Lynx Investment Advisory Invests $233,000 in Devon Energy Co. (NYSE:DVN)

Lynx Investment Advisory acquired a new position in Devon Energy Co. (NYSE:DVN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,916 shares of the energy company’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Manchester Capital Management LLC purchased a new stake in Devon Energy during the 4th quarter worth approximately $28,000. Tradewinds Capital Management LLC purchased a new stake in Devon Energy during the 1st quarter worth approximately $30,000. Jones Financial Companies Lllp grew its position in Devon Energy by 104.8% during the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after purchasing an additional 374 shares during the last quarter. PFS Partners LLC purchased a new stake in Devon Energy during the 4th quarter worth approximately $36,000. Finally, LRI Investments LLC purchased a new stake in Devon Energy during the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DVN shares. Wells Fargo & Company dropped their target price on shares of Devon Energy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. UBS Group lifted their price objective on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. StockNews.com cut shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. Stifel Nicolaus lifted their price objective on shares of Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Barclays initiated coverage on shares of Devon Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.13.

Devon Energy Price Performance

NYSE DVN traded up $0.50 on Tuesday, hitting $41.98. The company had a trading volume of 8,306,700 shares, compared to its average volume of 7,256,028. The company has a market capitalization of $26.53 billion, a PE ratio of 8.01, a PEG ratio of 0.75 and a beta of 2.07. The company’s fifty day moving average price is $46.55 and its 200-day moving average price is $47.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97. Devon Energy Co. has a 12-month low of $40.47 and a 12-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.