Cerity Partners LLC Purchases 90,344 Shares of Devon Energy Corporation $DVN

Cerity Partners LLC raised its position in Devon Energy Corporation (NYSE:DVN) by 26.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 428,360 shares of the energy company’s stock after purchasing an additional 90,344 shares during the quarter. Cerity Partners LLC owned 0.07% of Devon Energy worth $15,018,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. PFS Partners LLC bought a new position in shares of Devon Energy during the third quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in Devon Energy during the 2nd quarter worth approximately $25,000. Caldwell Trust Co bought a new position in shares of Devon Energy during the 2nd quarter worth approximately $25,000. Trust Co. of Vermont raised its holdings in shares of Devon Energy by 241.3% in the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after purchasing an additional 666 shares during the last quarter. Finally, American National Bank & Trust lifted its position in shares of Devon Energy by 2,638.9% in the third quarter. American National Bank & Trust now owns 986 shares of the energy company’s stock worth $35,000 after purchasing an additional 950 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Raymond James Financial raised their target price on shares of Devon Energy from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Susquehanna raised their price objective on Devon Energy from $40.00 to $42.00 and gave the company a “positive” rating in a report on Wednesday, November 12th. The Goldman Sachs Group lifted their target price on Devon Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. BMO Capital Markets dropped their target price on Devon Energy from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. Finally, Barclays decreased their price target on Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.62.

Devon Energy Trading Down 0.9%

Shares of NYSE:DVN opened at $35.76 on Friday. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $38.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. The company has a market capitalization of $22.43 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 2.93 and a beta of 0.60. The company has a 50-day simple moving average of $35.96 and a 200 day simple moving average of $34.52.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The firm had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. Sell-side analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Monday, December 15th. Devon Energy’s dividend payout ratio is 22.59%.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.