Sumitomo Mitsui Trust Group Inc. Sells 78,408 Shares of Devon Energy Co. (NYSE:DVN)

Sumitomo Mitsui Trust Group Inc. cut its holdings in Devon Energy Co. (NYSE:DVN) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,564,355 shares of the energy company’s stock after selling 78,408 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Devon Energy were worth $51,201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Capital Performance Advisors LLP purchased a new position in Devon Energy during the third quarter valued at $35,000. True Wealth Design LLC raised 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 during the period. Hazlett Burt & Watson Inc. lifted its position in shares of Devon Energy by 29.8% during 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 in the last quarter. Activest Wealth Management grew its stake in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after acquiring an additional 480 shares during the period. Finally, Endeavor Private Wealth Inc. purchased a new stake in Devon Energy in the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

NYSE:DVN opened at $34.24 on Tuesday. The firm has a market capitalization of $22.49 billion, a price-to-earnings ratio of 6.35, a PEG ratio of 1.04 and a beta of 1.98. 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 business has a 50 day simple moving average of $34.41 and a 200-day simple moving average of $38.87. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DVN shares. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Thursday, December 5th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Friday, January 3rd. Susquehanna dropped their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Finally, StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.