Meyer Handelman Co. Has $679,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Meyer Handelman Co. cut its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 72.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,731 shares of the energy company's stock after selling 54,300 shares during the quarter. Meyer Handelman Co.'s holdings in Devon Energy were worth $679,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SkyOak Wealth LLC boosted its stake in Devon Energy by 4.1% in the 2nd quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company's stock worth $298,000 after purchasing an additional 250 shares during the period. Riversedge Advisors LLC grew its holdings in shares of 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 buying an additional 253 shares in the last quarter. Modus Advisors LLC raised its position in Devon Energy by 2.4% in the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company's stock valued at $447,000 after buying an additional 272 shares during the last quarter. Lummis Asset Management LP lifted its stake in Devon Energy by 1.0% in the 2nd quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company's stock valued at $1,425,000 after acquiring an additional 290 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its position in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock worth $49,000 after acquiring an additional 290 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Performance

DVN stock traded up $1.27 during mid-day trading on Wednesday, hitting $38.45. 12,504,311 shares of the company were exchanged, compared to its average volume of 11,143,855. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The business has a 50 day simple moving average of $35.54 and a 200-day simple moving average of $40.42. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $25.26 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 1.07 and a beta of 2.00.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.65 EPS. On average, equities analysts forecast that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.29%. Devon Energy's dividend payout ratio (DPR) is presently 16.33%.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of recent research reports. Wells Fargo & Company lowered 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. UBS Group lowered their price target on shares of Devon Energy from $53.00 to $47.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 18th. Sanford C. Bernstein upgraded shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a research note on Wednesday. TD Cowen lowered their target price on Devon Energy from $54.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, November 5th. Finally, Susquehanna reduced their price target on Devon Energy from $63.00 to $62.00 and set a "positive" rating for the company in a research report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $49.27.

Devon Energy Company 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.