Clear Creek Financial Management LLC Boosts Stock Holdings in Devon Energy Co. (NYSE:DVN)

Clear Creek Financial Management LLC raised its holdings in shares of Devon Energy Co. (NYSE:DVN) by 7.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,193 shares of the energy company’s stock after buying an additional 409 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Devon Energy were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of DVN. Triad Wealth Partners LLC bought a new position in Devon Energy during the second quarter valued at $27,000. 1620 Investment Advisors Inc. bought a new position in Devon Energy during the second quarter valued at $34,000. PSI Advisors LLC lifted its position in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. LRI Investments LLC bought a new position in Devon Energy during the first quarter valued at $39,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Devon Energy in the 3rd quarter worth about $39,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 2.2 %

NYSE DVN opened at $39.15 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The company has a market capitalization of $24.52 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03. The company’s 50-day simple moving average is $41.04 and its two-hundred day simple moving average is $45.24. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business 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 firm posted $1.18 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts forecast that Devon Energy Co. will post 4.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DVN. Royal Bank of Canada restated a “sector perform” rating and issued a $57.00 target price on shares of Devon Energy in a report on Tuesday, September 3rd. Wells Fargo & Company restated a “sector outperform” rating on shares of Devon Energy in a report on Friday, October 18th. Barclays lowered their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Morgan Stanley decreased their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Scotiabank decreased 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. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.53.

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.