Devon Energy Co. (NYSE:DVN) Shares Purchased by MCF Advisors LLC

MCF Advisors LLC boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 5.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,023 shares of the energy company’s stock after acquiring an additional 215 shares during the quarter. MCF Advisors LLC’s holdings in Devon Energy were worth $202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of Devon Energy by 1,279.7% in the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock valued at $278,396,000 after acquiring an additional 5,700,167 shares during the period. Morgan Stanley increased its holdings in Devon Energy by 23.6% in the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after purchasing an additional 2,220,194 shares during the last quarter. International Assets Investment Management LLC raised its position in Devon Energy by 3,885.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock valued at $76,793,000 after purchasing an additional 1,652,671 shares during the period. Dimensional Fund Advisors LP lifted its stake in Devon Energy by 26.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock worth $320,609,000 after purchasing an additional 1,488,374 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Devon Energy by 61.0% during the third quarter. Schroder Investment Management Group now owns 2,673,781 shares of the energy company’s stock worth $127,539,000 after buying an additional 1,013,353 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DVN shares. Scotiabank increased their target price on Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Stifel Nicolaus increased their price target on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Citigroup lifted their price objective on shares of Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on shares of Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Bank of America restated a “buy” rating and issued a $64.00 price target on shares of Devon Energy in a research note on Friday, June 14th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.24.

Insider Buying and Selling at Devon Energy

In other news, EVP Tana K. Cashion sold 20,000 shares of Devon Energy stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the sale, the executive vice president now owns 104,182 shares in the company, valued at $5,317,449.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by insiders.

Devon Energy Trading Up 0.8 %

DVN opened at $47.40 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The company has a market cap of $29.96 billion, a P/E ratio of 9.05, a PEG ratio of 1.25 and a beta of 2.08. The business’s 50-day simple moving average is $48.73 and its 200-day simple moving average is $46.91.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.10 by $0.06. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 earnings per share. As a group, equities research analysts expect that Devon Energy Co. will post 5.25 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.86%. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Devon Energy 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.