Capital Asset Advisory Services LLC Makes New Investment in Devon Energy Co. (NYSE:DVN)


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Capital Asset Advisory Services LLC bought a new stake in shares of Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,895 shares of the energy company’s stock, valued at approximately $93,000.

Several other institutional investors and hedge funds have also modified their holdings of DVN. Dimensional Fund Advisors LP boosted its holdings in shares of Devon Energy by 23.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,288,528 shares of the energy company’s stock worth $115,241,000 after purchasing an additional 1,391,512 shares during the period. Nuveen Asset Management LLC lifted its position in Devon Energy by 50.4% in the 4th quarter. Nuveen Asset Management LLC now owns 5,436,119 shares of the energy company’s stock worth $85,945,000 after buying an additional 1,822,067 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Devon Energy by 14.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,818,069 shares of the energy company’s stock valued at $76,175,000 after buying an additional 621,600 shares during the period. Northern Trust Corp grew its holdings in shares of Devon Energy by 6.7% during the 4th quarter. Northern Trust Corp now owns 4,207,277 shares of the energy company’s stock valued at $66,517,000 after acquiring an additional 265,426 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Devon Energy by 284.4% in the third quarter. Point72 Asset Management L.P. now owns 3,589,209 shares of the energy company’s stock worth $33,954,000 after acquiring an additional 2,655,443 shares during the last quarter. Institutional investors own 80.86% of the company’s stock.

In other news, Director Felix Investments Holdings Ii, sold 29,579,389 shares of the firm’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $21.05, for a total value of $622,646,138.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.59% of the company’s stock.

NYSE DVN opened at $22.52 on Thursday. Devon Energy Co. has a 1-year low of $7.73 and a 1-year high of $26.13. The company has a 50 day moving average of $22.77 and a 200-day moving average of $16.20. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.36. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of -2.63, a PEG ratio of 28.23 and a beta of 3.46.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 16th. The energy company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.02). Devon Energy had a positive return on equity of 2.38% and a negative net margin of 62.68%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned $0.36 earnings per share. On average, analysts forecast that Devon Energy Co. will post -0.07 earnings per share for the current year.

DVN has been the topic of a number of research reports. Northland Securities boosted their target price on shares of Devon Energy from $20.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, April 1st. Citigroup upped their price objective on shares of Devon Energy from $24.00 to $29.00 in a research report on Tuesday, March 23rd. JPMorgan Chase & Co. boosted their price target on Devon Energy from $22.00 to $30.00 in a research note on Thursday, March 18th. US Capital Advisors reissued a “buy” rating on shares of Devon Energy in a report on Wednesday, January 13th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on Devon Energy from $24.00 to $29.00 in a research note on Tuesday, March 23rd. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $22.82.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 3,942 gross wells. Devon Energy Corporation was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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