Devon Energy Co. (NYSE:DVN) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP cut its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 73.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 633,595 shares of the energy company's stock after selling 1,753,305 shares during the period. Yacktman Asset Management LP owned approximately 0.10% of Devon Energy worth $20,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in DVN. EnCap Energy Capital Fund XI L.P. acquired a new position in shares of Devon Energy during the 3rd quarter valued at about $461,857,000. EnCap Partners GP LLC acquired a new position in Devon Energy in the 3rd quarter valued at about $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $230,928,000. International Assets Investment Management LLC increased its holdings in shares of Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company's stock worth $89,231,000 after buying an additional 2,226,983 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock valued at $453,446,000 after purchasing an additional 1,677,652 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DVN. 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 research report on Tuesday, January 14th. Truist Financial cut their price objective on Devon Energy from $43.00 to $42.00 and set a "hold" rating on the stock in a report on Monday, January 13th. TD Cowen lowered their target price on Devon Energy from $54.00 to $46.00 and set a "hold" rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Finally, Wolfe Research raised shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a research note on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Devon Energy presently has an average rating of "Moderate Buy" and a consensus target price of $49.45.

Devon Energy Trading Up 2.4 %

Shares of NYSE DVN traded up $0.84 during midday trading on Tuesday, hitting $35.10. The stock had a trading volume of 9,473,220 shares, compared to its average volume of 9,367,016. The company has a market capitalization of $23.05 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 1.04 and a beta of 1.98. 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 Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a fifty day moving average price of $34.41 and a 200 day moving average price of $38.87.

About Devon Energy

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.