Cantor Fitzgerald Investment Advisors L.P. Grows Position in Devon Energy Co. (NYSE:DVN)

Cantor Fitzgerald Investment Advisors L.P. increased its holdings in Devon Energy Co. (NYSE:DVN) by 65.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,184 shares of the energy company’s stock after purchasing an additional 104,829 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Devon Energy were worth $10,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Triad Wealth Partners LLC purchased a new stake in Devon Energy in the second quarter worth $27,000. Tradewinds Capital Management LLC purchased a new stake in shares of Devon Energy in the 1st quarter worth about $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy during the 2nd quarter valued at about $34,000. PSI Advisors LLC boosted its stake in shares of Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Devon Energy during the first quarter valued at about $39,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on DVN shares. Scotiabank lowered their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. BMO Capital Markets reduced their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company reissued a “sector outperform” rating on shares of Devon Energy in a research report on Friday, October 18th. Wolfe Research began coverage on shares of Devon Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Mizuho decreased their price target on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.53.

Devon Energy Price Performance

Shares of DVN opened at $38.58 on Tuesday. The firm has a market cap of $24.16 billion, a PE ratio of 7.00, a P/E/G ratio of 1.22 and a beta of 2.02. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The firm has a fifty day simple moving average of $41.49 and a two-hundred day simple moving average of $45.64.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the previous year, the company posted $1.18 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities analysts anticipate that Devon Energy Co. will post 4.98 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.28%. Devon Energy’s dividend payout ratio (DPR) is 15.97%.

About Devon Energy

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.