Leavell Investment Management Inc. Sells 8,475 Shares of Devon Energy Co. (NYSE:DVN)

Leavell Investment Management Inc. reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 28.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,517 shares of the energy company’s stock after selling 8,475 shares during the period. Leavell Investment Management Inc.’s holdings in Devon Energy were worth $704,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new position in shares of Devon Energy in the third quarter worth about $8,002,000. Bridgewater Associates LP bought a new position in shares of Devon Energy in the third quarter worth about $9,426,000. Petrus Trust Company LTA increased its stake in shares of Devon Energy by 394.7% in the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after purchasing an additional 17,415 shares during the period. CIBC Asset Management Inc increased its stake in shares of Devon Energy by 6.3% in the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after purchasing an additional 6,358 shares during the period. Finally, Smead Capital Management Inc. increased its stake in shares of Devon Energy by 3.5% in the third quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock worth $230,007,000 after purchasing an additional 198,193 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DVN has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Piper Sandler boosted their price target on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Finally, TD Cowen lowered their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.45.

Devon Energy Stock Up 0.6 %

NYSE DVN opened at $34.17 on Friday. The firm has a market cap of $22.44 billion, a PE ratio of 6.34, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The stock’s 50 day simple moving average is $34.27 and its 200 day simple moving average is $38.72. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

About Devon Energy

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.