Chicago Partners Investment Group LLC Raises Holdings in Devon Energy Co. (NYSE:DVN)

Chicago Partners Investment Group LLC raised its stake in Devon Energy Co. (NYSE:DVN) by 12.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,346 shares of the energy company’s stock after purchasing an additional 789 shares during the period. Chicago Partners Investment Group LLC’s holdings in Devon Energy were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Devon Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after buying an additional 2,559,039 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after acquiring an additional 2,226,983 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Devon Energy by 16.8% during the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock worth $469,901,000 after acquiring an additional 1,428,776 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Devon Energy by 7,165.6% during the second quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock worth $65,234,000 after purchasing an additional 1,357,311 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after purchasing an additional 1,255,543 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on DVN shares. StockNews.com cut shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. BMO Capital Markets reduced their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. UBS Group decreased their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Wolfe Research started coverage on Devon Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Evercore ISI decreased their target price on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $52.15.

Devon Energy Stock Up 0.5 %

Devon Energy stock opened at $39.33 on Wednesday. The stock’s 50 day moving average price is $40.92 and its 200 day moving average price is $45.15. The company has a market cap of $24.63 billion, a PE ratio of 7.14, a price-to-earnings-growth ratio of 1.18 and a beta of 2.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 EPS. On average, sell-side 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.