Cetera Investment Advisers Has $14.08 Million Holdings in Devon Energy Co. (NYSE:DVN)

Cetera Investment Advisers decreased its stake in shares of Devon Energy Co. (NYSE:DVN) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 296,953 shares of the energy company’s stock after selling 1,388 shares during the quarter. Cetera Investment Advisers’ holdings in Devon Energy were worth $14,076,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of DVN. Jones Financial Companies Lllp raised its holdings in shares of Devon Energy by 104.8% during the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after purchasing an additional 374 shares during the period. CIBC Private Wealth Group LLC grew its stake in Devon Energy by 35.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 19,208 shares of the energy company’s stock valued at $870,000 after acquiring an additional 5,004 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Devon Energy by 120.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 67,327 shares of the energy company’s stock worth $3,050,000 after purchasing an additional 36,719 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of Devon Energy by 2.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 28,312 shares of the energy company’s stock worth $1,282,000 after purchasing an additional 772 shares in the last quarter. Finally, Cetera Advisor Networks LLC grew its position in Devon Energy by 12.7% in the 4th quarter. Cetera Advisor Networks LLC now owns 251,042 shares of the energy company’s stock valued at $11,372,000 after purchasing an additional 28,258 shares during the period. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DVN shares. Morgan Stanley dropped their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Truist Financial dropped their target price on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Evercore ISI decreased their price target on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. cut their price objective on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Finally, Bank of America reaffirmed a “buy” rating and set a $64.00 target price on shares of Devon Energy in a research report on Friday, June 14th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $53.79.

Devon Energy Price Performance

DVN stock opened at $42.41 on Friday. The firm has a 50 day moving average of $42.74 and a 200-day moving average of $46.87. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $26.80 billion, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the business earned $1.18 EPS. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, sell-side analysts predict that Devon Energy Co. will post 5.11 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, September 13th. Devon Energy’s payout ratio is 16.79%.

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.