Metropolitan Life Insurance Co NY Lowers Holdings in Devon Energy Corp (NYSE:DVN)

Metropolitan Life Insurance Co NY decreased its position in Devon Energy Corp (NYSE:DVN) by 9.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 60,508 shares of the energy company’s stock after selling 6,198 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Devon Energy were worth $1,909,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in shares of Devon Energy by 94.6% in the first quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Lindbrook Capital LLC bought a new position in shares of Devon Energy in the fourth quarter worth approximately $26,000. Lavaca Capital LLC grew its holdings in shares of Devon Energy by 566.0% in the first quarter. Lavaca Capital LLC now owns 1,332 shares of the energy company’s stock worth $42,000 after purchasing an additional 1,132 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Devon Energy by 46.0% in the first quarter. Signaturefd LLC now owns 2,569 shares of the energy company’s stock worth $81,000 after purchasing an additional 809 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. grew its holdings in shares of Devon Energy by 100.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 3,000 shares of the energy company’s stock worth $95,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

In other news, CAO Jeremy D. Humphers sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $25.40, for a total transaction of $101,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 81,914 shares in the company, valued at $2,080,615.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is owned by company insiders.

A number of analysts recently commented on DVN shares. Royal Bank of Canada set a $42.00 price target on Devon Energy and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Seaport Global Securities reaffirmed a “buy” rating on shares of W&T Offshore in a research note on Friday, June 21st. Zacks Investment Research lowered Genprex from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Barclays set a $325.00 price target on Align Technology and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Macquarie lowered Janus Henderson Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $44.25.

Devon Energy stock traded down $0.01 on Friday, hitting $28.65. 4,853,535 shares of the stock traded hands, compared to its average volume of 5,544,847. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 2.10 and a beta of 2.27. The firm has a fifty day moving average of $27.07. Devon Energy Corp has a 1 year low of $20.37 and a 1 year high of $45.61.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, April 30th. The energy company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.06. Devon Energy had a return on equity of 7.12% and a net margin of 29.33%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned $0.20 earnings per share. On average, equities analysts forecast that Devon Energy Corp will post 1.7 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.26%. Devon Energy’s payout ratio is presently 27.91%.

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 and Canada. It operates approximately 12,900 gross wells. The company 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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