Brown Lisle Cummings Inc. Acquires 7,775 Shares of Devon Energy Co. (NYSE:DVN)

Brown Lisle Cummings Inc. boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 294.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,420 shares of the energy company’s stock after acquiring an additional 7,775 shares during the period. Brown Lisle Cummings Inc.’s holdings in Devon Energy were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of DVN. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy in the 3rd quarter valued at about $35,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Devon Energy in the third quarter valued at about $39,000. True Wealth Design LLC increased its position in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares during the last quarter. Finally, Activest Wealth Management increased its position in shares of Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after acquiring an additional 480 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DVN. Mizuho lowered their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Benchmark raised Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, January 14th. Raymond James lifted their target price on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Citigroup lowered their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company lowered their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Trading Up 2.1 %

Shares of DVN stock opened at $34.46 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market cap of $22.63 billion, a P/E ratio of 6.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.98. The stock has a 50 day simple moving average of $34.73 and a 200 day simple moving average of $39.22. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. On average, research analysts predict that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

About Devon Energy

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.