Devon Energy Corporation (NYSE:DVN) Shares Bought by Cerity Partners LLC

Cerity Partners LLC grew its position in shares of Devon Energy Corporation (NYSE:DVN) by 27.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,261 shares of the energy company’s stock after acquiring an additional 53,904 shares during the quarter. Cerity Partners LLC’s holdings in Devon Energy were worth $9,322,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Devon Energy by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Devon Energy by 42.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock worth $340,236,000 after purchasing an additional 3,114,656 shares during the period. Marshall Wace LLP lifted its holdings in Devon Energy by 135.5% in the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock worth $175,810,000 after purchasing an additional 3,090,585 shares during the period. Invesco Ltd. lifted its holdings in Devon Energy by 32.8% in the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock worth $309,682,000 after purchasing an additional 2,335,473 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Devon Energy by 530.3% in the first quarter. Assenagon Asset Management S.A. now owns 2,067,465 shares of the energy company’s stock worth $77,323,000 after purchasing an additional 1,739,436 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $33.22 on Tuesday. The business has a fifty day simple moving average of $32.69 and a 200 day simple moving average of $33.54. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $21.33 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 2.53 and a beta of 1.02. Devon Energy Corporation has a one year low of $25.89 and a one year high of $49.35.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. 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 announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.24 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.89%. Devon Energy’s payout ratio is 21.87%.

Analysts Set New Price Targets

Several research firms recently weighed in on DVN. Mizuho reduced their price objective on shares of Devon Energy from $46.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Bank of America cut their price target on shares of Devon Energy from $52.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Morgan Stanley upped their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Citigroup cut their price target on shares of Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a report on Friday, April 4th. Finally, Wall Street Zen raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.79.

About Devon Energy

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.