Capital Asset Advisory Services LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 5,895 shares of the energy company’s stock, valued at approximately $93,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Xponance Inc. boosted its stake in Devon Energy by 3.2% in the 4th quarter. Xponance Inc. now owns 16,467 shares of the energy company’s stock valued at $260,000 after purchasing an additional 507 shares during the period. Salem Capital Management Inc. lifted its holdings in shares of Devon Energy by 0.4% during the fourth quarter. Salem Capital Management Inc. now owns 129,061 shares of the energy company’s stock worth $2,040,000 after buying an additional 550 shares in the last quarter. Heritage Trust Co boosted its position in shares of Devon Energy by 1.0% in the fourth quarter. Heritage Trust Co now owns 59,426 shares of the energy company’s stock valued at $939,000 after acquiring an additional 612 shares during the period. Personal CFO Solutions LLC grew its stake in shares of Devon Energy by 4.4% in the fourth quarter. Personal CFO Solutions LLC now owns 15,157 shares of the energy company’s stock valued at $240,000 after acquiring an additional 634 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in Devon Energy by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 66,121 shares of the energy company’s stock worth $1,044,000 after acquiring an additional 810 shares during the period. 80.86% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on DVN shares. Zacks Investment Research raised shares of Devon Energy from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a report on Tuesday, February 2nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on Devon Energy from $24.00 to $29.00 in a research report on Tuesday, March 23rd. Northland Securities raised their price objective on Devon Energy from $20.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, April 1st. Johnson Rice upgraded Devon Energy from an “accumulate” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, March 15th. Finally, Morgan Stanley increased their target price on Devon Energy from $20.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, March 17th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.82.
DVN opened at $22.52 on Thursday. The company has a market cap of $15.16 billion, a P/E ratio of -2.63, a PEG ratio of 28.23 and a beta of 3.46. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.36. The company’s 50 day moving average is $22.77 and its 200-day moving average is $16.20. Devon Energy Co. has a 1-year low of $7.73 and a 1-year high of $26.13.
Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 16th. The energy company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.24 billion. Devon Energy had a negative net margin of 62.68% and a positive return on equity of 2.38%. During the same period in the previous year, the company earned $0.36 EPS. On average, equities analysts forecast that Devon Energy Co. will post -0.07 EPS for the current year.
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. It operates approximately 3,942 gross wells. Devon Energy Corporation was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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