Stratos Wealth Partners LTD. Lowers Stock Position in Devon Energy Co. (NYSE:DVN)

Stratos Wealth Partners LTD. trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN) by 18.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,511 shares of the energy company’s stock after selling 8,505 shares during the period. Stratos Wealth Partners LTD.’s holdings in Devon Energy were worth $1,195,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Yousif Capital Management LLC raised its position in Devon Energy by 5.0% in the fourth quarter. Yousif Capital Management LLC now owns 87,385 shares of the energy company’s stock worth $2,860,000 after acquiring an additional 4,129 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of Devon Energy by 3.2% during the 4th quarter. Retirement Systems of Alabama now owns 142,224 shares of the energy company’s stock worth $4,655,000 after purchasing an additional 4,355 shares during the period. Guidance Capital Inc. increased its holdings in shares of Devon Energy by 3.5% in the 4th quarter. Guidance Capital Inc. now owns 11,757 shares of the energy company’s stock valued at $423,000 after purchasing an additional 398 shares in the last quarter. Redwood Wealth Management Group LLC lifted its stake in shares of Devon Energy by 3.9% in the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after purchasing an additional 309 shares during the period. Finally, Brown Lisle Cummings Inc. boosted its holdings in Devon Energy by 294.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 10,420 shares of the energy company’s stock worth $341,000 after buying an additional 7,775 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DVN. Truist Financial decreased their target price on Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Thursday, December 5th. Citigroup cut their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Piper Sandler boosted their target price 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, Susquehanna decreased their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $49.45.

Devon Energy Trading Down 0.9 %

DVN opened at $33.13 on Monday. The firm’s 50 day moving average is $34.47 and its 200-day moving average is $38.95. The firm has a market capitalization of $21.76 billion, a P/E ratio of 6.15, a P/E/G ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 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.