Mutual of America Capital Management LLC Sells 3,210 Shares of Devon Energy Co. (NYSE:DVN)

Mutual of America Capital Management LLC decreased its position in Devon Energy Co. (NYSE:DVN) by 1.7% during the 3rd quarter, Holdings Channel reports. The firm owned 185,317 shares of the energy company’s stock after selling 3,210 shares during the period. Mutual of America Capital Management LLC’s holdings in Devon Energy were worth $7,250,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Triad Wealth Partners LLC bought a new stake in Devon Energy in the 2nd quarter worth $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Devon Energy during the second quarter valued at about $34,000. PSI Advisors LLC boosted its holdings in shares of Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares during the period. LRI Investments LLC bought a new stake in shares of Devon Energy in the first quarter worth about $39,000. Finally, Capital Performance Advisors LLP purchased a new position in Devon Energy during the 3rd quarter valued at about $35,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Price Performance

DVN opened at $38.77 on Tuesday. The firm has a market cap of $25.47 billion, a PE ratio of 7.19, a P/E/G ratio of 1.20 and a beta of 2.03. The stock has a 50-day moving average price of $40.04 and a 200-day moving average price of $44.24. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last issued its 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 business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Devon Energy Co. will post 4.84 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.27%. Devon Energy’s dividend payout ratio is 16.33%.

Wall Street Analyst Weigh In

DVN has been the subject of several research analyst reports. BMO Capital Markets dropped their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Jefferies Financial Group started coverage on Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target for the company. Raymond James reduced their price objective on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Mizuho dropped their target price on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Finally, Evercore ISI reduced their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.85.

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.