MQS Management LLC Purchases Shares of 10,010 Devon Energy Corporation (NYSE:DVN)

MQS Management LLC acquired a new position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,010 shares of the energy company's stock, valued at approximately $374,000.

Several other institutional investors have also modified their holdings of the stock. CWM LLC raised its stake in Devon Energy by 237.6% during the 1st quarter. CWM LLC now owns 88,357 shares of the energy company's stock worth $3,305,000 after acquiring an additional 62,182 shares in the last quarter. Greatmark Investment Partners Inc. increased its position in shares of Devon Energy by 7.9% during the first quarter. Greatmark Investment Partners Inc. now owns 476,687 shares of the energy company's stock worth $17,828,000 after purchasing an additional 35,060 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Devon Energy in the 1st quarter valued at about $38,000. Speece Thorson Capital Group Inc. boosted its position in shares of Devon Energy by 1.7% in the 1st quarter. Speece Thorson Capital Group Inc. now owns 320,188 shares of the energy company's stock valued at $11,975,000 after purchasing an additional 5,418 shares during the period. Finally, Stephens Inc. AR grew its stake in Devon Energy by 106.2% during the 1st quarter. Stephens Inc. AR now owns 38,098 shares of the energy company's stock worth $1,425,000 after buying an additional 19,623 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DVN shares. Citigroup decreased their price objective on Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a report on Friday, April 4th. UBS Group raised their price objective on shares of Devon Energy from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Friday. Wall Street Zen raised shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Morgan Stanley increased their target price on shares of Devon Energy from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Finally, Mizuho dropped their price target on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.79.

Devon Energy Stock Performance

NYSE DVN opened at $33.99 on Monday. The business has a 50 day moving average price of $32.69 and a 200 day moving average price of $33.54. The company has a market capitalization of $21.82 billion, a P/E ratio of 7.74, a PEG ratio of 2.53 and a beta of 1.02. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $49.35. 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 announced its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The firm had revenue of $4.45 billion during 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 quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 EPS. Sell-side analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 2.82%. The ex-dividend date was Friday, June 13th. Devon Energy's payout ratio is currently 21.87%.

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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