Devon Energy Co. (NYSE:DVN) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its holdings in Devon Energy Co. (NYSE:DVN) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 736,351 shares of the energy company’s stock after acquiring an additional 31,520 shares during the period. New York State Teachers Retirement System owned 0.11% of Devon Energy worth $24,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Devon Energy by 1.3% in the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock valued at $619,747,000 after purchasing an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new stake in Devon Energy in the 3rd quarter valued at approximately $461,857,000. Pacer Advisors Inc. grew its holdings in Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after buying an additional 1,677,652 shares during the last quarter. EnCap Partners GP LLC purchased a new position in Devon Energy during the third quarter worth $408,653,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Devon Energy by 3.8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after acquiring an additional 361,968 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

NYSE:DVN opened at $34.68 on Friday. The firm’s fifty day simple moving average is $34.27 and its 200 day simple moving average is $38.59. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The firm has a market capitalization of $22.78 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 1.04 and a beta of 1.98.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DVN shares. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Thursday, December 5th. Piper Sandler upped their price objective 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. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Friday, January 3rd. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Devon Energy 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.