Devon Energy Co. (NYSE:DVN) Position Reduced by Quent Capital LLC

Quent Capital LLC decreased its position in shares of Devon Energy Co. (NYSE:DVN) by 19.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,609 shares of the energy company’s stock after selling 1,140 shares during the period. Quent Capital LLC’s holdings in Devon Energy were worth $151,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DVN. Capital Performance Advisors LLP acquired a new position in Devon Energy in the third quarter worth approximately $35,000. True Wealth Design LLC grew its position in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after buying an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares during the last quarter. Activest Wealth Management grew its position in Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after buying an additional 480 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in Devon Energy in the fourth quarter worth approximately $52,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 3.3 %

Shares of NYSE:DVN opened at $33.95 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The firm has a fifty day moving average of $34.31 and a two-hundred day moving average of $38.75. The firm has a market capitalization of $22.30 billion, a P/E ratio of 6.30, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Mizuho decreased their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company lowered their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Susquehanna lowered their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Citigroup lowered their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Piper Sandler lifted their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus 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.