Janney Montgomery Scott LLC Acquires 15,723 Shares of Devon Energy Corporation (NYSE:DVN)

Janney Montgomery Scott LLC increased its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,483 shares of the energy company's stock after purchasing an additional 15,723 shares during the period. Janney Montgomery Scott LLC's holdings in Devon Energy were worth $9,331,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Principal Securities Inc. grew its position in Devon Energy by 5.8% during the fourth quarter. Principal Securities Inc. now owns 15,697 shares of the energy company's stock valued at $514,000 after acquiring an additional 858 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Devon Energy by 112.3% in the fourth quarter. Allworth Financial LP now owns 12,906 shares of the energy company's stock worth $422,000 after purchasing an additional 6,827 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Devon Energy by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 746,374 shares of the energy company's stock worth $24,429,000 after purchasing an additional 14,396 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Devon Energy by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 113,245 shares of the energy company's stock worth $3,707,000 after purchasing an additional 6,063 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Devon Energy by 34.8% in the fourth quarter. Venturi Wealth Management LLC now owns 4,198 shares of the energy company's stock worth $137,000 after acquiring an additional 1,084 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on DVN shares. UBS Group dropped 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. Wells Fargo & Company lowered their price target on Devon Energy from $46.00 to $41.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Royal Bank Of Canada reduced their price objective on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a report on Monday, April 14th. Williams Trading set a $50.00 price objective on Devon Energy in a report on Wednesday, March 5th. Finally, Raymond James Financial set a $40.00 price target on Devon Energy in a research note on Monday, April 21st. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

Devon Energy Price Performance

Shares of NYSE DVN traded up $0.21 during midday trading on Friday, reaching $34.25. 14,983,947 shares of the stock traded hands, compared to its average volume of 8,798,081. The company's 50 day moving average is $31.91 and its 200 day moving average is $33.51. Devon Energy Corporation has a one year low of $25.89 and a one year high of $49.35. The stock has a market capitalization of $21.99 billion, a PE ratio of 7.80, a P/E/G ratio of 2.56 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 (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). 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 analysts' expectations of $4.31 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The business's quarterly revenue was up 23.8% on a year-over-year basis. On average, equities research analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 2.80%. Devon Energy's 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.