Westwood Holdings Group Inc. Raises Stock Holdings in Devon Energy Co. (NYSE:DVN)

Westwood Holdings Group Inc. raised its position in shares of Devon Energy Co. (NYSE:DVN) by 27.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,637 shares of the energy company’s stock after purchasing an additional 10,548 shares during the period. Westwood Holdings Group Inc.’s holdings in Devon Energy were worth $2,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of DVN. Creekmur Asset Management LLC bought a new position in shares of Devon Energy in the fourth quarter worth $791,000. Wahed Invest LLC boosted its stake in Devon Energy by 6.3% during the fourth quarter. Wahed Invest LLC now owns 10,944 shares of the energy company’s stock valued at $496,000 after buying an additional 648 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Devon Energy by 39.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 197,726 shares of the energy company’s stock valued at $9,008,000 after buying an additional 55,459 shares during the period. Tradewinds Capital Management LLC bought a new stake in Devon Energy during the first quarter valued at $30,000. Finally, MCF Advisors LLC boosted its stake in Devon Energy by 5.6% during the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock valued at $202,000 after buying an additional 215 shares during the period. 69.72% of the stock is owned by institutional investors.

Devon Energy Price Performance

Shares of DVN traded down $2.27 during midday trading on Friday, hitting $42.79. 12,250,306 shares of the company traded hands, compared to its average volume of 6,460,859. The firm has a 50 day moving average of $46.83 and a 200-day moving average of $47.21. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09. The stock has a market cap of $27.04 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 0.75 and a beta of 2.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, beating 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 business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business’s revenue was down 5.9% on a year-over-year basis. On average, analysts forecast that Devon Energy Co. will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at Devon Energy

In related news, EVP Tana K. Cashion sold 20,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the transaction, the executive vice president now owns 104,182 shares of the company’s stock, valued at approximately $5,317,449.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, July 9th. StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. Barclays initiated coverage on Devon Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 price objective for the company. Scotiabank lowered their price target on Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. raised their price target on Devon Energy from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus target price of $59.13.

Devon Energy 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.