Augustine Asset Management Inc. Purchases 475 Shares of Devon Energy Co. (NYSE:DVN)

Augustine Asset Management Inc. boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 7.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,157 shares of the energy company’s stock after buying an additional 475 shares during the period. Augustine Asset Management Inc.’s holdings in Devon Energy were worth $234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. EnCap Energy Capital Fund XI L.P. bought a new stake in shares of Devon Energy during the 3rd quarter valued at about $461,857,000. EnCap Partners GP LLC purchased a new stake in Devon Energy in the third quarter valued at approximately $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new position in Devon Energy in the 3rd quarter worth approximately $230,928,000. International Assets Investment Management LLC increased its holdings 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 worth $89,231,000 after buying an additional 2,226,983 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after buying an additional 1,677,652 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on DVN. Piper Sandler increased their target price on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Friday, January 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. Wells Fargo & Company cut their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Citigroup decreased their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.45.

Devon Energy Price Performance

DVN stock opened at $35.10 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a market capitalization of $23.05 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 1.04 and a beta of 1.98. The firm has a 50 day moving average price of $34.36 and a 200-day moving average price of $38.79. Devon Energy Co. has a 52-week low of $30.39 and a 52-week 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.