Commerce Bank Has $869,000 Stock Holdings in Devon Energy Corporation (NYSE:DVN)

by · The Markets Daily

Commerce Bank trimmed its position in shares of Devon Energy Corporation (NYSE:DVN – Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,237 shares of the energy company’s stock after selling 2,645 shares during the quarter. Commerce Bank’s holdings in Devon Energy were worth $869,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. bought a new position in Devon Energy during the fourth quarter worth about $5,967,000. Cantor Fitzgerald Investment Advisors L.P. grew its position in shares of Devon Energy by 10.8% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 272,990 shares of the energy company’s stock valued at $10,210,000 after purchasing an additional 26,519 shares during the period. Merit Financial Group LLC increased its stake in Devon Energy by 209.5% during the 1st quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company’s stock worth $848,000 after purchasing an additional 15,351 shares in the last quarter. Aviva PLC raised its holdings in Devon Energy by 767.3% during the 4th quarter. Aviva PLC now owns 376,999 shares of the energy company’s stock worth $12,339,000 after buying an additional 333,530 shares during the period. Finally, Autumn Glory Partners LLC raised its holdings in Devon Energy by 93.6% during the 1st quarter. Autumn Glory Partners LLC now owns 41,368 shares of the energy company’s stock worth $1,547,000 after buying an additional 20,000 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 1.2%

Shares of DVN opened at $32.33 on Wednesday. The firm has a market cap of $20.76 billion, a P/E ratio of 7.36, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.08. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $46.04. The firm’s 50-day simple moving average is $32.96 and its 200 day simple moving average is $33.31.

Devon Energy (NYSE:DVN – Get Free Report) last announced its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. On average, analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DVN. Jefferies Financial Group raised their price objective on shares of Devon Energy from $31.00 to $33.00 and gave the stock a “hold” rating in a report on Monday, July 14th. JPMorgan Chase & Co. increased their target price on Devon Energy from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Mizuho cut their price target on Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Wolfe Research increased their price objective on Devon Energy from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, June 23rd. Finally, Barclays boosted their target price on Devon Energy from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.85.

Read Our Latest Research Report on DVN

Devon Energy Profile

(Free Report)

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.

See Also

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