MML Investors Services LLC Sells 3,504 Shares of Devon Energy Co. (NYSE:DVN)

MML Investors Services LLC trimmed its position in Devon Energy Co. (NYSE:DVN) by 16.6% during the third quarter, HoldingsChannel.com reports. The fund owned 17,649 shares of the energy company’s stock after selling 3,504 shares during the period. MML Investors Services LLC’s holdings in Devon Energy were worth $690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Archer Investment Corp raised its holdings in Devon Energy by 2.8% in the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock worth $405,000 after purchasing an additional 235 shares during the period. Institute for Wealth Management LLC. increased its position in shares of Devon Energy by 4.0% in the 2nd quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock valued at $296,000 after buying an additional 237 shares in the last quarter. SkyOak Wealth LLC raised its stake in Devon Energy by 4.1% during the 2nd quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock worth $298,000 after buying an additional 250 shares during the period. Riversedge Advisors LLC lifted its holdings in Devon Energy by 3.6% during the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after acquiring an additional 253 shares in the last quarter. Finally, Modus Advisors LLC grew its stake in Devon Energy by 2.4% in the third quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock valued at $447,000 after acquiring an additional 272 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

DVN has been the topic of a number of research analyst reports. Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Citigroup dropped their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Monday, December 16th. Wells Fargo & Company dropped their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Barclays reduced their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.05.

Devon Energy Trading Up 0.8 %

Shares of Devon Energy stock opened at $30.77 on Friday. The stock has a market cap of $20.21 billion, a P/E ratio of 5.71, a P/E/G ratio of 1.10 and a beta of 1.99. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The business’s 50 day moving average is $37.65 and its 200-day moving average is $42.04.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.86%. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.