10,284 Shares in Devon Energy Corporation (NYSE:DVN) Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. bought a new stake in Devon Energy Corporation (NYSE:DVN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,284 shares of the energy company's stock, valued at approximately $385,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hurley Capital LLC purchased a new stake in Devon Energy in the 4th quarter worth approximately $26,000. Accredited Wealth Management LLC purchased a new stake in Devon Energy during the fourth quarter valued at about $28,000. Rakuten Securities Inc. increased its holdings in shares of Devon Energy by 94.6% in the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock worth $31,000 after buying an additional 405 shares during the period. Salem Investment Counselors Inc. raised its position in Devon Energy by 46.7% during 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 during the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Devon Energy by 100.1% during the first quarter. Sound Income Strategies LLC now owns 1,911 shares of the energy company's stock valued at $71,000 after buying an additional 956 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DVN shares. Scotiabank dropped their target price on shares of Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Royal Bank Of Canada dropped 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. Susquehanna lowered their target price on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company decreased their target price on Devon Energy from $46.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. Finally, Williams Trading set a $50.00 price target on Devon Energy in a report on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Devon Energy presently has a consensus rating of "Moderate Buy" and an average price target of $43.50.

Devon Energy Price Performance

Shares of DVN stock traded up $0.74 during midday trading on Wednesday, reaching $33.39. 3,871,562 shares of the company traded hands, compared to its average volume of 8,823,676. The firm's 50 day simple moving average is $32.29 and its two-hundred day simple moving average is $33.39. The firm has a market cap of $21.44 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 2.37 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 1-year low of $25.89 and a 1-year high of $49.35.

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

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Friday, June 13th. Devon Energy's dividend payout ratio (DPR) 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.