59,731 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Sovran Advisors LLC

Sovran Advisors LLC bought a new stake in shares of Devon Energy Co. (NYSE:DVN) during the 4th quarter, HoldingsChannel.com reports. The firm bought 59,731 shares of the energy company’s stock, valued at approximately $1,955,000.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy during the third quarter worth approximately $35,000. True Wealth Design LLC lifted its position in Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after buying an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of Devon Energy by 29.8% during the 3rd 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 period. Activest Wealth Management grew its holdings in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after acquiring an additional 480 shares in the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy in the fourth quarter worth $52,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Up 3.3 %

DVN opened at $34.24 on Tuesday. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The business has a 50 day moving average of $34.41 and a 200-day moving average of $38.87. The stock has a market capitalization 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 current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Analysts Set New Price Targets

A number of research firms recently issued reports on DVN. TD Cowen reduced their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. Truist Financial dropped their price objective on Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company reduced their target price on shares of 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, Susquehanna dropped their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.