MassMutual Private Wealth & Trust FSB Has $147,000 Position in Devon Energy Co. (NYSE:DVN)

MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 28.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,477 shares of the energy company’s stock after buying an additional 980 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Devon Energy were worth $147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AE Wealth Management LLC lifted its stake in Devon Energy by 48.1% in the second quarter. AE Wealth Management LLC now owns 15,923 shares of the energy company’s stock valued at $755,000 after buying an additional 5,168 shares during the period. Sei Investments Co. increased its stake in shares of Devon Energy by 13.6% in the 2nd quarter. Sei Investments Co. now owns 259,674 shares of the energy company’s stock valued at $12,309,000 after acquiring an additional 31,175 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Devon Energy by 11.1% in the 2nd quarter. ProShare Advisors LLC now owns 124,977 shares of the energy company’s stock valued at $5,924,000 after acquiring an additional 12,456 shares during the period. Public Sector Pension Investment Board boosted its stake in Devon Energy by 3.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 109,996 shares of the energy company’s stock worth $5,214,000 after acquiring an additional 3,807 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in Devon Energy in the second quarter valued at approximately $328,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. TD Cowen lowered their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Evercore ISI dropped their price target on 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, January 14th. Finally, Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $49.41.

Devon Energy Stock Performance

Shares of NYSE:DVN opened at $36.43 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The company’s 50 day moving average price is $35.31 and its two-hundred day moving average price is $40.02. The firm has a market cap of $23.93 billion, a PE ratio of 6.76, a PEG ratio of 1.22 and a beta of 2.00.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm 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 firm earned $1.65 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Devon Energy Co. will post 4.68 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.