IMS Capital Management Reduces Holdings in Devon Energy Co. (NYSE:DVN)

IMS Capital Management cut its position in shares of Devon Energy Co. (NYSE:DVN) by 34.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,160 shares of the energy company’s stock after selling 6,500 shares during the quarter. IMS Capital Management’s holdings in Devon Energy were worth $398,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy during the third quarter valued at approximately $35,000. True Wealth Design LLC lifted its stake in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after acquiring an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in 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 acquiring an additional 290 shares during the period. Activest Wealth Management grew its position in Devon Energy by 60.4% in 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 during the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new stake in Devon Energy in the fourth quarter worth $52,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Trading Up 0.6 %

NYSE:DVN opened at $34.17 on Friday. The stock has a market capitalization of $22.44 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $34.27 and a 200 day moving average of $38.72.

Analyst Ratings Changes

A number of research analysts have recently commented on DVN shares. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Mizuho dropped their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Sanford C. Bernstein raised 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. Finally, Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.45.

About Devon Energy

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.