Peterson Wealth Services decreased its position in Devon Energy Co. (NYSE:DVN - Free Report) by 97.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,113 shares of the energy company's stock after selling 39,202 shares during the period. Peterson Wealth Services' holdings in Devon Energy were worth $36,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Essex Financial Services Inc. grew its position in shares of Devon Energy by 129.5% in the fourth quarter. Essex Financial Services Inc. now owns 21,291 shares of the energy company's stock valued at $697,000 after purchasing an additional 12,015 shares during the period. Summit Trail Advisors LLC grew its position in shares of Devon Energy by 80.0% in the fourth quarter. Summit Trail Advisors LLC now owns 19,904 shares of the energy company's stock valued at $651,000 after purchasing an additional 8,844 shares during the period. Four Tree Island Advisory LLC acquired a new stake in shares of Devon Energy in the fourth quarter valued at about $419,000. Stiles Financial Services Inc grew its position in shares of Devon Energy by 8.0% in the fourth quarter. Stiles Financial Services Inc now owns 55,013 shares of the energy company's stock valued at $1,801,000 after purchasing an additional 4,054 shares during the period. Finally, WCM Investment Management LLC grew its position in shares of Devon Energy by 130.9% in the fourth quarter. WCM Investment Management LLC now owns 44,999 shares of the energy company's stock valued at $1,439,000 after purchasing an additional 25,511 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.
Wall Street Analyst Weigh In
DVN has been the topic of several research analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $50.00 target price on shares of Devon Energy in a research report on Friday, January 10th. Raymond James lifted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Citigroup dropped their target price on shares of Devon Energy from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. JPMorgan Chase & Co. lowered shares of Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 target price on the stock. in a research report on Thursday, December 5th. Finally, Piper Sandler boosted their price target on shares of Devon Energy from $53.00 to $54.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of "Moderate Buy" and an average target price of $49.45.
View Our Latest Report on DVN
Devon Energy Trading Up 1.3 %
Shares of Devon Energy stock traded up $0.46 on Friday, reaching $34.68. The company had a trading volume of 9,066,227 shares, compared to its average volume of 9,265,842. The firm's 50 day moving average price is $34.27 and its two-hundred day moving average price is $38.65. The firm has a market cap of $22.78 billion, a PE ratio of 6.43, a PEG ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.
Devon Energy Company Profile
(
Free Report)
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.
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