U.S. Capital Wealth Advisors LLC Reduces Position in Devon Energy Co. (NYSE:DVN)

U.S. Capital Wealth Advisors LLC cut its stake in Devon Energy Co. (NYSE:DVN) by 35.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,550 shares of the energy company’s stock after selling 45,590 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Devon Energy were worth $2,669,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

DVN has been the topic of several recent analyst reports. Citigroup cut their target price 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 decreased their price objective on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. TD Cowen cut their target price 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. Piper Sandler upped their price target on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Stock Down 1.1 %

Shares of NYSE:DVN opened at $33.74 on Tuesday. 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 stock has a fifty day simple moving average of $34.80 and a two-hundred day simple moving average of $39.31. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The stock has a market capitalization of $22.16 billion, a price-to-earnings ratio of 6.26, a PEG ratio of 1.07 and a beta of 2.00.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. On average, research analysts anticipate that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

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.