Cerity Partners LLC Purchases 88,755 Shares of Devon Energy Corporation $DVN

Cerity Partners LLC boosted its position in Devon Energy Corporation (NYSE:DVN) by 35.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 338,016 shares of the energy company’s stock after buying an additional 88,755 shares during the period. Cerity Partners LLC owned approximately 0.05% of Devon Energy worth $10,752,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DVN. Jump Financial LLC lifted its stake in shares of Devon Energy by 58.8% in the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock valued at $899,000 after purchasing an additional 10,464 shares during the period. Cresset Asset Management LLC increased its holdings in Devon Energy by 3.3% in the second quarter. Cresset Asset Management LLC now owns 107,947 shares of the energy company’s stock worth $3,434,000 after purchasing an additional 3,497 shares in the last quarter. Amundi lifted its stake in Devon Energy by 3.1% in the second quarter. Amundi now owns 2,395,225 shares of the energy company’s stock valued at $80,024,000 after buying an additional 71,287 shares during the period. M Holdings Securities Inc. lifted its stake in Devon Energy by 4.6% in the second quarter. M Holdings Securities Inc. now owns 13,554 shares of the energy company’s stock valued at $431,000 after buying an additional 591 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Devon Energy during the 2nd quarter worth approximately $14,105,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DVN. UBS Group lifted their price objective on shares of Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Morgan Stanley reduced their price target on shares of Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Sanford C. Bernstein upped their price objective on shares of Devon Energy from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Raymond James Financial raised their target price on Devon Energy from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Capital One Financial decreased their target price on Devon Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.55.

Devon Energy Stock Performance

Shares of DVN opened at $38.39 on Thursday. The firm has a market capitalization of $24.08 billion, a P/E ratio of 9.03, a P/E/G ratio of 2.88 and a beta of 0.62. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $38.88. The stock has a 50 day moving average price of $34.52 and a two-hundred day moving average price of $33.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96.

Devon Energy (NYSE:DVN) last announced its earnings results 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. The company had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same quarter in the previous year, the firm earned $1.10 earnings per share. Equities analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a $0.24 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. Devon Energy’s dividend payout ratio is currently 22.59%.

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.