Klein Pavlis & Peasley Financial Inc. purchased a new stake in Devon Energy Co. (NYSE:DVN – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 23,884 shares of the energy company’s stock, valued at approximately $782,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in DVN. Riversedge Advisors LLC boosted its position in Devon Energy by 3.6% in the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after buying an additional 253 shares in the last quarter. Modus Advisors LLC lifted its stake in shares of Devon Energy by 2.4% in the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock valued at $447,000 after acquiring an additional 272 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of 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 acquiring an additional 290 shares in the last quarter. Sfmg LLC grew its position in Devon Energy by 0.5% during the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after acquiring an additional 294 shares during the last quarter. Finally, Redwood Wealth Management Group LLC increased its holdings in Devon Energy by 3.9% in the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after purchasing an additional 309 shares in the last quarter. 69.72% of the stock is owned by institutional investors.
Analyst Ratings Changes
DVN has been the topic of a number of recent research reports. Raymond James lifted their price target on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. downgraded 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. Susquehanna decreased their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Wells Fargo & Company cut their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.45.
Devon Energy Stock Performance
Shares of DVN stock opened at $34.14 on Thursday. 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 firm has a 50-day moving average of $34.66 and a 200-day moving average of $39.18. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a market cap of $22.42 billion, a P/E ratio of 6.33, a P/E/G ratio of 1.07 and a beta of 1.98.
Devon Energy (NYSE:DVN – Get Free Report) last posted its 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 for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. Equities research analysts forecast that Devon Energy Co. will post 4.68 EPS for the current fiscal year.
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.
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