AdvisorShares Investments LLC Purchases Shares of 13,700 Devon Energy Corporation $DVN

AdvisorShares Investments LLC purchased a new position in shares of Devon Energy Corporation (NYSE:DVN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,700 shares of the energy company’s stock, valued at approximately $480,000.

Other large investors also recently made changes to their positions in the company. PFS Partners LLC acquired a new position in Devon Energy during the third quarter worth $25,000. First Horizon Corp acquired a new position in shares of Devon Energy during the 3rd quarter worth about $26,000. Caldwell Trust Co bought a new stake in shares of Devon Energy in the 2nd quarter valued at about $25,000. ORG Partners LLC raised its holdings in shares of Devon Energy by 65.7% in the 3rd quarter. ORG Partners LLC now owns 888 shares of the energy company’s stock valued at $31,000 after purchasing an additional 352 shares during the period. Finally, American National Bank & Trust lifted its stake in Devon Energy by 2,638.9% in the 3rd quarter. American National Bank & Trust now owns 986 shares of the energy company’s stock valued at $35,000 after purchasing an additional 950 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Johnson Rice lowered their price target on Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, December 5th. Morgan Stanley dropped their price target on Devon Energy from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Citigroup lifted their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. The Goldman Sachs Group increased their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Argus raised shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.97.

Devon Energy Stock Up 1.6%

DVN opened at $43.88 on Monday. The stock has a fifty day moving average of $37.59 and a 200-day moving average of $35.38. The company has a market capitalization of $27.53 billion, a P/E ratio of 10.32, a P/E/G ratio of 3.83 and a beta of 0.61. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $44.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96.

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.