1,645 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Asset Planning Inc

Asset Planning Inc bought a new position in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,645 shares of the energy company’s stock, valued at approximately $54,000.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in 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 acquiring an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new position in Devon Energy during the third quarter worth approximately $461,857,000. Pacer Advisors Inc. raised its stake in Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the period. EnCap Partners GP LLC purchased a new position in Devon Energy during the third quarter worth approximately $408,653,000. Finally, Victory Capital Management Inc. raised its stake in Devon Energy by 3.8% during 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 during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Up 1.3 %

NYSE DVN opened at $34.68 on Friday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a 50-day simple moving average of $34.27 and a 200-day simple moving average of $38.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a market capitalization of $22.78 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DVN shares. Piper Sandler raised their target price on shares of Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Mizuho cut their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company lowered their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Friday, January 3rd. Finally, Raymond James raised their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.