Mather Group LLC. Purchases 4,753 Shares of Devon Energy Co. (NYSE:DVN)

Mather Group LLC. raised its holdings in shares of Devon Energy Co. (NYSE:DVN) by 197.1% during the second quarter, Holdings Channel.com reports. The fund owned 7,165 shares of the energy company’s stock after buying an additional 4,753 shares during the period. Mather Group LLC.’s holdings in Devon Energy were worth $360,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DVN. Vanguard Group Inc. boosted its holdings in shares of Devon Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after purchasing an additional 2,559,039 shares during the last quarter. Raymond James & Associates grew its holdings in Devon Energy by 8.9% during the 1st quarter. Raymond James & Associates now owns 9,044,859 shares of the energy company’s stock valued at $453,871,000 after buying an additional 736,449 shares in the last quarter. Victory Capital Management Inc. increased its stake in Devon Energy by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 8,539,335 shares of the energy company’s stock worth $386,832,000 after acquiring an additional 68,339 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Devon Energy by 26.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock worth $320,609,000 after acquiring an additional 1,488,374 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Devon Energy by 3.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,529,487 shares of the energy company’s stock valued at $227,290,000 after acquiring an additional 156,230 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DVN shares. Piper Sandler upped their price target on shares of Devon Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Susquehanna restated a “positive” rating and set a $65.00 target price on shares of Devon Energy in a research report on Tuesday, July 9th. Bank of America reiterated a “buy” rating and issued a $64.00 price target on shares of Devon Energy in a research report on Friday, June 14th. Mizuho upped their price objective on Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Sanford C. Bernstein dropped their target price on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.13.

Devon Energy Price Performance

Devon Energy stock traded up $2.13 during trading on Wednesday, reaching $44.11. The company had a trading volume of 4,615,613 shares, compared to its average volume of 7,235,975. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. The firm’s 50-day simple moving average is $46.55 and its 200 day simple moving average is $47.26. The firm has a market capitalization of $27.88 billion, a PE ratio of 8.01, a price-to-earnings-growth ratio of 0.75 and a beta of 2.07. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the previous year, the company earned $1.18 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts anticipate that Devon Energy Co. will post 5.4 earnings per share for the current fiscal 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.