Mraz Amerine & Associates Inc. Buys 3,666 Shares of Devon Energy Co. (NYSE:DVN)

Mraz Amerine & Associates Inc. increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 19.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,052 shares of the energy company’s stock after acquiring an additional 3,666 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Devon Energy were worth $999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Coppell Advisory Solutions LLC bought a new position in Devon Energy during the second quarter valued at $25,000. Canada Pension Plan Investment Board bought a new position in Devon Energy during the first quarter valued at $26,000. KB Financial Partners LLC bought a new position in Devon Energy during the first quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Devon Energy during the third quarter valued at $27,000. Finally, Sound Income Strategies LLC raised its stake in shares of Devon Energy by 60.7% in the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after acquiring an additional 255 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

DVN stock traded down $0.51 during trading on Wednesday, reaching $51.67. The company had a trading volume of 6,170,623 shares, compared to its average volume of 8,083,064. The firm has a 50-day simple moving average of $47.30 and a 200-day simple moving average of $45.78. The company has a market cap of $32.81 billion, a price-to-earnings ratio of 8.95 and a beta of 2.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.46.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same period last year, the firm posted $1.66 EPS. Devon Energy’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that Devon Energy Co. will post 5.02 earnings per share for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Thursday, March 14th. Devon Energy’s dividend payout ratio is presently 15.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday. Barclays assumed coverage on shares of Devon Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Raymond James reduced their target price on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Finally, UBS Group raised their price target on shares of Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.89.

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.