Mesirow Financial Investment Management Inc. Takes $512,000 Position in Devon Energy Co. (NYSE:DVN)

Mesirow Financial Investment Management Inc. acquired a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,097 shares of the energy company's stock, valued at approximately $512,000.

Several other hedge funds have also added to or reduced their stakes in DVN. Sei Investments Co. increased its holdings in Devon Energy by 3.6% in the first quarter. Sei Investments Co. now owns 228,499 shares of the energy company's stock valued at $11,462,000 after purchasing an additional 7,931 shares during the period. NorthRock Partners LLC bought a new position in shares of Devon Energy during the first quarter valued at about $230,000. Russell Investments Group Ltd. increased its stake in shares of Devon Energy by 62.3% during the first quarter. Russell Investments Group Ltd. now owns 701,950 shares of the energy company's stock valued at $35,222,000 after purchasing an additional 269,319 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Devon Energy by 28.3% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 22,975 shares of the energy company's stock worth $1,153,000 after purchasing an additional 5,074 shares during the last quarter. Finally, Patton Fund Management Inc. bought a new stake in shares of Devon Energy during the 1st quarter valued at $245,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Trading Down 1.6 %

DVN traded down $0.63 during trading on Tuesday, hitting $38.33. 8,051,345 shares of the company's stock were exchanged, compared to its average volume of 7,441,273. The firm has a market cap of $25.18 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 1.21 and a beta of 2.03. The stock has a 50 day moving average price of $40.36 and a 200 day moving average price of $44.69. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS. As a group, analysts expect that Devon Energy Co. will post 4.89 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. Devon Energy's payout ratio is 16.33%.

Analyst Ratings Changes

DVN has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target 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. Wells Fargo & Company lowered their price target on shares of Devon Energy from $50.00 to $49.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. UBS Group reduced their target price on shares of Devon Energy from $53.00 to $47.00 and set a "neutral" rating for the company in a research report on Wednesday, September 18th. Benchmark reiterated a "hold" rating on shares of Devon Energy in a research report on Tuesday, October 15th. Finally, Wolfe Research started coverage on shares of Devon Energy in a research report on Thursday, July 18th. They set a "peer perform" rating for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $51.80.

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.