Moloney Securities Asset Management LLC Sells 17,452 Shares of Devon Energy Co. (NYSE:DVN)

Moloney Securities Asset Management LLC decreased its position in shares of Devon Energy Co. (NYSE:DVN) by 64.6% in the fourth quarter, Holdings Channel reports. The fund owned 9,570 shares of the energy company’s stock after selling 17,452 shares during the period. Moloney Securities Asset Management LLC’s holdings in Devon Energy were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Riversedge Advisors LLC lifted its position in shares of Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after purchasing an additional 253 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares during the last quarter. Sfmg LLC lifted its holdings in shares of Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after buying an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC boosted its position in shares of Devon Energy by 3.9% in the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after acquiring an additional 309 shares during the period. Finally, Brighton Jones LLC grew its stake in shares of Devon Energy by 0.7% in the third quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock worth $1,663,000 after acquiring an additional 310 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Performance

NYSE:DVN opened at $34.24 on Tuesday. The stock has a market capitalization of $22.49 billion, a P/E ratio of 6.35, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The firm has a 50 day moving average of $34.41 and a 200-day moving average of $38.87.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DVN shares. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Wells Fargo & Company cut their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Truist Financial decreased their target price on Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. Piper Sandler upped their price target on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Susquehanna decreased their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.