Cidel Asset Management Inc. Raises Stock Position in Devon Energy Co. (NYSE:DVN)

Cidel Asset Management Inc. raised its holdings in Devon Energy Co. (NYSE:DVN) by 24.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,184 shares of the energy company’s stock after purchasing an additional 1,410 shares during the quarter. Cidel Asset Management Inc.’s holdings in Devon Energy were worth $235,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Czech National Bank raised its position in Devon Energy by 5.9% during the third quarter. Czech National Bank now owns 127,563 shares of the energy company’s stock valued at $4,990,000 after acquiring an additional 7,129 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Devon Energy by 19.2% during the 3rd quarter. Brookstone Capital Management now owns 10,458 shares of the energy company’s stock valued at $409,000 after purchasing an additional 1,687 shares in the last quarter. CWM LLC lifted its stake in shares of Devon Energy by 73.4% in the 3rd quarter. CWM LLC now owns 38,969 shares of the energy company’s stock valued at $1,524,000 after purchasing an additional 16,490 shares during the period. Perpetual Ltd acquired a new stake in Devon Energy during the third quarter valued at $240,000. Finally, Foundation Resource Management Inc. increased its holdings in Devon Energy by 3.8% in the third quarter. Foundation Resource Management Inc. now owns 85,782 shares of the energy company’s stock valued at $3,356,000 after buying an additional 3,153 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 0.9 %

Shares of DVN opened at $33.13 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 firm has a market cap of $21.76 billion, a P/E ratio of 6.15, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. The company’s 50-day moving average price is $34.47 and its 200 day moving average price is $39.00. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09.

Analyst Ratings Changes

DVN has been the subject of several recent analyst reports. Susquehanna cut their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Wells Fargo & Company decreased their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. TD Cowen decreased their price objective 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. Citigroup cut their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Truist Financial lowered their price objective on Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target 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.