Great Lakes Retirement Inc. Has $8.60 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Great Lakes Retirement Inc. boosted its position in shares of Devon Energy Co. (NYSE:DVN) by 76.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 262,716 shares of the energy company’s stock after purchasing an additional 114,042 shares during the period. Devon Energy comprises 1.1% of Great Lakes Retirement Inc.’s holdings, making the stock its 25th largest holding. Great Lakes Retirement Inc.’s holdings in Devon Energy were worth $8,599,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DVN. Riversedge Advisors LLC raised its stake in shares of Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after purchasing an additional 253 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings 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 worth $49,000 after buying an additional 290 shares during the last quarter. Sfmg LLC raised its position in Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after acquiring an additional 294 shares in the last quarter. Redwood Wealth Management Group LLC lifted its stake in Devon Energy by 3.9% in the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after acquiring an additional 309 shares during the last quarter. Finally, Brighton Jones LLC grew its position in Devon Energy by 0.7% in the third quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock worth $1,663,000 after acquiring an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Benchmark raised Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, January 14th. Raymond James increased their price objective on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Finally, Piper Sandler increased their price target on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $49.45.

Devon Energy Stock Up 2.4 %

NYSE:DVN opened at $35.10 on Wednesday. The company has a market cap of $23.05 billion, a price-to-earnings ratio of 6.51, a P/E/G ratio of 1.04 and a beta of 1.98. 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 stock’s fifty day moving average price is $34.36 and its two-hundred day moving average price is $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.