Devon Energy Co. (NYSE:DVN) Shares Purchased by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. raised its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 294.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,420 shares of the energy company's stock after purchasing 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 (SEC).

Other hedge funds have also modified their holdings of the company. Algert Global LLC increased its position in shares of Devon Energy by 17.8% in the 2nd quarter. Algert Global LLC now owns 9,719 shares of the energy company's stock valued at $461,000 after acquiring an additional 1,466 shares during the period. Czech National Bank grew its stake in Devon Energy by 5.9% during the 3rd quarter. Czech National Bank now owns 127,563 shares of the energy company's stock valued at $4,990,000 after purchasing an additional 7,129 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Devon Energy in the third quarter valued at about $616,000. Sugarloaf Wealth Management LLC raised its stake in shares of Devon Energy by 56.1% in the third quarter. Sugarloaf Wealth Management LLC now owns 6,069 shares of the energy company's stock worth $237,000 after purchasing an additional 2,181 shares during the last quarter. Finally, Brookstone Capital Management boosted its position in Devon Energy by 19.2% in the third quarter. Brookstone Capital Management now owns 10,458 shares of the energy company's stock valued at $409,000 after buying an additional 1,687 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DVN has been the subject of several research reports. Benchmark upgraded shares of Devon Energy from a "hold" rating to a "buy" rating and set a $44.00 price objective for the company in a research note on Tuesday, January 14th. Raymond James boosted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Wolfe Research raised Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a research report on Friday, January 3rd. Mizuho reduced their price objective on Devon Energy from $51.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Finally, StockNews.com upgraded Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $49.45.

Devon Energy Trading Down 0.8 %

NYSE:DVN traded down $0.29 during trading hours on Wednesday, reaching $34.14. 7,591,442 shares of the stock were exchanged, compared to its average volume of 9,578,988. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $34.73 and a two-hundred day moving average of $39.22. The company has a market capitalization of $22.42 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 1.07 and a beta of 1.98.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. The company 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%. Devon Energy's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.65 EPS. On average, equities analysts predict that Devon Energy Co. will post 4.68 EPS for the current year.

Devon Energy Company 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.