Graham Capital Wealth Management LLC Purchases Shares of 63,925 Devon Energy Co. (NYSE:DVN)

Graham Capital Wealth Management LLC acquired a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 63,925 shares of the energy company's stock, valued at approximately $2,092,000. Devon Energy comprises approximately 1.9% of Graham Capital Wealth Management LLC's holdings, making the stock its 28th biggest holding.

Several other hedge funds have also recently made changes to their positions in DVN. Riversedge Advisors LLC boosted its holdings in shares of Devon Energy by 3.6% in the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company's stock valued at $287,000 after acquiring an additional 253 shares during the last quarter. Modus Advisors LLC boosted its holdings in Devon Energy by 2.4% in the third quarter. Modus Advisors LLC now owns 11,439 shares of the energy company's stock valued at $447,000 after purchasing an additional 272 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock worth $49,000 after purchasing an additional 290 shares during the period. Sfmg LLC raised its stake in shares of Devon Energy by 0.5% during the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company's stock valued at $2,538,000 after buying an additional 294 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Devon Energy by 4.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 8,001 shares of the energy company's stock valued at $313,000 after buying an additional 310 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on DVN. Scotiabank lowered their price objective on Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Benchmark raised shares of Devon Energy from a "hold" rating to a "buy" rating and set a $44.00 price objective for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. downgraded shares of Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 price objective for the company. in a research report on Thursday, December 5th. Mizuho dropped their target price on Devon Energy from $51.00 to $47.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Finally, Raymond James upped their price target on Devon Energy from $53.00 to $54.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $49.45.

Devon Energy Price Performance

Shares of Devon Energy stock traded down $0.29 on Wednesday, hitting $34.14. 7,591,442 shares of the company were exchanged, compared to its average volume of 9,578,988. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of 6.33, a price-to-earnings-growth ratio of 1.07 and a beta of 1.98. The company has a 50-day moving average price of $34.73 and a 200 day moving average price of $39.22. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Devon Energy's quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

Devon Energy Company 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.