Massmutual Trust Co. FSB ADV Sells 282 Shares of Devon Energy Co. (NYSE:DVN)

Massmutual Trust Co. FSB ADV lowered its position in shares of Devon Energy Co. (NYSE:DVN) by 9.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,669 shares of the energy company’s stock after selling 282 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Devon Energy were worth $134,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new stake in Devon Energy during the 4th quarter valued at $28,000. Sound Income Strategies LLC boosted its position in Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after buying an additional 255 shares during the period. Rise Advisors LLC boosted its position in Devon Energy by 1,365.3% during the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock valued at $33,000 after buying an additional 669 shares during the period. Jones Financial Companies Lllp boosted its position in Devon Energy by 104.8% during the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after buying an additional 374 shares during the period. Finally, PFS Partners LLC purchased a new stake in Devon Energy during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the completion of the sale, the executive vice president now directly owns 104,182 shares in the company, valued at approximately $5,317,449.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on DVN. JPMorgan Chase & Co. raised their target price on shares of Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Barclays began coverage on shares of Devon Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price for the company. Morgan Stanley raised their target price on shares of Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Scotiabank raised their target price on shares of Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Citigroup raised their target price on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and an average target price of $59.24.

Devon Energy Stock Down 0.4 %

NYSE:DVN opened at $45.82 on Friday. The firm has a market cap of $28.96 billion, a P/E ratio of 8.74, a P/E/G ratio of 1.21 and a beta of 2.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The firm has a 50-day simple moving average of $49.21 and a two-hundred day simple moving average of $46.77.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. Devon Energy’s revenue was down 5.9% compared to the same quarter last year. During the same period last year, the business earned $1.46 EPS. Analysts predict that Devon Energy Co. will post 5.24 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.92%. Devon Energy’s dividend payout ratio is currently 16.79%.

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.