Wilmington Savings Fund Society FSB Cuts Stock Position in Devon Energy Co. (NYSE:DVN)

Wilmington Savings Fund Society FSB cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 51.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,679 shares of the energy company’s stock after selling 20,595 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Devon Energy were worth $644,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DVN. Geode Capital Management LLC raised its stake in shares of Devon Energy by 1.3% in the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock valued at $619,747,000 after buying an additional 206,884 shares during the period. EnCap Energy Capital Fund XI L.P. purchased a new stake in Devon Energy in the 3rd quarter worth about $461,857,000. Pacer Advisors Inc. raised its stake in Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after acquiring an additional 1,677,652 shares during the period. EnCap Partners GP LLC bought a new position in Devon Energy during the third quarter worth about $408,653,000. Finally, Victory Capital Management Inc. increased its stake in shares of Devon Energy by 3.8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after purchasing an additional 361,968 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DVN has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Thursday, December 5th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Friday, January 3rd. Piper Sandler increased their price target on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Mizuho reduced their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.45.

Devon Energy Trading Up 3.3 %

Shares of NYSE DVN opened at $34.24 on Tuesday. The business has a fifty day moving average price of $34.41 and a 200 day moving average price of $38.87. Devon Energy Co. has a 1-year low of $30.39 and a 1-year 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 stock has a market capitalization of $22.49 billion, a P/E ratio of 6.35, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98.

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.