Ares Mgmt LP (ARES) Share Value Declined While Ejf Capital Raised Stake; As Devon Energy (DVN) Market Valuation Declined, New England Research & Management Trimmed Its Stake by $358,200

February 7, 2018 - By Linda Rogers

New England Research & Management Inc decreased its stake in Devon Energy (DVN) by 46.32% based on its latest 2017Q3 regulatory filing with the SEC. New England Research & Management Inc sold 9,950 shares as the company’s stock declined 13.09% while stock markets rallied. The institutional investor held 11,531 shares of the oil & gas production company at the end of 2017Q3, valued at $423,000, down from 21,481 at the end of the previous reported quarter. New England Research & Management Inc who had been investing in Devon Energy for a number of months, seems to be less bullish one the $19.41B market cap company. The stock decreased 3.75% or $1.44 during the last trading session, reaching $36.94. About 5.49 million shares traded or 13.50% up from the average. Devon Energy Corporation (NYSE:DVN) has risen 13.24% since February 7, 2017 and is uptrending. It has underperformed by 3.46% the S&P500.

Emanuel J. Friedman increased its stake in Ares Mgmt LP (ARES) by 17.21% based on its latest 2017Q3 regulatory filing with the SEC. Ejf Capital Llc bought 159,544 shares as the company’s stock declined 12.83% while stock markets rallied. The hedge fund run by Emanuel J. Friedman held 1.09M shares of the investment managers company at the end of 2017Q3, valued at $20.27M, up from 927,260 at the end of the previous reported quarter. Ejf Capital Llc who had been investing in Ares Mgmt LP for a number of months, seems to be bullish on the $4.78B market cap company. The stock increased 2.51% or $0.55 during the last trading session, reaching $22.5. About 54,634 shares traded. Ares Management, L.P. (NYSE:ARES) has risen 31.82% since February 7, 2017 and is uptrending. It has outperformed by 15.12% the S&P500.

Investors sentiment decreased to 1 in 2017 Q3. Its down 0.08, from 1.08 in 2017Q2. It is negative, as 55 investors sold DVN shares while 230 reduced holdings. 75 funds opened positions while 209 raised stakes. 396.57 million shares or 0.97% less from 400.45 million shares in 2017Q2 were reported. 224,903 were reported by Toronto Dominion Bank & Trust. Mraz Amerine Assoc Inc accumulated 5,606 shares. Pictet Asset Limited holds 0.03% in Devon Energy Corporation (NYSE:DVN) or 273,464 shares. 23,200 are held by Gabelli And Inv Advisers. 511,779 are held by Bnp Paribas Arbitrage. Gamco Invsts Et Al holds 144,100 shares. Sterling Cap Limited Liability Company reported 33,875 shares. The New York-based Ny State Teachers Retirement System has invested 0.08% in Devon Energy Corporation (NYSE:DVN). Point72 Asset Mgmt Lp has invested 0.16% in Devon Energy Corporation (NYSE:DVN). Piedmont Investment Advsr Ltd Liability Co stated it has 0.01% of its portfolio in Devon Energy Corporation (NYSE:DVN). Blue Ridge Ltd Liability Corporation reported 0.88% stake. Van Den Berg Management I Incorporated holds 1.57% in Devon Energy Corporation (NYSE:DVN) or 378,804 shares. Amalgamated Comml Bank stated it has 56,518 shares. Ci Inc has 0.51% invested in Devon Energy Corporation (NYSE:DVN) for 1.51M shares. Savings Bank Of Montreal Can holds 185,647 shares.

New England Research & Management Inc, which manages about $167.47M and $136.48M US Long portfolio, upped its stake in Merck (NYSE:MRK) by 12,050 shares to 26,015 shares, valued at $1.67 million in 2017Q3, according to the filing. It also increased its holding in Walt Disney (NYSE:DIS) by 3,075 shares in the quarter, for a total of 18,654 shares, and has risen its stake in Healthequity (NASDAQ:HQY).

Analysts await Devon Energy Corporation (NYSE:DVN) to report earnings on February, 13. They expect $0.58 EPS, up 132.00% or $0.33 from last year’s $0.25 per share. DVN’s profit will be $304.79M for 15.92 P/E if the $0.58 EPS becomes a reality. After $0.46 actual EPS reported by Devon Energy Corporation for the previous quarter, Wall Street now forecasts 26.09% EPS growth.

