Devon Energy Co. (NYSE:DVN) Shares Sold by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV decreased its holdings in Devon Energy Co. (NYSE:DVN) by 27.2% in the second quarter, HoldingsChannel.com reports. The firm owned 5,228 shares of the energy company’s stock after selling 1,955 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Devon Energy were worth $238,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of DVN. Salem Investment Counselors Inc. grew its position in shares of Devon Energy by 31.4% in the first quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. Retirement Group LLC grew its position in Devon Energy by 21.8% in the first quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after acquiring an additional 199 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Devon Energy by 7.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after acquiring an additional 209 shares during the period. MCF Advisors LLC grew its position in Devon Energy by 5.6% in the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after acquiring an additional 215 shares during the period. Finally, Magnolia Capital Advisors LLC grew its position in Devon Energy by 1.0% in the first quarter. Magnolia Capital Advisors LLC now owns 23,316 shares of the energy company’s stock worth $1,208,000 after acquiring an additional 230 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN stock traded down $1.31 during mid-day trading on Monday, hitting $41.48. 12,215,760 shares of the stock were exchanged, compared to its average volume of 7,249,023. The stock’s fifty day simple moving average is $46.69 and its two-hundred day simple moving average is $47.25. The stock has a market capitalization of $26.22 billion, a price-to-earnings ratio of 7.92, a P/E/G ratio of 0.75 and a beta of 2.07. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04.

Insiders Place Their Bets

In related news, EVP Tana K. Cashion sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the transaction, the executive vice president now owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DVN shares. Wells Fargo & Company decreased their price target on Devon Energy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Truist Financial decreased their price target on Devon Energy from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Morgan Stanley upped their price target on Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Sanford C. Bernstein reduced their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. increased their price objective on Devon Energy from $62.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.13.

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.