Summit Trail Advisors LLC Buys 8,844 Shares of Devon Energy Co. (NYSE:DVN)

Summit Trail Advisors LLC grew its stake in shares of Devon Energy Co. (NYSE:DVN) by 80.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,904 shares of the energy company’s stock after acquiring an additional 8,844 shares during the period. Summit Trail Advisors LLC’s holdings in Devon Energy were worth $651,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Devon Energy during the 3rd quarter worth $35,000. True Wealth Design LLC lifted its stake in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after acquiring an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. grew its holdings 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 acquiring 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 valued at $50,000 after purchasing an additional 480 shares during the period. Finally, Endeavor Private Wealth Inc. purchased a new position in Devon Energy during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 2.4 %

NYSE:DVN opened at $35.10 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $34.36 and a 200-day simple moving average of $38.79. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a market capitalization of $23.05 billion, a P/E ratio of 6.51, a PEG ratio of 1.04 and a beta of 1.98.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Susquehanna dropped their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Citigroup dropped their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Wednesday, January 15th. Mizuho decreased their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Raymond James lifted their target price on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

About Devon Energy

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.