Hodges Capital Management Inc. Trims Stock Holdings in Devon Energy Co. (NYSE:DVN)

Hodges Capital Management Inc. trimmed its stake in Devon Energy Co. (NYSE:DVN) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,755 shares of the energy company’s stock after selling 4,543 shares during the period. Hodges Capital Management Inc.’s holdings in Devon Energy were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the company. Algert Global LLC increased its holdings in Devon Energy by 17.8% during the second quarter. Algert Global LLC now owns 9,719 shares of the energy company’s stock valued at $461,000 after buying an additional 1,466 shares during the period. Czech National Bank boosted its holdings in shares of Devon Energy by 5.9% in the 3rd quarter. Czech National Bank now owns 127,563 shares of the energy company’s stock valued at $4,990,000 after acquiring an additional 7,129 shares during the last quarter. Diversified Trust Co acquired a new stake in Devon Energy during the 3rd quarter worth about $616,000. Kwmg LLC boosted its position in Devon Energy by 3.6% in the 3rd quarter. Kwmg LLC now owns 110,439 shares of the energy company’s stock worth $4,320,000 after purchasing an additional 3,845 shares in the last quarter. Finally, Richard P Slaughter Associates Inc grew its position in shares of Devon Energy by 23.4% during the 3rd quarter. Richard P Slaughter Associates Inc now owns 37,378 shares of the energy company’s stock valued at $1,462,000 after acquiring an additional 7,087 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

DVN has been the subject of several research analyst reports. Citigroup reduced their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. 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 report on Friday, January 3rd. Scotiabank reduced their target price 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. 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 report on Thursday, January 23rd. Finally, Sanford C. Bernstein upgraded shares of 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. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.45.

Devon Energy Trading Down 1.1 %

NYSE DVN opened at $33.74 on Tuesday. The company has a market cap of $22.16 billion, a P/E ratio of 6.26, a P/E/G ratio of 1.07 and a beta of 2.00. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The company has a 50-day moving average of $34.80 and a 200-day moving average of $39.31.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 earnings per share. As a group, equities analysts predict that Devon Energy Co. will post 4.68 earnings per share for the current year.

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.