Slocum Gordon & Co LLP Has $1.89 Million Stake in Devon Energy Co. (NYSE:DVN)

Slocum Gordon & Co LLP reduced its stake in Devon Energy Co. (NYSE:DVN) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,776 shares of the energy company’s stock after selling 6,534 shares during the quarter. Devon Energy accounts for 1.6% of Slocum Gordon & Co LLP’s portfolio, making the stock its 21st largest position. Slocum Gordon & Co LLP’s holdings in Devon Energy were worth $1,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Devon Energy in the third quarter valued at about $35,000. Future Financial Wealth Managment LLC acquired a new stake in Devon Energy in the 3rd quarter valued at approximately $39,000. True Wealth Design LLC lifted its stake 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 valued at $44,000 after acquiring an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position 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 worth $49,000 after acquiring an additional 290 shares during the last quarter. Finally, Activest Wealth Management boosted its position in Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of DVN stock opened at $33.38 on Friday. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of 6.19, a PEG ratio of 1.07 and a beta of 1.98. The company has a 50-day simple moving average of $34.57 and a 200 day simple moving average of $39.14. 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 (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.65 earnings per share. On average, sell-side analysts predict that Devon Energy Co. will post 4.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on DVN. Royal Bank of Canada reissued a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Tuesday, January 14th. Truist Financial reduced their price objective 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. TD Cowen lowered their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a research report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

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.