Cantor Fitzgerald Investment Advisors L.P. Sells 18,713 Shares of Devon Energy Co. (NYSE:DVN)

Cantor Fitzgerald Investment Advisors L.P. decreased its position in Devon Energy Co. (NYSE:DVN) by 7.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 246,471 shares of the energy company’s stock after selling 18,713 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Devon Energy were worth $8,067,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Riversedge Advisors LLC raised its position in Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after purchasing an additional 253 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares during the period. Sfmg LLC raised its holdings in shares of Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after acquiring an additional 294 shares in the last quarter. Redwood Wealth Management Group LLC lifted its stake in Devon Energy by 3.9% in the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after acquiring an additional 309 shares during the period. Finally, Brighton Jones LLC lifted its stake in Devon Energy by 0.7% in the third quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock worth $1,663,000 after acquiring an additional 310 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on DVN. Citigroup decreased their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. lowered shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Thursday, December 5th. Mizuho reduced their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Raymond James raised their target price on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Susquehanna reduced their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Stock Performance

Shares of DVN opened at $33.13 on Friday. The company has a market cap of $21.76 billion, a price-to-earnings ratio of 6.15, a P/E/G ratio of 1.07 and a beta of 1.98. The business’s fifty day simple moving average is $34.47 and its two-hundred day simple moving average is $39.05. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the firm posted $1.65 earnings per share. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

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.