3,855 Shares in Devon Energy Co. (NYSE:DVN) Bought by Hager Investment Management Services LLC

Hager Investment Management Services LLC acquired a new position in shares of Devon Energy Co. (NYSE:DVN) during the 4th quarter, Holdings Channel.com reports. The firm acquired 3,855 shares of the energy company’s stock, valued at approximately $126,000.

Several other hedge funds have also added to or reduced their stakes in DVN. EnCap Energy Capital Fund XI L.P. acquired a new stake in Devon Energy during the 3rd quarter worth $461,857,000. EnCap Partners GP LLC acquired a new stake in shares of Devon Energy in the 3rd quarter valued at about $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new stake in shares of Devon Energy in the 3rd quarter valued at about $230,928,000. International Assets Investment Management LLC raised its stake in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after purchasing an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Raymond James lifted their price target on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Wednesday, January 15th. Truist Financial decreased their price objective on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a report on Monday, January 13th. Finally, Citigroup decreased their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Stock Up 2.1 %

NYSE DVN opened at $34.46 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. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a 50 day moving average of $34.73 and a 200-day moving average of $39.22. The company has a market cap of $22.63 billion, a price-to-earnings ratio of 6.39, a PEG ratio of 1.07 and a beta of 1.98.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

Devon Energy 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.