Devon Energy Co. (NYSE:DVN) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,030 shares of the energy company’s stock after selling 1,131 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Devon Energy were worth $1,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DVN. Cidel Asset Management Inc. boosted its holdings in Devon Energy by 24.4% in the 4th quarter. Cidel Asset Management Inc. now owns 7,184 shares of the energy company’s stock valued at $235,000 after purchasing an additional 1,410 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Devon Energy by 51.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 120,741 shares of the energy company’s stock valued at $3,952,000 after purchasing an additional 40,988 shares during the last quarter. Tandem Financial LLC acquired a new position in Devon Energy in the 4th quarter valued at about $117,000. Strategic Financial Concepts LLC acquired a new position in Devon Energy in the 4th quarter valued at about $671,000. Finally, Leo Wealth LLC boosted its holdings in Devon Energy by 36.0% in the 4th quarter. Leo Wealth LLC now owns 7,003 shares of the energy company’s stock valued at $229,000 after purchasing an additional 1,852 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DVN has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Thursday, December 5th. TD Cowen reduced their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Friday, January 3rd. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Citigroup reduced their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.45.

Devon Energy Price Performance

Devon Energy stock opened at $35.10 on Wednesday. The stock has a market cap of $23.05 billion, a P/E ratio of 6.51, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. The company has a fifty day simple moving average of $34.36 and a 200-day simple moving average of $38.79. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

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.