Devon Energy Co. (NYSE:DVN) Shares Purchased by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. raised its position in Devon Energy Co. (NYSE:DVN) by 27.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 48,637 shares of the energy company’s stock after acquiring an additional 10,548 shares during the period. Westwood Holdings Group Inc.’s holdings in Devon Energy were worth $2,441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tradewinds Capital Management LLC purchased a new stake in shares of Devon Energy in the 1st quarter valued at approximately $30,000. Manchester Capital Management LLC purchased a new stake in shares of Devon Energy in the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp increased its stake in Devon Energy by 104.8% during the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after buying an additional 374 shares during the period. LRI Investments LLC purchased a new stake in Devon Energy during the 1st quarter worth approximately $39,000. Finally, PFS Partners LLC purchased a new stake in shares of Devon Energy in the 4th quarter valued at approximately $36,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DVN. Susquehanna restated a “positive” rating and issued a $65.00 target price on shares of Devon Energy in a report on Tuesday, July 9th. Scotiabank lowered their target price on shares of Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 target price on shares of Devon Energy in a report on Tuesday, July 9th. BMO Capital Markets upgraded shares of Devon Energy to a “strong-buy” rating in a research note on Wednesday, July 3rd. Finally, UBS Group lifted their target price on shares of Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.13.

Devon Energy Trading Down 5.0 %

DVN traded down $2.27 during trading on Friday, hitting $42.79. 12,250,306 shares of the company’s stock were exchanged, compared to its average volume of 6,460,859. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $55.09. The stock has a 50 day moving average price of $46.83 and a 200 day moving average price of $47.21. The firm has a market cap of $27.04 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 0.75 and a beta of 2.07.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. Devon Energy’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, analysts expect that Devon Energy Co. will post 5.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Tana K. Cashion sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the transaction, the executive vice president now directly owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.73% of the stock is owned by insiders.

Devon Energy Company Profile

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.