Moors & Cabot Inc. lowered its holdings in shares of Devon Energy Co. (NYSE:DVN – Free Report) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,013 shares of the energy company’s stock after selling 854 shares during the period. Moors & Cabot Inc.’s holdings in Devon Energy were worth $1,741,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in DVN. Crewe Advisors LLC grew its stake in Devon Energy by 16,633.3% in the first quarter. Crewe Advisors LLC now owns 502 shares of the energy company’s stock valued at $25,000 after acquiring an additional 499 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Devon Energy in the 1st quarter worth $26,000. KB Financial Partners LLC acquired a new stake in Devon Energy in the 1st quarter valued at $26,000. Quintet Private Bank Europe S.A. bought a new stake in Devon Energy during the 1st quarter valued at $31,000. Finally, Fortis Capital Advisors LLC acquired a new position in Devon Energy during the fourth quarter worth $31,000. 68.34% of the stock is currently owned by institutional investors.
Devon Energy Trading Down 2.7 %
NYSE DVN traded down $1.23 during trading on Thursday, hitting $44.29. The stock had a trading volume of 1,621,627 shares, compared to its average volume of 8,935,167. The stock has a market capitalization of $28.38 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 0.15 and a beta of 2.30. The stock has a 50 day simple moving average of $47.47 and a 200 day simple moving average of $48.95. Devon Energy Co. has a one year low of $42.59 and a one year high of $71.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 0.96.
Devon Energy Increases Dividend
Wall Street Analyst Weigh In
DVN has been the subject of a number of recent analyst reports. Pickering Energy Partners raised shares of Devon Energy from a “neutral” rating to an “outperform” rating in a research report on Thursday, November 9th. Stifel Nicolaus boosted their target price on shares of Devon Energy from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, August 25th. Sanford C. Bernstein lowered shares of Devon Energy from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a research note on Tuesday, October 17th. UBS Group dropped their price objective on Devon Energy from $54.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on Devon Energy from $60.00 to $59.00 in a research report on Wednesday, October 11th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.
Devon Energy Profile
Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
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