Hager Investment Management Services LLC Purchases Shares of 3,855 Devon Energy Co. (NYSE:DVN)

Hager Investment Management Services LLC purchased a new stake in Devon Energy Co. (NYSE:DVN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,855 shares of the energy company’s stock, valued at approximately $126,000.

Other large investors have also recently added to or reduced their stakes in the company. Algert Global LLC grew its stake in shares of Devon Energy by 17.8% in the 2nd quarter. Algert Global LLC now owns 9,719 shares of the energy company’s stock valued at $461,000 after purchasing an additional 1,466 shares during the period. Czech National Bank grew its stake 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 purchasing an additional 7,129 shares during the period. Diversified Trust Co bought a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $616,000. Sugarloaf Wealth Management LLC grew its stake in shares of Devon Energy by 56.1% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 6,069 shares of the energy company’s stock valued at $237,000 after purchasing an additional 2,181 shares during the period. Finally, Brookstone Capital Management grew its stake in shares of Devon Energy by 19.2% in the 3rd quarter. Brookstone Capital Management now owns 10,458 shares of the energy company’s stock valued at $409,000 after purchasing an additional 1,687 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Susquehanna decreased their price target on 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 decreased their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Finally, Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.45.

Devon Energy Stock Performance

DVN stock opened at $34.46 on Wednesday. The business’s fifty day moving average is $34.73 and its 200-day moving average is $39.22. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a market cap of $22.63 billion, a P/E ratio of 6.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.98. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09.

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