MTM Investment Management LLC Acquires Shares of 5,042 Devon Energy Corporation $DVN

MTM Investment Management LLC purchased a new stake in shares of Devon Energy Corporation (NYSE:DVN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,042 shares of the energy company’s stock, valued at approximately $160,000.

Other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Devon Energy in the second quarter valued at about $25,000. Banque Cantonale Vaudoise acquired a new stake in Devon Energy during the 1st quarter worth $26,000. Trust Co. of Vermont raised its position in shares of Devon Energy by 241.3% during the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after acquiring an additional 666 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Devon Energy in the second quarter valued at about $34,000. Finally, SouthState Corp raised its position in shares of Devon Energy by 350.5% in the 1st quarter. SouthState Corp now owns 991 shares of the energy company’s stock valued at $37,000 after acquiring an additional 771 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Siebert Williams Shank decreased their target price on Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, October 13th. BMO Capital Markets cut their price target on shares of Devon Energy from $51.00 to $50.00 in a research note on Tuesday, November 11th. Roth Capital assumed coverage on shares of Devon Energy in a research report on Monday, October 13th. They issued a “buy” rating and a $42.00 price objective on the stock. Morgan Stanley decreased their price objective on Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Devon Energy in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

Devon Energy Stock Performance

Shares of DVN opened at $35.80 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. The firm has a 50-day moving average of $33.92 and a 200-day moving average of $33.39. The company has a market cap of $22.45 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01. Devon Energy Corporation has a one year low of $25.89 and a one year high of $39.74.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the firm posted $1.10 earnings per share. As a group, equities analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, December 15th. This represents a $0.96 annualized dividend and a yield of 2.7%. Devon Energy’s dividend payout ratio (DPR) is 22.59%.

About Devon Energy

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.