Asset Management One Co. Ltd. Boosts Holdings in Devon Energy Co. (NYSE:DVN)

Asset Management One Co. Ltd. raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,671 shares of the energy company’s stock after purchasing an additional 3,424 shares during the period. Asset Management One Co. Ltd.’s holdings in Devon Energy were worth $7,696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Devon Energy during the third quarter valued at $35,000. True Wealth Design LLC lifted its stake in shares of 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 in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in shares of 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 in the last quarter. Activest Wealth Management lifted its stake in shares of 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 in the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of Devon Energy in the fourth quarter worth about $52,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Price Performance

Shares of DVN opened at $34.68 on Tuesday. 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 stock has a market cap of $22.78 billion, a PE ratio of 6.43, a P/E/G ratio of 1.04 and a beta of 1.98. The firm has a 50-day simple moving average of $34.25 and a two-hundred day simple moving average of $38.46. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09.

Analyst Ratings Changes

DVN has been the topic of several research reports. Raymond James raised their price target on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Truist Financial decreased their price target on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. TD Cowen decreased their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Piper Sandler lifted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

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.