Private Advisor Group LLC lifted its position in Devon Energy Corp (NYSE:DVN) by 34.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 29,210 shares of the energy company’s stock after acquiring an additional 7,464 shares during the period. Private Advisor Group LLC’s holdings in Devon Energy were worth $923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Morgan Stanley raised its holdings in shares of Devon Energy by 105.9% in the 3rd quarter. Morgan Stanley now owns 2,521,826 shares of the energy company’s stock worth $100,722,000 after buying an additional 1,296,801 shares in the last quarter. Dupont Capital Management Corp increased its holdings in Devon Energy by 135.4% during the 4th quarter. Dupont Capital Management Corp now owns 15,098 shares of the energy company’s stock valued at $340,000 after purchasing an additional 8,685 shares in the last quarter. Redpoint Investment Management Pty Ltd increased its holdings in Devon Energy by 16.4% during the 4th quarter. Redpoint Investment Management Pty Ltd now owns 10,506 shares of the energy company’s stock valued at $237,000 after purchasing an additional 1,483 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Devon Energy by 4.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 19,858 shares of the energy company’s stock valued at $448,000 after purchasing an additional 800 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Devon Energy by 3.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 21,332 shares of the energy company’s stock valued at $481,000 after purchasing an additional 636 shares in the last quarter. Hedge funds and other institutional investors own 84.40% of the company’s stock.

In other Devon Energy news, CAO Jeremy D. Humphers sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $25.40, for a total value of $101,600.00. Following the transaction, the chief accounting officer now directly owns 81,914 shares in the company, valued at approximately $2,080,615.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by company insiders.

Shares of DVN opened at $25.77 on Friday. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 0.81 and a beta of 2.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.37 and a current ratio of 1.37. Devon Energy Corp has a 52 week low of $20.37 and a 52 week high of $46.54.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, April 30th. The energy company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.06. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $2.52 billion. Devon Energy had a return on equity of 7.12% and a net margin of 29.33%. During the same period last year, the company earned $0.20 EPS. Analysts forecast that Devon Energy Corp will post 1.91 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.09 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.40%. Devon Energy’s payout ratio is 27.91%.

DVN has been the subject of a number of recent analyst reports. Royal Bank of Canada set a $42.00 price target on Devon Energy and gave the company a “hold” rating in a report on Thursday, May 2nd. MKM Partners raised their price target on Devon Energy from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 21st. Macquarie set a $40.00 price target on Devon Energy and gave the company a “buy” rating in a report on Thursday, May 2nd. Credit Suisse Group set a $36.00 price target on Devon Energy and gave the company a “buy” rating in a report on Wednesday, February 20th. Finally, TheStreet raised Devon Energy from a “d+” rating to a “c+” rating in a report on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. Devon Energy has a consensus rating of “Hold” and an average price target of $44.35.

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Devon Energy 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 and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

Further Reading: Price to Earnings Ratio (PE)

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

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