Cerity Partners LLC Grows Stock Holdings in Devon Energy Corporation (NYSE:DVN)

Cerity Partners LLC raised its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 249,261 shares of the energy company's stock after buying an additional 53,904 shares during the period. Cerity Partners LLC's holdings in Devon Energy were worth $9,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Covestor Ltd boosted its position in Devon Energy by 15.9% in the 4th quarter. Covestor Ltd now owns 2,521 shares of the energy company's stock valued at $83,000 after buying an additional 345 shares during the period. Horizon Investments LLC raised its holdings in shares of Devon Energy by 4.1% in the 4th quarter. Horizon Investments LLC now owns 8,843 shares of the energy company's stock valued at $289,000 after purchasing an additional 347 shares in the last quarter. Tocqueville Asset Management L.P. raised its holdings in shares of Devon Energy by 3.0% in the 4th quarter. Tocqueville Asset Management L.P. now owns 12,242 shares of the energy company's stock valued at $401,000 after purchasing an additional 359 shares in the last quarter. Sierra Ocean LLC raised its holdings in shares of Devon Energy by 29.4% in the 1st quarter. Sierra Ocean LLC now owns 1,709 shares of the energy company's stock valued at $64,000 after purchasing an additional 388 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its holdings in shares of Devon Energy by 46.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company's stock valued at $47,000 after purchasing an additional 400 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Down 2.2%

NYSE DVN opened at $33.22 on Tuesday. Devon Energy Corporation has a one year low of $25.89 and a one year high of $49.35. The company's 50 day moving average price is $32.69 and its 200 day moving average price is $33.54. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.08. The firm has a market capitalization of $21.33 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 2.53 and a beta of 1.02.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The firm had revenue of $4.45 billion for the quarter, compared to analysts' expectations 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 prior year, the business earned $1.16 EPS. On average, sell-side analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.24 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.89%. Devon Energy's dividend payout ratio (DPR) is presently 21.87%.

Wall Street Analyst Weigh In

DVN has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. UBS Group boosted their price objective on shares of Devon Energy from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday. Citigroup reduced their price objective on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, April 4th. The Goldman Sachs Group boosted their price objective on shares of Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Bank of America reduced their price objective on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.79.

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.

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