Summit Trail Advisors LLC Boosts Stock Position in Devon Energy Co. (NYSE:DVN)

Summit Trail Advisors LLC increased its position in Devon Energy Co. (NYSE:DVN) by 80.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,904 shares of the energy company’s stock after acquiring an additional 8,844 shares during the quarter. Summit Trail Advisors LLC’s holdings in Devon Energy were worth $651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Devon Energy during the third quarter worth about $8,002,000. Bridgewater Associates LP purchased a new stake in Devon Energy during the 3rd quarter valued at approximately $9,426,000. Petrus Trust Company LTA grew its holdings in Devon Energy by 394.7% during the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after buying an additional 17,415 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Devon Energy by 6.3% during the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after buying an additional 6,358 shares during the last quarter. Finally, Smead Capital Management Inc. lifted its holdings 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 buying an additional 198,193 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 2.4 %

DVN opened at $35.10 on Wednesday. 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 stock’s 50 day moving average price is $34.36 and its 200-day moving average price is $38.79. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The stock has a market cap of $23.05 billion, a price-to-earnings ratio of 6.51, a P/E/G ratio of 1.04 and a beta of 1.98.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research reports. Truist Financial reduced their price target on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Friday, January 3rd. Citigroup dropped their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Benchmark raised Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, January 14th. Finally, Piper Sandler upped their price objective on Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $49.45.

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.