M&R Capital Management Inc. Takes Position in Devon Energy Co. (NYSE:DVN)


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M&R Capital Management Inc. acquired a new stake in Devon Energy Co. (NYSE:DVN) during the 1st quarter, Holdings Channel reports. The firm acquired 1,250 shares of the energy company’s stock, valued at approximately $27,000.

Other institutional investors have also made changes to their positions in the company. Eudaimonia Partners LLC purchased a new position in shares of Devon Energy in the third quarter valued at about $95,000. Koshinski Asset Management Inc. purchased a new stake in shares of Devon Energy in the fourth quarter worth about $368,000. International Assets Investment Management LLC purchased a new stake in shares of Devon Energy in the fourth quarter worth about $35,000. Capstone Triton Financial Group LLC purchased a new stake in shares of Devon Energy in the fourth quarter worth about $45,000. Finally, Bessemer Group Inc. lifted its position in shares of Devon Energy by 313.8% in the fourth quarter. Bessemer Group Inc. now owns 3,000 shares of the energy company’s stock worth $47,000 after buying an additional 2,275 shares in the last quarter. Institutional investors and hedge funds own 80.86% of the company’s stock.

In related news, Director Felix Investments Holdings Ii, sold 29,579,389 shares of the stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $21.05, for a total value of $622,646,138.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.59% of the company’s stock.

A number of research firms recently commented on DVN. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on Devon Energy from $24.00 to $29.00 in a research report on Tuesday, March 23rd. Raymond James boosted their target price on Devon Energy from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, February 25th. Morgan Stanley boosted their target price on Devon Energy from $20.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 17th. Northland Securities boosted their target price on Devon Energy from $20.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, April 1st. Finally, Truist upped their price objective on Devon Energy from $30.00 to $35.00 in a research report on Monday, March 8th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $22.82.

DVN opened at $22.14 on Thursday. The stock has a market cap of $14.90 billion, a price-to-earnings ratio of -2.63, a P/E/G ratio of 28.23 and a beta of 3.46. The stock’s 50 day moving average price is $22.77 and its 200-day moving average price is $16.20. Devon Energy Co. has a one year low of $7.73 and a one year high of $26.13. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.03 and a current ratio of 2.03.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 16th. The energy company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.24 billion. Devon Energy had a negative net margin of 62.68% and a positive return on equity of 2.38%. During the same period in the prior year, the company posted $0.36 EPS. As a group, analysts predict that Devon Energy Co. will post -0.07 earnings per share for the current fiscal year.

About Devon Energy

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 3,942 gross wells. Devon Energy Corporation was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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