Cambridge Investment Research Advisors Inc. Buys 44,601 Shares of Devon Energy Corporation (NYSE:DVN)

Cambridge Investment Research Advisors Inc. increased its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 17.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 294,858 shares of the energy company's stock after buying an additional 44,601 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Devon Energy were worth $11,028,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Devon Energy by 7.3% during 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. Raymond James Financial Inc. bought a new position in Devon Energy during the fourth quarter worth about $154,170,000. Fuller & Thaler Asset Management Inc. grew its holdings in Devon Energy by 42.8% during 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 grew its holdings in Devon Energy by 135.5% during 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. Finally, Invesco Ltd. grew its holdings in Devon Energy by 32.8% during 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. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Price Performance

DVN traded down $0.22 during trading on Friday, hitting $32.26. 6,349,431 shares of the stock traded hands, compared to its average volume of 8,843,468. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $49.35. The company has a market cap of $20.71 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 2.40 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.99. The business has a 50 day moving average price of $32.21 and a 200 day moving average price of $33.42.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The company 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 company's revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 earnings per share. Equities research analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.24 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.98%. Devon Energy's dividend payout ratio is 21.87%.

Analyst Ratings Changes

A number of equities analysts recently commented on DVN shares. Wells Fargo & Company reduced their price target on Devon Energy from $46.00 to $41.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Williams Trading set a $50.00 price target on Devon Energy in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Scotiabank cut their price objective on shares of Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Finally, The Goldman Sachs Group raised their price objective on shares of Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Devon Energy presently has a consensus rating of "Moderate Buy" and an average target price of $43.50.

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.