EverSource Wealth Advisors LLC Has $583,000 Stock Position in Devon Energy Co. (NYSE:DVN)

EverSource Wealth Advisors LLC increased its stake in Devon Energy Co. (NYSE:DVN) by 7.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,389 shares of the energy company’s stock after acquiring an additional 785 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Devon Energy were worth $583,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tradewinds Capital Management LLC acquired a new position in Devon Energy in the first quarter valued at approximately $30,000. Manchester Capital Management LLC bought a new stake in Devon Energy during the fourth quarter worth $28,000. Jones Financial Companies Lllp grew its holdings in Devon Energy by 104.8% during the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after buying an additional 374 shares in the last quarter. LRI Investments LLC bought a new position in Devon Energy in the 1st quarter valued at $39,000. Finally, PFS Partners LLC bought a new position in Devon Energy in the 4th quarter valued at $36,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on DVN. Bank of America reaffirmed a “buy” rating and set a $64.00 price target on shares of Devon Energy in a research report on Friday, June 14th. Citigroup raised their price target on Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Piper Sandler increased their price objective on Devon Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Wolfe Research began coverage on Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Susquehanna reiterated a “positive” rating and set a $65.00 price objective on shares of Devon Energy in a research report on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $59.13.

Devon Energy Trading Down 5.0 %

NYSE DVN traded down $2.27 on Friday, hitting $42.79. The company’s stock had a trading volume of 12,250,306 shares, compared to its average volume of 6,460,859. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. The company’s 50-day simple moving average is $46.83 and its 200 day simple moving average is $47.17. The firm has a market cap of $27.04 billion, a P/E ratio of 8.17, a PEG 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 for the quarter, topping the consensus estimate of $1.10 by $0.06. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the business posted $1.46 EPS. The business’s revenue was down 5.9% on a year-over-year basis. Research analysts predict 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 firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was 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 in the company, valued at approximately $5,317,449.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.73% of the company’s stock.

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.