Among 38 analysts covering Devon Energy Corporation (NYSE:DVN), 24 have Buy rating, 0 Sell and 14 Hold. Therefore 63% are positive. Devon Energy Corporation had 117 analyst reports since July 21, 2015 according to SRatingsIntel. On Tuesday, January 17 the stock rating was downgraded by Jefferies to “Hold”. Cowen & Co maintained it with “Buy” rating and $37.0 target in Sunday, August 20 report. The stock of Devon Energy Corporation (NYSE:DVN) has “Buy” rating given on Friday, November 10 by Cowen & Co. The firm earned “Outperform” rating on Thursday, February 18 by RBC Capital Markets. The firm earned “Buy” rating on Tuesday, July 4 by RBC Capital Markets. The firm has “Buy” rating by Societe Generale given on Thursday, February 16. The rating was maintained by Morgan Stanley with “Overweight” on Wednesday, January 24. As per Wednesday, June 21, the company rating was downgraded by Seaport Global. The rating was downgraded by KLR Group to “Accumulate” on Monday, July 18. As per Tuesday, March 8, the company rating was maintained by iBERIA Capital Partners.

Investors sentiment decreased to 1.27 in Q3 2017. Its down 0.29, from 1.56 in 2017Q2. It is negative, as 5 investors sold ARES shares while 10 reduced holdings. 5 funds opened positions while 14 raised stakes. 11.98 million shares or 4.64% more from 11.45 million shares in 2017Q2 were reported. Pnc Fincl Serv Inc has 0% invested in Ares Management, L.P. (NYSE:ARES) for 155,424 shares. Manufacturers Life Insurance Com The accumulated 2,484 shares. Gsa Cap Prtn Ltd Liability Partnership has invested 0.06% in Ares Management, L.P. (NYSE:ARES). Stifel Financial stated it has 14,850 shares or 0% of all its holdings. Gp One Trading LP invested in 600 shares or 0% of the stock. National Bank & Trust Of America Corporation De owns 42,009 shares. Deutsche Bancorporation Ag holds 0% of its portfolio in Ares Management, L.P. (NYSE:ARES) for 126,000 shares. Renaissance Techs Ltd Liability Co has 0% invested in Ares Management, L.P. (NYSE:ARES) for 126,000 shares. United Kingdom-based Barclays Public Ltd Liability Corporation has invested 0% in Ares Management, L.P. (NYSE:ARES). Royal National Bank & Trust Of Canada holds 11,297 shares. Greenwich Inv Mgmt holds 1.52% or 63,466 shares. Century Cos, a Missouri-based fund reported 1.21 million shares. Wells Fargo & Mn reported 0% of its portfolio in Ares Management, L.P. (NYSE:ARES). Morgan Stanley, New York-based fund reported 732,948 shares. Moreover, Raymond James & has 0% invested in Ares Management, L.P. (NYSE:ARES) for 12,802 shares.

Among 10 analysts covering Ares Management (NYSE:ARES), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. Ares Management had 31 analyst reports since August 11, 2015 according to SRatingsIntel. The stock of Ares Management, L.P. (NYSE:ARES) has “Buy” rating given on Wednesday, January 10 by Keefe Bruyette & Woods. The stock has “Outperform” rating by Wells Fargo on Wednesday, December 21. RBC Capital Markets initiated the shares of ARES in report on Friday, June 30 with “Outperform” rating. Wood upgraded the stock to “Outperform” rating in Friday, March 24 report. The firm has “Outperform” rating by Wood given on Friday, April 7. Keefe Bruyette & Woods maintained the shares of ARES in report on Wednesday, June 14 with “Buy” rating. The firm has “Outperform” rating given on Friday, October 14 by Wood. Keefe Bruyette & Woods upgraded Ares Management, L.P. (NYSE:ARES) on Friday, March 24 to “Outperform” rating. The firm has “Buy” rating by Keefe Bruyette & Woods given on Friday, August 4. Keefe Bruyette & Woods downgraded the shares of ARES in report on Monday, February 27 to “Mkt Perform” rating.

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