Devon Energy Co. (NYSE:DVN) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in shares of Devon Energy Co. (NYSE:DVN) by 0.4% in the fourth quarter, HoldingsChannel reports. The fund owned 74,895 shares of the energy company’s stock after selling 315 shares during the quarter. State of Alaska Department of Revenue’s holdings in Devon Energy were worth $2,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Devon Energy during the 3rd quarter worth approximately $35,000. True Wealth Design LLC increased its position in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares in the last quarter. Activest Wealth Management increased its position in Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares in the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new stake in Devon Energy during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on DVN. Susquehanna dropped their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Piper Sandler upped their price target on Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Stock Performance

Shares of DVN opened at $34.24 on Tuesday. The business’s fifty day moving average price is $34.41 and its 200 day moving average price is $38.87. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The stock has a market capitalization of $22.49 billion, a PE ratio of 6.35, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

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.