Cerity Partners LLC Boosts Holdings in Devon Energy Co. (NYSE:DVN)

Cerity Partners LLC lifted its position in shares of Devon Energy Co. (NYSE:DVN) by 97.7% during the third quarter, HoldingsChannel reports. The firm owned 208,596 shares of the energy company’s stock after purchasing an additional 103,094 shares during the quarter. Cerity Partners LLC’s holdings in Devon Energy were worth $8,160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in Devon Energy during the 2nd quarter worth approximately $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy in the second quarter worth $34,000. PSI Advisors LLC raised its holdings in Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares in the last quarter. LRI Investments LLC acquired a new position in Devon Energy during the 1st quarter worth $39,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Devon Energy in the 3rd quarter worth about $35,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Trading Up 0.3 %

Shares of DVN stock opened at $37.83 on Thursday. Devon Energy Co. has a 1 year low of $37.28 and a 1 year high of $55.09. The firm has a market capitalization of $24.85 billion, a PE ratio of 7.02, a price-to-earnings-growth ratio of 1.21 and a beta of 2.03. The stock has a fifty day moving average of $39.85 and a two-hundred day moving average of $43.73. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.65 earnings per share. As a group, research analysts expect that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.33%. Devon Energy’s dividend payout ratio is presently 16.33%.

Analyst Ratings Changes

Several equities analysts have recently commented on DVN shares. Susquehanna reduced their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. JPMorgan Chase & Co. reduced their target price on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Morgan Stanley lowered their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Jefferies Financial Group began coverage on Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective on the stock. Finally, Mizuho lowered their target price on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Hold” and a consensus price target of $51.15.

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.