Great Lakes Retirement Inc. Increases Holdings in Devon Energy Co. (NYSE:DVN)

Great Lakes Retirement Inc. boosted its position in Devon Energy Co. (NYSE:DVN) by 76.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,716 shares of the energy company’s stock after purchasing an additional 114,042 shares during the period. Devon Energy comprises 1.1% of Great Lakes Retirement Inc.’s investment portfolio, making the stock its 25th biggest position. Great Lakes Retirement Inc.’s holdings in Devon Energy were worth $8,599,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Riversedge Advisors LLC increased its stake in shares of Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after purchasing an additional 253 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after acquiring an additional 290 shares during the last quarter. Sfmg LLC lifted its position in shares of Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after acquiring an additional 294 shares in the last quarter. Redwood Wealth Management Group LLC boosted its stake in shares of Devon Energy by 3.9% during the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after acquiring an additional 309 shares during the last quarter. Finally, Brighton Jones LLC increased its position in Devon Energy by 0.7% during the 3rd quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock worth $1,663,000 after purchasing an additional 310 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of DVN opened at $35.10 on Wednesday. The stock has a market capitalization of $23.05 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. The business’s fifty day moving average price is $34.36 and its 200 day moving average price is $38.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Mizuho cut their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Raymond James upped their target price on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Citigroup decreased their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note 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 research note on Friday, January 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Company 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.