M&R Capital Management Inc. Has $950,000 Stake in Devon Energy Corporation (DVN)

M&R Capital Management Inc. trimmed its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 10.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,067 shares of the energy company’s stock after selling 3,360 shares during the quarter. M&R Capital Management Inc.’s holdings in Devon Energy Corporation were worth $950,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Devon Energy Corporation by 5.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 57,368 shares of the energy company’s stock worth $1,834,000 after acquiring an additional 2,775 shares during the last quarter. TVR Capital Management LP increased its position in shares of Devon Energy Corporation by 121.8% during the second quarter. TVR Capital Management LP now owns 240,000 shares of the energy company’s stock worth $7,673,000 after acquiring an additional 131,806 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Devon Energy Corporation during the second quarter worth about $1,397,000. State Street Corp increased its position in shares of Devon Energy Corporation by 1.0% during the second quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock worth $884,702,000 after acquiring an additional 265,179 shares during the last quarter. Finally, Dana Investment Advisors Inc. grew its stake in Devon Energy Corporation by 53.5% in the second quarter. Dana Investment Advisors Inc. now owns 75,639 shares of the energy company’s stock worth $2,418,000 after purchasing an additional 26,359 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Corporation (NYSE DVN) traded up 0.22% on Monday, hitting $35.86. The company’s stock had a trading volume of 1,029,049 shares. The company has a market capitalization of $18.85 billion, a P/E ratio of 8.11 and a beta of 2.21. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The company has a 50 day moving average price of $33.53 and a 200-day moving average price of $34.90.

Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the firm earned $0.06 earnings per share. Devon Energy Corporation’s revenue was up 31.6% compared to the same quarter last year. On average, equities analysts forecast that Devon Energy Corporation will post $1.73 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a yield of 0.67%. Devon Energy Corporation’s dividend payout ratio is currently 5.47%.

DVN has been the subject of a number of research reports. BidaskClub upgraded Devon Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Seaport Global Securities downgraded Devon Energy Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $51.00 to $28.00 in a research note on Wednesday, June 21st. BMO Capital Markets reiterated a “buy” rating and issued a $42.00 price target on shares of Devon Energy Corporation in a research note on Thursday, June 22nd. Scotiabank set a $49.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Saturday, July 1st. Finally, Sanford C. Bernstein downgraded Devon Energy Corporation from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $54.00 to $33.00 in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $45.29.

COPYRIGHT VIOLATION WARNING: “M&R Capital Management Inc. Has $950,000 Stake in Devon Energy Corporation (DVN)” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at https://ledgergazette.com/2017/10/09/mr-capital-management-inc-has-950000-stake-in-devon-energy-corporation-dvn.html.

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Several other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Devon Energy Corporation by 5.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 57,368 shares of the energy company’s stock worth $1,834,000 after acquiring an additional 2,775 shares during the last quarter. TVR Capital Management LP increased its position in shares of Devon Energy Corporation by 121.8% during the second quarter. TVR Capital Management LP now owns 240,000 shares of the energy company’s stock worth $7,673,000 after acquiring an additional 131,806 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Devon Energy Corporation during the second quarter worth about $1,397,000. State Street Corp increased its position in shares of Devon Energy Corporation by 1.0% during the second quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock worth $884,702,000 after acquiring an additional 265,179 shares during the last quarter. Finally, Dana Investment Advisors Inc. grew its stake in Devon Energy Corporation by 53.5% in the second quarter. Dana Investment Advisors Inc. now owns 75,639 shares of the energy company’s stock worth $2,418,000 after purchasing an additional 26,359 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Corporation (NYSE DVN) traded up 0.22% on Monday, hitting $35.86. The company’s stock had a trading volume of 1,029,049 shares. The company has a market capitalization of $18.85 billion, a P/E ratio of 8.11 and a beta of 2.21. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The company has a 50 day moving average price of $33.53 and a 200-day moving average price of $34.90.

Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the firm earned $0.06 earnings per share. Devon Energy Corporation’s revenue was up 31.6% compared to the same quarter last year. On average, equities analysts forecast that Devon Energy Corporation will post $1.73 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a yield of 0.67%. Devon Energy Corporation’s dividend payout ratio is currently 5.47%.

DVN has been the subject of a number of research reports. BidaskClub upgraded Devon Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Seaport Global Securities downgraded Devon Energy Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $51.00 to $28.00 in a research note on Wednesday, June 21st. BMO Capital Markets reiterated a “buy” rating and issued a $42.00 price target on shares of Devon Energy Corporation in a research note on Thursday, June 22nd. Scotiabank set a $49.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Saturday, July 1st. Finally, Sanford C. Bernstein downgraded Devon Energy Corporation from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $54.00 to $33.00 in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $45.29.

COPYRIGHT VIOLATION WARNING: “M&R Capital Management Inc. Has $950,000 Stake in Devon Energy Corporation (DVN)” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at https://ledgergazette.com/2017/10/09/mr-capital-management-inc-has-950000-stake-in-devon-energy-corporation-dvn.html.

In related news, Director Robert H. Henry sold 7,045 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $33.35, for a total value of $234,950.75. Following the transaction, the director now directly owns 11,338 shares in the company, valued at $378,122.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.51% of the company’s stock.

About Devon Energy Corporation

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

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

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