M Holdings Securities Inc. Has $587,000 Holdings in Devon Energy Co. (NYSE:DVN)

M Holdings Securities Inc. trimmed its stake in shares of Devon Energy Co. (NYSE:DVN) by 30.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,922 shares of the energy company’s stock after selling 7,940 shares during the period. M Holdings Securities Inc.’s holdings in Devon Energy were worth $587,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Hurley Capital LLC acquired a new position in Devon Energy during the 4th quarter worth $26,000. Cromwell Holdings LLC raised its position in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Devon Energy during the fourth quarter worth $43,000. Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy during the fourth quarter valued at $52,000. Finally, Thompson Investment Management Inc. boosted its holdings in Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock valued at $52,000 after acquiring an additional 600 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Up 1.7 %

DVN opened at $28.70 on Tuesday. The stock has a market capitalization of $18.63 billion, a P/E ratio of 6.29, a P/E/G ratio of 1.20 and a beta of 1.50. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $54.04. The firm’s fifty day simple moving average is $34.27 and its 200 day simple moving average is $36.06.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. As a group, research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.24 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Friday, January 3rd. Benchmark reissued a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research note on Thursday, February 20th. Scotiabank cut their price objective on shares of Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating on the stock in a report on Friday. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Wednesday, January 15th. Finally, Morgan Stanley set a $47.00 price target on Devon Energy and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.71.

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.