Mirae Asset Global Investments Co. Ltd. Purchases 13,522 Shares of Devon Energy Co. (NYSE:DVN)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Devon Energy Co. (NYSE:DVN) by 21.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 75,492 shares of the energy company’s stock after buying an additional 13,522 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Devon Energy were worth $2,366,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Riversedge Advisors LLC grew its position in Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after acquiring an additional 253 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares in the last quarter. Sfmg LLC grew its holdings in shares of Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after purchasing an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC increased 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 buying an additional 309 shares in the last quarter. Finally, Brighton Jones LLC raised its holdings in shares of Devon Energy by 0.7% in the third quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock valued at $1,663,000 after buying an additional 310 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

DVN stock opened at $33.13 on Monday. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The business’s 50-day moving average price is $34.47 and its two-hundred day moving average price is $38.95. The firm has a market cap of $21.76 billion, a PE ratio of 6.15, a P/E/G ratio of 1.04 and a beta of 1.98. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Analysts Set New Price Targets

DVN has been the subject of several research reports. Susquehanna lowered their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. TD Cowen lowered their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Wednesday, January 15th. Raymond James increased their price objective on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Mizuho dropped their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. 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 currently has a consensus rating of “Moderate Buy” and an average 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.