Moloney Securities Asset Management LLC Lowers Stock Position in Devon Energy Co. (NYSE:DVN)

Moloney Securities Asset Management LLC decreased its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 64.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,570 shares of the energy company's stock after selling 17,452 shares during the quarter. Moloney Securities Asset Management LLC's holdings in Devon Energy were worth $313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of Devon Energy by 1.3% during the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company's stock worth $619,747,000 after buying an additional 206,884 shares during the period. EnCap Energy Capital Fund XI L.P. purchased a new position in shares of Devon Energy during the third quarter worth $461,857,000. Pacer Advisors Inc. boosted its position in shares of Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock worth $453,446,000 after buying an additional 1,677,652 shares during the period. EnCap Partners GP LLC purchased a new position in Devon Energy in the third quarter valued at $408,653,000. Finally, Victory Capital Management Inc. boosted its holdings in Devon Energy by 3.8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company's stock valued at $390,079,000 after purchasing an additional 361,968 shares during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DVN shares. Piper Sandler lifted their target price on Devon Energy from $53.00 to $54.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. StockNews.com upgraded Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Sanford C. Bernstein upgraded Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a research note on Wednesday, January 15th. Finally, TD Cowen cut their price target on Devon Energy from $54.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and a consensus target price of $49.45.

Devon Energy Stock Performance

DVN stock traded up $0.46 during trading on Friday, hitting $34.68. The company had a trading volume of 9,066,227 shares, compared to its average volume of 9,265,842. The firm has a market cap of $22.78 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The firm has a 50-day moving average price of $34.27 and a 200-day moving average price of $38.65. 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 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.