Cantor Fitzgerald Investment Advisors L.P. Raises Stake in Devon Energy Corporation (NYSE:DVN)

Cantor Fitzgerald Investment Advisors L.P. raised its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 10.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 272,990 shares of the energy company's stock after purchasing an additional 26,519 shares during the period. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Devon Energy were worth $10,210,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 5,465,692 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Devon Energy during the fourth quarter valued at approximately $154,170,000. Fuller & Thaler Asset Management Inc. increased its position in shares of 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 valued at $340,236,000 after acquiring an additional 3,114,656 shares in the last quarter. Marshall Wace LLP increased its position in shares of Devon Energy by 135.5% during the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company's stock valued at $175,810,000 after acquiring an additional 3,090,585 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after acquiring an additional 2,335,473 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DVN. UBS Group decreased their price target on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Benchmark reissued a "buy" rating and issued a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Citigroup dropped their price target on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Wall Street Zen raised shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. cut their target price 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. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.50.

Devon Energy Stock Performance

NYSE:DVN opened at $34.02 on Friday. The stock has a 50-day moving average price of $31.79 and a 200 day moving average price of $33.56. The stock has a market capitalization of $21.84 billion, a P/E ratio of 7.75, a P/E/G ratio of 2.54 and a beta of 1.02. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $49.35. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the business earned $1.16 EPS. The company's quarterly revenue was up 23.8% on a year-over-year basis. Equities research analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.82%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio is presently 21.87%.

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.

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