Truist Financial Corp lessened its holdings in Devon Energy Co. (NYSE:DVN) by 23.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 350,229 shares of the energy company’s stock after selling 107,894 shares during the quarter. Truist Financial Corp’s holdings in Devon Energy were worth $5,537,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in DVN. Xponance Inc. lifted its holdings in shares of Devon Energy by 3.2% in the 4th quarter. Xponance Inc. now owns 16,467 shares of the energy company’s stock worth $260,000 after buying an additional 507 shares during the period. Salem Capital Management Inc. lifted its holdings in shares of Devon Energy by 0.4% in the 4th quarter. Salem Capital Management Inc. now owns 129,061 shares of the energy company’s stock worth $2,040,000 after buying an additional 550 shares during the period. Heritage Trust Co lifted its stake in shares of Devon Energy by 1.0% during the 4th quarter. Heritage Trust Co now owns 59,426 shares of the energy company’s stock worth $939,000 after purchasing an additional 612 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in shares of Devon Energy by 4.4% during the 4th quarter. Personal CFO Solutions LLC now owns 15,157 shares of the energy company’s stock worth $240,000 after purchasing an additional 634 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Devon Energy by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 66,121 shares of the energy company’s stock worth $1,044,000 after purchasing an additional 810 shares during the last quarter. 80.86% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on DVN. Zacks Investment Research upgraded Devon Energy from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research note on Tuesday, February 2nd. Johnson Rice upgraded Devon Energy from an “accumulate” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, March 15th. Citigroup increased their price target on Devon Energy from $24.00 to $29.00 in a research note on Tuesday, March 23rd. Northland Securities increased their price target on Devon Energy from $20.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, April 1st. Finally, JPMorgan Chase & Co. increased their price target on Devon Energy from $22.00 to $30.00 in a research note on Thursday, March 18th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Devon Energy currently has an average rating of “Buy” and an average price target of $22.82.
Devon Energy stock opened at $22.52 on Thursday. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of -2.63, a price-to-earnings-growth ratio of 28.23 and a beta of 3.46. Devon Energy Co. has a 52 week low of $7.73 and a 52 week high of $26.13. The business’s 50-day moving average price is $22.77 and its 200 day moving average price is $16.20. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.36.
Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 16th. The energy company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.24 billion. Devon Energy had a positive return on equity of 2.38% and a negative net margin of 62.68%. During the same period last year, the business earned $0.36 earnings per share. Equities analysts expect that Devon Energy Co. will post -0.07 EPS for the current year.
In related news, Director Felix Investments Holdings Ii, sold 29,579,389 shares of the firm’s stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of $21.05, for a total transaction of $622,646,138.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.59% of the stock is owned by company insiders.
Devon Energy Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 3,942 gross wells. Devon Energy Corporation was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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