Cetera Advisor Networks LLC bought a new stake in Devon Energy Corp (NYSE:DVN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,668 shares of the energy company’s stock, valued at approximately $241,000.
Several other institutional investors have also recently bought and sold shares of DVN. TIAA CREF Investment Management LLC lifted its position in shares of Devon Energy by 34.1% during the third quarter. TIAA CREF Investment Management LLC now owns 2,164,709 shares of the energy company’s stock worth $86,458,000 after purchasing an additional 550,866 shares in the last quarter. Morgan Stanley lifted its position in shares of Devon Energy by 105.9% during the third quarter. Morgan Stanley now owns 2,521,826 shares of the energy company’s stock worth $100,722,000 after purchasing an additional 1,296,801 shares in the last quarter. Winslow Evans & Crocker Inc. acquired a new stake in shares of Devon Energy during the fourth quarter worth about $26,000. IFM Investors Pty Ltd lifted its position in shares of Devon Energy by 11.0% during the fourth quarter. IFM Investors Pty Ltd now owns 29,936 shares of the energy company’s stock worth $675,000 after purchasing an additional 2,977 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in shares of Devon Energy by 236.5% during the fourth quarter. Sumitomo Life Insurance Co. now owns 48,017 shares of the energy company’s stock worth $1,082,000 after purchasing an additional 33,747 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Thursday, April 18th. Royal Bank of Canada set a $42.00 price target on shares of Devon Energy and gave the stock a “hold” rating in a research report on Thursday, May 2nd. ValuEngine raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Barclays reissued a “hold” rating and set a $36.00 price target on shares of Devon Energy in a research report on Thursday, April 11th. Finally, Wells Fargo & Co assumed coverage on shares of Devon Energy in a research report on Monday, May 20th. They set an “outperform” rating and a $40.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $45.05.
Shares of NYSE:DVN opened at $26.99 on Friday. The company has a market capitalization of $11.21 billion, a P/E ratio of 20.92, a PEG ratio of 0.86 and a beta of 2.23. Devon Energy Corp has a fifty-two week low of $20.37 and a fifty-two week high of $46.54. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.37 and a current ratio of 1.37.
Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, April 30th. The energy company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.06. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Devon Energy had a net margin of 29.33% and a return on equity of 7.12%. During the same quarter last year, the company earned $0.20 earnings per share. As a group, analysts predict that Devon Energy Corp will post 2.18 earnings per share for the current fiscal year.
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Devon Energy Profile
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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