Texas Permanent School Fund Corp Reduces Holdings in Devon Energy Co. (NYSE:DVN)

Texas Permanent School Fund Corp cut its holdings in shares of Devon Energy Co. (NYSE:DVNFree Report) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,392 shares of the energy company’s stock after selling 2,175 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Devon Energy were worth $6,315,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Atria Investments Inc raised its holdings in shares of Devon Energy by 64.4% in the 3rd quarter. Atria Investments Inc now owns 54,639 shares of the energy company’s stock valued at $2,606,000 after purchasing an additional 21,400 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Devon Energy by 3.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 67,064 shares of the energy company’s stock valued at $3,242,000 after buying an additional 2,302 shares during the last quarter. Point72 Europe London LLP purchased a new position in shares of Devon Energy in the 2nd quarter valued at $15,068,000. National Bank of Canada FI grew its position in shares of Devon Energy by 548.8% in the 3rd quarter. National Bank of Canada FI now owns 840,334 shares of the energy company’s stock valued at $38,356,000 after buying an additional 710,811 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Devon Energy by 224.8% in the 3rd quarter. SG Americas Securities LLC now owns 151,305 shares of the energy company’s stock valued at $7,217,000 after buying an additional 104,716 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DVN shares. Wells Fargo & Company dropped their target price on shares of Devon Energy from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 22nd. Susquehanna lowered their price objective on shares of Devon Energy from $72.00 to $62.00 and set a “positive” rating on the stock in a research report on Wednesday, October 18th. Piper Sandler lowered their price objective on shares of Devon Energy from $61.00 to $59.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. UBS Group lowered their price objective on shares of Devon Energy from $52.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, December 14th. Finally, Truist Financial lowered their target price on shares of Devon Energy from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.65.

Check Out Our Latest Research Report on Devon Energy

Devon Energy Stock Performance

Shares of DVN opened at $41.59 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. The stock has a market cap of $26.65 billion, a P/E ratio of 7.11, a PEG ratio of 0.15 and a beta of 2.20. The company has a 50-day moving average of $43.68 and a two-hundred day moving average of $46.68. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $64.40.

Devon Energy Profile

(Free Report)

Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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