Cantor Fitzgerald Investment Advisors L.P. Has $8.07 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Cantor Fitzgerald Investment Advisors L.P. cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 246,471 shares of the energy company’s stock after selling 18,713 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Devon Energy were worth $8,067,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DVN. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy in the third quarter worth approximately $35,000. Future Financial Wealth Managment LLC bought a new stake in Devon Energy during the third quarter worth $39,000. True Wealth Design LLC raised its position in Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares in the last quarter. Finally, Activest Wealth Management boosted its holdings in Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Down 0.9 %

Shares of NYSE DVN opened at $33.13 on Friday. The stock has a market capitalization of $21.76 billion, a P/E ratio of 6.15, a PEG ratio of 1.07 and a beta of 1.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The firm’s 50 day simple moving average is $34.47 and its two-hundred day simple moving average is $39.05.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 earnings per share. As a group, analysts expect that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DVN. TD Cowen reduced their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Susquehanna lowered their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Mizuho lowered their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Wednesday, January 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.45.

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.