Bogart Wealth LLC Decreases Holdings in Devon Energy Co. (NYSE:DVN)

Bogart Wealth LLC lessened its stake in shares of Devon Energy Co. (NYSE:DVN) by 40.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,206 shares of the energy company’s stock after selling 1,500 shares during the period. Bogart Wealth LLC’s holdings in Devon Energy were worth $72,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in Devon Energy by 1.3% during the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after buying an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new stake in Devon Energy during the third quarter worth about $461,857,000. Pacer Advisors Inc. increased its holdings in Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after buying an additional 1,677,652 shares during the last quarter. EnCap Partners GP LLC purchased a new stake in Devon Energy during the third quarter worth about $408,653,000. Finally, Victory Capital Management Inc. increased its stake in shares of Devon Energy by 3.8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after purchasing an additional 361,968 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DVN. Truist Financial reduced their target price on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Tuesday, January 14th. Raymond James lifted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. Finally, 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. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $49.45.

Devon Energy Trading Up 1.3 %

Shares of DVN opened at $34.68 on Friday. The firm has a market cap of $22.78 billion, a price-to-earnings ratio of 6.43, a PEG 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. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The firm has a 50 day moving average price of $34.27 and a 200-day moving average price of $38.65.

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.