8,714 Shares in Devon Energy Corporation (NYSE:DVN) Purchased by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC bought a new position in Devon Energy Corporation (NYSE:DVN) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 8,714 shares of the energy company’s stock, valued at approximately $326,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in DVN. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Devon Energy by 42.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock worth $340,236,000 after acquiring an additional 3,114,656 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Devon Energy by 135.5% in the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock worth $175,810,000 after acquiring an additional 3,090,585 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Devon Energy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock worth $3,096,000,000 after acquiring an additional 2,098,568 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Devon Energy by 530.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,067,465 shares of the energy company’s stock worth $77,323,000 after acquiring an additional 1,739,436 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Devon Energy by 345.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,163,792 shares of the energy company’s stock worth $70,821,000 after acquiring an additional 1,678,500 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Down 1.2%

DVN opened at $32.87 on Tuesday. The company has a 50 day moving average of $33.11 and a 200 day moving average of $33.17. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $46.04. The company has a market cap of $20.86 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 1.89 and a beta of 1.07.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm earned $1.41 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is presently 21.52%.

Insider Buying and Selling

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the transaction, the director directly owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DVN shares. BMO Capital Markets increased their price objective on shares of Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Barclays increased their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Tudor, Pickering, Holt & Co. increased their price objective on shares of Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. Royal Bank Of Canada decreased their price objective on shares of Devon Energy from $49.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, April 14th. Finally, Mizuho decreased their price objective on shares of Devon Energy from $46.00 to $43.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $43.93.

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.