Lodestone Wealth Management LLC Has $574,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Lodestone Wealth Management LLC trimmed its stake in shares of Devon Energy Co. (NYSE:DVN) by 56.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,546 shares of the energy company’s stock after selling 22,992 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Devon Energy were worth $574,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DVN. BXM Wealth LLC bought a new stake in Devon Energy during the 4th quarter worth approximately $220,000. ABC Arbitrage SA bought a new stake in Devon Energy during the 4th quarter worth approximately $2,472,000. New York State Teachers Retirement System grew its holdings in Devon Energy by 4.5% during the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company’s stock worth $24,101,000 after acquiring an additional 31,520 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in Devon Energy by 2.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 344,914 shares of the energy company’s stock worth $11,289,000 after acquiring an additional 8,971 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in Devon Energy during the 4th quarter worth approximately $54,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

DVN opened at $34.68 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average price is $34.27 and its two-hundred day moving average price is $38.65. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company 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.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DVN. TD Cowen reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, January 14th. Piper Sandler boosted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research note on Friday, January 10th. Finally, Mizuho reduced their price objective 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. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus 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.