Devon Energy Corp (NYSE:DVN).
Thornburg Investment Management Inc says it bought 297,638 shares last quarter increasing its stake in Devon Energy Corp (DVN) by 40.2%. Its stake was valued at $38,124,000 an increase of 61.0% as of quarter end.
Several firms have updated their holdings. Baird Financial Group, Inc. bolstered its holdings by buying 12,734 shares an increase of 12.7% as of 09/30/2017. Baird Financial Group, Inc. now holds 113,002 shares worth $4,148,000. The value of the position overall is up by 29.4%. Bridgewater Wealth & Financial Management, LLC divested its stake by selling 10,056 shares a decrease of 7.3% from 06/30/2017 to 09/30/2017. Bridgewater Wealth & Financial Management, LLC currently owns 127,547 shares valued at $4,682,000. The total value of its holdings increased 6.4%.
Raymond James & Associates expanded its position by buying 7,908 shares an increase of 2.9%. Raymond James & Associates now controls 277,550 shares with a value of $10,189,000. The total value of its holdings increased 18.2%.
On October 31, 2017 Cowen and Company issued a report on DVN and giving a rating of “Buy” and a price target of $40.00.
Equity analyst Morgan Stanley raised the price target on October 18 changing the forecast from $42.00 to $48.00 with a rating of “Overweight”. On October 10 analysts at BMO Capital Markets released research on DVN stating a rating of “Buy” and establishing a price target of $45.00.
Equity analyst Stifel Nicolaus released guidance on DVN with a rating of “Buy” and projecting a price target of $66.00.
The company is so far trading down since yesterday’s close of 38.23. The P/E ratio is currently 12.80 and the market value is 19.79B. In the last earnings report the EPS was $2.94 with 525.00M shares currently outstanding.
Short traders are more bearish on Devon Energy Corp of late as inferred by the motion in short interest. The firm had a rise in short interest of 8.35% as of October 31, 2017 from the last reporting period. Short shares grew 873,981 over that period. With short interest at 11,347,059 and short average daily volume at 4,281,322, days to cover is 3.0 and the percentage of shorted shares is 0.02% as of October 31.