Stiles Financial Services Inc Raises Holdings in Devon Energy Co. (NYSE:DVN)

Stiles Financial Services Inc boosted its position in Devon Energy Co. (NYSE:DVN) by 8.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,013 shares of the energy company’s stock after acquiring an additional 4,054 shares during the period. Stiles Financial Services Inc’s holdings in Devon Energy were worth $1,801,000 at the end of the most recent reporting period.

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

Devon Energy Price Performance

Shares of NYSE DVN opened at $33.13 on Monday. The stock has a market capitalization of $21.76 billion, a price-to-earnings ratio of 6.15, 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. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The firm has a 50-day simple moving average of $34.47 and a 200-day simple moving average of $38.95.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DVN shares. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Tuesday, January 14th. TD Cowen dropped their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Mizuho lowered their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Citigroup cut their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, Truist Financial decreased their target price on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a report on Monday, January 13th. 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.