Stephens Inc. AR Lowers Holdings in Devon Energy Co. (NYSE:DVN)

Stephens Inc. AR decreased its stake in shares of Devon Energy Co. (NYSE:DVN) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,475 shares of the energy company’s stock after selling 3,620 shares during the quarter. Stephens Inc. AR’s holdings in Devon Energy were worth $605,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in shares of Devon Energy during the third quarter valued at $35,000. True Wealth Design LLC lifted its holdings in shares of Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares in the last quarter. Activest Wealth Management lifted its holdings in shares of Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after purchasing an additional 480 shares in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Devon Energy during the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research analyst reports. Mizuho lowered their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Raymond James upped their price target on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Truist Financial reduced their price objective on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, January 13th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Finally, Piper Sandler upped their price objective on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.45.

Devon Energy Stock Performance

NYSE DVN opened at $34.68 on Friday. The firm has a market cap of $22.78 billion, a price-to-earnings ratio of 6.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. 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 business has a 50-day moving average price of $34.27 and a 200-day moving average price of $38.65. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09.

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.