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

Mutual of America Capital Management LLC lessened its holdings in shares of Devon Energy Co. (NYSE:DVN) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 185,317 shares of the energy company’s stock after selling 3,210 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Devon Energy were worth $7,250,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in shares of Devon Energy during the 2nd quarter valued at approximately $27,000. 1620 Investment Advisors Inc. bought a new stake in Devon Energy during the 2nd quarter valued at $34,000. PSI Advisors LLC lifted its position 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 acquiring an additional 300 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Devon Energy during the first quarter worth $39,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Devon Energy in the third quarter worth $35,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on DVN shares. Wells Fargo & Company decreased their price objective on Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Susquehanna lowered their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Morgan Stanley reduced their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. decreased their target price on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, Raymond James cut their price target on shares of Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.85.

Devon Energy Stock Performance

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

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 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 the consensus estimate of $3.72 billion. During the same period last year, the firm posted $1.65 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Devon Energy Co. will post 4.84 EPS for the current fiscal year.

Devon Energy Dividend Announcement

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