Cetera Investment Advisers Acquires 33,315 Shares of Devon Energy Corporation (NYSE:DVN)

Cetera Investment Advisers grew its holdings in Devon Energy Corporation (NYSE:DVN - Free Report) by 13.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 279,775 shares of the energy company's stock after purchasing an additional 33,315 shares during the quarter. Cetera Investment Advisers' holdings in Devon Energy were worth $10,464,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Financial Gravity Asset Management Inc. acquired a new position in Devon Energy during the 1st quarter worth $26,000. Hurley Capital LLC acquired a new position in Devon Energy during the 4th quarter worth $26,000. Rakuten Securities Inc. lifted its holdings in Devon Energy by 94.6% during the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock worth $31,000 after buying an additional 405 shares in the last quarter. Accredited Wealth Management LLC acquired a new position in Devon Energy during the 4th quarter worth $28,000. Finally, Hughes Financial Services LLC acquired a new position in Devon Energy during the 1st quarter worth $38,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DVN. Mizuho reduced their price objective on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Wolfe Research increased their price target on Devon Energy from $47.00 to $49.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Raymond James Financial reissued an "outperform" rating and issued a $45.00 price target (up previously from $40.00) on shares of Devon Energy in a research note on Tuesday, July 22nd. Jefferies Financial Group increased their price target on Devon Energy from $31.00 to $33.00 and gave the company a "hold" rating in a research note on Monday, July 14th. Finally, Royal Bank Of Canada cut their price target on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Devon Energy currently has an average rating of "Moderate Buy" and a consensus target price of $43.85.

Devon Energy Stock Down 1.6%

DVN stock traded down $0.54 during trading hours on Thursday, reaching $33.22. 5,465,621 shares of the stock were exchanged, compared to its average volume of 6,922,595. The firm's 50-day moving average is $32.90 and its 200-day moving average is $33.46. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 1.91 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. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $47.44.

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

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is 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.