Grace & White Inc. NY Increases Stake in Devon Energy Co. (NYSE:DVN)

Grace & White Inc. NY boosted its stake in shares of Devon Energy Co. (NYSE:DVN) by 55.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 100,236 shares of the energy company’s stock after purchasing an additional 35,550 shares during the period. Grace & White Inc. NY’s holdings in Devon Energy were worth $3,281,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DVN. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy during the third quarter valued at $35,000. True Wealth Design LLC increased its holdings in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. raised its stake in shares of 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 during the last quarter. Activest Wealth Management lifted its holdings in shares of 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 purchasing an additional 480 shares during the period. Finally, Endeavor Private Wealth Inc. acquired a new position in Devon Energy in the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Down 3.3 %

Shares of DVN opened at $33.95 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $34.31 and a 200 day moving average price of $38.75. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The firm has a market capitalization of $22.30 billion, a P/E ratio of 6.30, a P/E/G ratio of 1.04 and a beta of 1.98.

Wall Street Analyst Weigh In

Several analysts have recently commented on DVN shares. 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 report on Tuesday, November 26th. Truist Financial lowered their price target on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, January 13th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a research report on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Company 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.