Devon Energy Co. (NYSE:DVN) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP trimmed its holdings in Devon Energy Co. (NYSE:DVN) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,882 shares of the energy company’s stock after selling 689 shares during the period. L. Roy Papp & Associates LLP’s holdings in Devon Energy were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy in the third quarter valued at approximately $35,000. 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 buying an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings 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 valued at $49,000 after buying an additional 290 shares during the last quarter. Activest Wealth Management increased its position in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after buying an additional 480 shares in the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy in the fourth quarter worth $52,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Up 2.4 %

DVN opened at $35.10 on Wednesday. The company has a market cap of $23.05 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. 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 Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The firm has a 50 day moving average price of $34.36 and a 200 day moving average price of $38.79.

Analysts Set New Price Targets

A number of research firms recently commented on DVN. Citigroup decreased their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Wednesday, January 15th. Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, January 14th. Finally, Raymond James boosted their price target on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.