AdvisorShares Investments LLC Invests $480,000 in Devon Energy Corporation $DVN

AdvisorShares Investments LLC purchased a new stake in Devon Energy Corporation (NYSE:DVN) during the third quarter, according to its most recent filing with the SEC. The firm purchased 13,700 shares of the energy company’s stock, valued at approximately $480,000.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Devon Energy by 1.2% during the second quarter. Geode Capital Management LLC now owns 18,595,683 shares of the energy company’s stock worth $589,399,000 after purchasing an additional 218,034 shares in the last quarter. AQR Capital Management LLC raised its stake in Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after buying an additional 2,802,137 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Devon Energy by 1.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,784,270 shares of the energy company’s stock worth $152,188,000 after acquiring an additional 77,433 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Devon Energy by 5.5% during the third quarter. Thrivent Financial for Lutherans now owns 4,712,190 shares of the energy company’s stock worth $165,210,000 after acquiring an additional 246,179 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in Devon Energy by 83.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock valued at $145,311,000 after acquiring an additional 2,083,600 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DVN shares. Sanford C. Bernstein dropped their price target on Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Citigroup raised their target price on shares of Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Raymond James Financial lifted their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Johnson Rice lowered their price objective on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, December 5th. Finally, Siebert Williams Shank boosted their price objective on shares of Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $45.97.

Devon Energy Stock Performance

Shares of DVN opened at $43.88 on Monday. The stock has a market capitalization of $27.53 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 3.83 and a beta of 0.61. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $44.00. The firm has a fifty day simple moving average of $37.59 and a 200 day simple moving average of $35.38. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48.

Devon Energy Profile

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.