Mesirow Financial Investment Management Inc. Acquires 4,523 Shares of Devon Energy Co. (NYSE:DVN)

Mesirow Financial Investment Management Inc. grew its position in shares of Devon Energy Co. (NYSE:DVN) by 34.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,620 shares of the energy company’s stock after purchasing an additional 4,523 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Devon Energy were worth $577,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DVN. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy during the third quarter valued at approximately $35,000. Cromwell Holdings LLC grew its holdings 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 valued at $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Devon Energy during the fourth quarter valued at approximately $43,000. True Wealth Design LLC grew its holdings in shares of Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares during the last quarter. Finally, Activest Wealth Management grew its holdings in shares of Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 2.6 %

Shares of DVN stock opened at $34.74 on Friday. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company’s fifty day moving average price is $35.24 and its 200-day moving average price is $37.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Sell-side analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DVN shares. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Thursday, December 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Citigroup dropped their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Mizuho dropped their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Truist Financial raised their target price on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.87.

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.