Mraz Amerine & Associates Inc. Buys 76,933 Shares of Devon Energy Corporation $DVN

Mraz Amerine & Associates Inc. grew its position in shares of Devon Energy Corporation (NYSE:DVN) by 180.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 119,582 shares of the energy company’s stock after acquiring an additional 76,933 shares during the quarter. Devon Energy makes up 0.7% of Mraz Amerine & Associates Inc.’s holdings, making the stock its 25th largest holding. Mraz Amerine & Associates Inc.’s holdings in Devon Energy were worth $4,941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DVN. Riversedge Advisors LLC grew its holdings in shares of Devon Energy by 8.0% in the second quarter. Riversedge Advisors LLC now owns 12,935 shares of the energy company’s stock worth $534,000 after acquiring an additional 963 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in Devon Energy by 38.2% in the second quarter. Aaron Wealth Advisors LLC now owns 13,318 shares of the energy company’s stock valued at $550,000 after acquiring an additional 3,678 shares during the period. City National Bank of Florida MSD boosted its position in Devon Energy by 39.1% in the second quarter. City National Bank of Florida MSD now owns 6,079 shares of the energy company’s stock worth $251,000 after purchasing an additional 1,709 shares during the last quarter. Cascade Investment Advisors Inc. purchased a new position in Devon Energy in the second quarter worth about $1,600,000. Finally, Montecito Bank & Trust bought a new stake in shares of Devon Energy during the 2nd quarter valued at about $217,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the sale, the senior vice president directly owned 138,529 shares in the company, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.58% of the stock is currently owned by company insiders.

Devon Energy Stock Down 0.8%

NYSE DVN opened at $44.48 on Friday. Devon Energy Corporation has a 52 week low of $31.47 and a 52 week high of $52.71. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $48.93 billion, a P/E ratio of 10.57 and a beta of 0.38. The stock’s 50-day moving average price is $43.37 and its 200-day moving average price is $45.13.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The company had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The firm’s revenue was up 73.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. On average, equities research analysts predict that Devon Energy Corporation will post 4.95 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Devon Energy’s dividend payout ratio is presently 30.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Roth Capital reiterated a “buy” rating and issued a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, April 28th. Zacks Research lowered shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Morgan Stanley reduced their target price on shares of Devon Energy from $66.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, June 26th. Weiss Ratings upgraded shares of Devon Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Citigroup lifted their price target on shares of Devon Energy from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average target price of $59.60.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.