Stephens Inc. AR Purchases 905 Shares of Devon Energy Co. (NYSE:DVN)

Stephens Inc. AR grew its position in Devon Energy Co. (NYSE:DVN) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,095 shares of the energy company’s stock after acquiring an additional 905 shares during the period. Stephens Inc. AR’s holdings in Devon Energy were worth $864,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DVN. Triad Wealth Partners LLC bought a new position in Devon Energy during the second quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Devon Energy during the 2nd quarter worth approximately $34,000. PSI Advisors LLC lifted its holdings in Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. LRI Investments LLC bought a new position in Devon Energy during the first quarter worth $39,000. Finally, Manchester Capital Management LLC increased its holdings in shares of Devon Energy by 40.9% in the first quarter. Manchester Capital Management LLC now owns 861 shares of the energy company’s stock valued at $43,000 after purchasing an additional 250 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DVN. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a report on Tuesday, September 3rd. Evercore ISI reduced their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Barclays lowered their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price target on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Finally, Mizuho lowered their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.15.

Devon Energy Trading Up 0.5 %

Shares of DVN stock opened at $39.33 on Wednesday. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The stock’s fifty day moving average price is $40.92 and its two-hundred day moving average price is $45.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The company has a market cap of $24.63 billion, a PE ratio of 7.14, a P/E/G ratio of 1.18 and a beta of 2.03.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. Devon Energy’s revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $1.18 earnings per share. Equities analysts predict that Devon Energy Co. will post 4.93 EPS for the current fiscal year.

About Devon Energy

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.