Yousif Capital Management LLC Has $2.86 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Yousif Capital Management LLC increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,385 shares of the energy company’s stock after purchasing an additional 4,129 shares during the period. Yousif Capital Management LLC’s holdings in Devon Energy were worth $2,860,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new stake in shares of Devon Energy during the 3rd quarter worth approximately $8,002,000. Bridgewater Associates LP acquired a new stake in Devon Energy in the third quarter worth $9,426,000. Petrus Trust Company LTA increased its stake in Devon Energy by 394.7% in the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after purchasing an additional 17,415 shares in the last quarter. CIBC Asset Management Inc increased its stake in Devon Energy by 6.3% in the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after purchasing an additional 6,358 shares in the last quarter. Finally, Smead Capital Management Inc. raised its holdings in shares of Devon Energy by 3.5% during the third quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock valued at $230,007,000 after purchasing an additional 198,193 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Performance

NYSE DVN opened at $33.13 on Monday. The company has a market capitalization of $21.76 billion, a PE ratio of 6.15, 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 52-week low of $30.39 and a 52-week high of $55.09. The company has a 50-day simple moving average of $34.47 and a 200 day simple moving average of $38.95.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research report on Friday, January 10th. Truist Financial decreased their price objective on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a report on Monday, January 13th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Friday, January 3rd. Piper Sandler boosted their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Citigroup dropped their price objective 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 research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Devon Energy presently has a consensus 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.