Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in Devon Energy Co. (NYSE:DVN)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 51.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,741 shares of the energy company's stock after buying an additional 40,988 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Devon Energy were worth $3,952,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DVN. Capital Performance Advisors LLP purchased a new position in Devon Energy in the third quarter worth $35,000. True Wealth Design LLC grew its stake in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock worth $44,000 after buying an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. increased 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 valued at $49,000 after buying an additional 290 shares in the last quarter. Activest Wealth Management raised its stake in Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock valued at $50,000 after buying an additional 480 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new stake in Devon Energy in the fourth quarter worth about $52,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

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Devon Energy Price Performance

Shares of NYSE:DVN traded up $0.20 during midday trading on Thursday, reaching $34.17. 7,220,212 shares of the company's stock traded hands, compared to its average volume of 9,272,458. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The company has a market cap of $22.44 billion, a P/E ratio of 6.34, a PEG ratio of 1.04 and a beta of 1.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a fifty day simple moving average of $34.27 and a two-hundred day simple moving average of $38.72.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Devon Energy from $43.00 to $42.00 and set a "hold" rating on the stock in a report on Monday, January 13th. Susquehanna dropped their target price on shares of Devon Energy from $63.00 to $62.00 and set a "positive" rating on the stock in a research report on Friday, October 18th. TD Cowen dropped their target price on shares of Devon Energy from $54.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lowered shares of Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 price objective on the stock. in a report on Thursday, December 5th. Finally, StockNews.com raised shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $49.45.

Devon Energy 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.