First Dallas Securities Inc. Has $337,000 Holdings in Devon Energy Corporation $DVN

First Dallas Securities Inc. lowered its position in Devon Energy Corporation (NYSE:DVN) by 69.7% during the third quarter, Holdings Channel reports. The firm owned 9,623 shares of the energy company’s stock after selling 22,146 shares during the period. First Dallas Securities Inc.’s holdings in Devon Energy were worth $337,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after acquiring an additional 2,802,137 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Devon Energy by 83.9% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock valued at $145,311,000 after purchasing an additional 2,083,600 shares in the last quarter. Sourcerock Group LLC boosted its position in shares of Devon Energy by 2,132.3% during the 2nd quarter. Sourcerock Group LLC now owns 1,751,276 shares of the energy company’s stock valued at $55,708,000 after purchasing an additional 1,672,824 shares in the last quarter. Prudential Financial Inc. grew its stake in Devon Energy by 93.4% during the second quarter. Prudential Financial Inc. now owns 1,506,329 shares of the energy company’s stock worth $47,916,000 after purchasing an additional 727,532 shares during the period. Finally, American Century Companies Inc. increased its holdings in Devon Energy by 44.6% in the second quarter. American Century Companies Inc. now owns 1,638,065 shares of the energy company’s stock worth $52,107,000 after purchasing an additional 505,382 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DVN shares. Johnson Rice dropped their price target on Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, December 5th. Morgan Stanley dropped their target price on shares of Devon Energy from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. UBS Group set a $50.00 target price on shares of Devon Energy in a research note on Wednesday. Weiss Ratings raised shares of Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Finally, Roth Mkm reiterated a “buy” rating and set a $42.00 price objective on shares of Devon Energy in a report on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.97.

Devon Energy Trading Up 1.6%

NYSE:DVN opened at $43.88 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. Devon Energy Corporation has a one year low of $25.89 and a one year high of $44.00. The company has a market cap of $27.53 billion, a PE ratio of 10.32, a PEG ratio of 3.83 and a beta of 0.61. The firm has a 50-day moving average of $37.59 and a 200-day moving average of $35.36.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. During the same quarter last year, the firm earned $1.10 EPS. As a group, equities research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.