WCM Investment Management LLC Has $1.44 Million Stock Position in Devon Energy Co. (NYSE:DVN)

WCM Investment Management LLC lifted its holdings in Devon Energy Co. (NYSE:DVN) by 130.9% in the 4th quarter, Holdings Channel reports. The firm owned 44,999 shares of the energy company’s stock after buying an additional 25,511 shares during the quarter. WCM Investment Management LLC’s holdings in Devon Energy were worth $1,439,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of DVN. Thompson Investment Management Inc. lifted its position in shares of Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after buying an additional 600 shares during the last quarter. Empirical Finance LLC raised its stake in shares of Devon Energy by 61.5% in the 4th quarter. Empirical Finance LLC now owns 33,267 shares of the energy company’s stock valued at $1,089,000 after acquiring an additional 12,665 shares in the last quarter. Cidel Asset Management Inc. lifted its holdings in Devon Energy by 24.4% in the 4th quarter. Cidel Asset Management Inc. now owns 7,184 shares of the energy company’s stock worth $235,000 after purchasing an additional 1,410 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Devon Energy by 51.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 120,741 shares of the energy company’s stock worth $3,952,000 after purchasing an additional 40,988 shares during the period. Finally, Tandem Financial LLC acquired a new position in Devon Energy during the fourth quarter valued at approximately $117,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 3.3 %

Shares of DVN opened at $34.24 on Tuesday. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The stock has a market cap of $22.49 billion, a price-to-earnings ratio of 6.35, a P/E/G ratio of 1.04 and a beta of 1.98. The company has a 50-day moving average price of $34.41 and a two-hundred day moving average price of $38.87. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DVN. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Friday, January 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Wednesday, January 15th. Benchmark raised Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, January 14th. Finally, Piper Sandler raised their target price on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. 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 data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $49.45.

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.