Devon Energy Co. (NYSE:DVN) Shares Sold by Ellis Investment Partners LLC

Ellis Investment Partners LLC cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 11.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,595 shares of the energy company’s stock after selling 6,379 shares during the period. Ellis Investment Partners LLC’s holdings in Devon Energy were worth $1,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BXM Wealth LLC acquired a new position in Devon Energy during the 4th quarter worth $220,000. ABC Arbitrage SA acquired a new stake in Devon Energy in the fourth quarter worth about $2,472,000. New York State Teachers Retirement System grew its position in Devon Energy by 4.5% in the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company’s stock valued at $24,101,000 after buying an additional 31,520 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in Devon Energy by 2.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 344,914 shares of the energy company’s stock valued at $11,289,000 after buying an additional 8,971 shares during the period. Finally, Asset Planning Inc bought a new stake in shares of Devon Energy during the 4th quarter worth about $54,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 1.3 %

Devon Energy stock opened at $34.68 on Friday. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a market cap of $22.78 billion, a PE ratio of 6.43, a P/E/G ratio of 1.04 and a beta of 1.98. The firm’s 50 day moving average price is $34.27 and its two-hundred day moving average price is $38.59.

Analysts Set New Price Targets

Several research firms have recently issued reports on DVN. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Mizuho dropped their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Thursday, December 5th. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Wednesday, January 15th. Finally, Wells Fargo & Company cut their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average 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.