Devon Energy Co. (NYSE:DVN) Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 51.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,679 shares of the energy company’s stock after selling 20,595 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Devon Energy were worth $644,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Riversedge Advisors LLC increased its holdings in shares of Devon Energy by 3.6% in the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after purchasing an additional 253 shares during the period. Hazlett Burt & Watson Inc. boosted its position in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares during the last quarter. Sfmg LLC increased its holdings in 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 period. Redwood Wealth Management Group LLC raised its position in Devon Energy by 3.9% during the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after buying an additional 309 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in Devon Energy by 0.7% during the 3rd quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock valued at $1,663,000 after acquiring an additional 310 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DVN has been the topic of several recent research reports. Raymond James upped 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. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. TD Cowen decreased their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Piper Sandler raised their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.45.

Devon Energy Stock Performance

Devon Energy stock opened at $34.24 on Tuesday. The firm has a 50 day simple moving average of $34.41 and a 200-day simple moving average of $38.87. The stock has a market cap of $22.49 billion, a price-to-earnings 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 Co. has a 1-year low of $30.39 and a 1-year high of $55.09.

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.