Caitlin John LLC Cuts Stock Position in Devon Energy Co. (NYSE:DVN)

Caitlin John LLC trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN) by 53.4% in the fourth quarter, Holdings Channel reports. The firm owned 2,509 shares of the energy company’s stock after selling 2,878 shares during the period. Caitlin John LLC’s holdings in Devon Energy were worth $82,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DVN. Geode Capital Management LLC lifted its stake in shares of Devon Energy by 1.3% during the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after purchasing an additional 206,884 shares in the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new stake in shares of Devon Energy during the 3rd quarter valued at about $461,857,000. Pacer Advisors Inc. lifted its position in Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. EnCap Partners GP LLC purchased a new position in Devon Energy in the 3rd quarter worth approximately $408,653,000. Finally, Victory Capital Management Inc. grew its position in 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 valued at $390,079,000 after acquiring an additional 361,968 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $34.14 on Thursday. 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 firm’s 50-day moving average price is $34.66 and its two-hundred day moving average price is $39.18. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The stock has a market capitalization 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) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. The business 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 business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.65 EPS. As a group, sell-side analysts forecast that Devon Energy Co. will post 4.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DVN shares. TD Cowen reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Thursday, December 5th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Piper Sandler boosted their price target on Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Wednesday, January 15th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

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.