Mather Group LLC. Has $360,000 Position in Devon Energy Co. (NYSE:DVN)

Mather Group LLC. grew its holdings in Devon Energy Co. (NYSE:DVN) by 197.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,165 shares of the energy company’s stock after purchasing 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 quarter.

Other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its holdings in shares of Devon Energy by 39.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 197,726 shares of the energy company’s stock valued at $9,008,000 after purchasing an additional 55,459 shares during the period. Strategic Blueprint LLC grew its position in shares of Devon Energy by 44.5% in the fourth quarter. Strategic Blueprint LLC now owns 10,685 shares of the energy company’s stock valued at $484,000 after purchasing an additional 3,288 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in shares of Devon Energy by 5.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 6,217 shares of the energy company’s stock worth $282,000 after purchasing an additional 333 shares during the period. Schwartz Investment Counsel Inc. lifted its holdings in Devon Energy by 22.9% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 32,200 shares of the energy company’s stock worth $1,459,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Devon Energy by 300.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 47,890 shares of the energy company’s stock valued at $2,169,000 after purchasing an additional 35,936 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of DVN traded up $2.13 during midday trading on Wednesday, hitting $44.11. 4,615,613 shares of the company traded hands, compared to its average volume of 7,235,975. The stock has a 50-day moving average of $46.55 and a 200-day moving average of $47.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The firm has a market cap of $27.88 billion, a P/E ratio of 8.01, a PEG ratio of 0.75 and a beta of 2.07.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter last year, the business posted $1.18 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Devon Energy Co. will post 5.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DVN. BMO Capital Markets raised shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. UBS Group upped their target price on Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, July 9th. Barclays started coverage on Devon Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price objective for the company. Finally, Morgan Stanley upped their target price on Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.13.

Devon Energy 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.