Thompson Investment Management Inc. Acquires 600 Shares of Devon Energy Co. (NYSE:DVN)

Thompson Investment Management Inc. lifted its stake in Devon Energy Co. (NYSE:DVN) by 60.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,600 shares of the energy company’s stock after purchasing an additional 600 shares during the quarter. Thompson Investment Management Inc.’s holdings in Devon Energy were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DVN. Geode Capital Management LLC grew its stake in shares of Devon Energy by 1.3% in the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after acquiring an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. bought a new position in Devon Energy in the 3rd quarter worth about $461,857,000. Pacer Advisors Inc. grew its position in 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 purchasing an additional 1,677,652 shares during the last quarter. EnCap Partners GP LLC bought a new stake in Devon Energy during the 3rd quarter valued at about $408,653,000. Finally, Victory Capital Management Inc. raised its holdings in Devon Energy by 3.8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after buying an additional 361,968 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. TD Cowen cut their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Wednesday, January 15th. Citigroup dropped their price objective 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. Finally, Raymond James boosted their target price on Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.45.

Devon Energy Stock Performance

NYSE:DVN opened at $33.13 on Monday. 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 has a 50-day simple moving average of $34.47 and a two-hundred day simple moving average of $38.95. The firm has a market capitalization of $21.76 billion, a PE ratio of 6.15, a P/E/G ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09.

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.