Devon Energy Co. (NYSE:DVN) Shares Sold by Visionary Horizons LLC

Visionary Horizons LLC lessened its stake in Devon Energy Co. (NYSE:DVN) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,741 shares of the energy company’s stock after selling 515 shares during the quarter. Visionary Horizons LLC’s holdings in Devon Energy were worth $548,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. EnCap Energy Capital Fund XI L.P. acquired a new stake in Devon Energy during the 3rd quarter worth approximately $461,857,000. EnCap Partners GP LLC purchased a new stake in Devon Energy during the third quarter worth approximately $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new stake in shares of Devon Energy in the third quarter worth $230,928,000. International Assets Investment Management LLC raised its stake in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after acquiring an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of 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 acquiring an additional 1,677,652 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the topic of several research reports. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research report on Thursday, December 5th. Wells Fargo & Company dropped their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Citigroup decreased 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. TD Cowen dropped their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Finally, Truist Financial decreased their target price on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $49.45.

Devon Energy Price Performance

Shares of NYSE DVN opened at $33.13 on Friday. The business has a 50 day simple moving average of $34.47 and a 200-day simple moving average of $39.00. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a market capitalization of $21.76 billion, a price-to-earnings ratio of 6.15, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. 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 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.