Grace & White Inc. NY Raises Stock Position in Devon Energy Co. (NYSE:DVN)

Grace & White Inc. NY lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 55.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,236 shares of the energy company’s stock after purchasing an additional 35,550 shares during the quarter. Grace & White Inc. NY’s holdings in Devon Energy were worth $3,281,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in DVN. Great Lakes Retirement Inc. boosted its stake in shares of Devon Energy by 76.7% in the 4th quarter. Great Lakes Retirement Inc. now owns 262,716 shares of the energy company’s stock valued at $8,599,000 after buying an additional 114,042 shares during the period. Hartford Investment Management Co. lifted its stake in Devon Energy by 3.8% in the fourth quarter. Hartford Investment Management Co. now owns 40,842 shares of the energy company’s stock worth $1,337,000 after acquiring an additional 1,512 shares during the last quarter. Augustine Asset Management Inc. grew its holdings in Devon Energy by 7.1% during the 4th quarter. Augustine Asset Management Inc. now owns 7,157 shares of the energy company’s stock worth $234,000 after acquiring an additional 475 shares in the last quarter. Sovran Advisors LLC purchased a new stake in shares of Devon Energy in the 4th quarter valued at approximately $1,955,000. Finally, Essex Financial Services Inc. raised its holdings in shares of Devon Energy by 129.5% in the 4th quarter. Essex Financial Services Inc. now owns 21,291 shares of the energy company’s stock valued at $697,000 after purchasing an additional 12,015 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Benchmark raised Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, January 14th. Citigroup cut their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Mizuho cut their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $33.95 on Thursday. The company has a 50-day simple moving average of $34.31 and a 200-day simple moving average of $38.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The company has a market cap of $22.30 billion, a PE ratio of 6.30, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09.

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.