Journey Strategic Wealth LLC Sells 358 Shares of Devon Energy Co. (NYSE:DVN)

Journey Strategic Wealth LLC lessened its holdings in shares of Devon Energy Co. (NYSE:DVN) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,399 shares of the energy company’s stock after selling 358 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Devon Energy were worth $209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bridgewater Associates LP purchased a new stake in shares of Devon Energy in the third quarter worth about $9,426,000. Legacy Investment Solutions LLC purchased a new stake in shares of Devon Energy in the third quarter worth about $8,002,000. Petrus Trust Company LTA lifted its holdings in shares of Devon Energy by 394.7% in the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after buying an additional 17,415 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Devon Energy by 6.3% in the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after buying an additional 6,358 shares in the last quarter. Finally, Smead Capital Management Inc. lifted its holdings in shares of Devon Energy by 3.5% in the third quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock worth $230,007,000 after buying an additional 198,193 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 1.1 %

Devon Energy stock opened at $33.74 on Tuesday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The stock has a market cap of $22.16 billion, a PE ratio of 6.26, a price-to-earnings-growth ratio of 1.07 and a beta of 2.00. 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 moving average of $34.80 and a two-hundred day moving average of $39.31.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Devon Energy’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $1.65 earnings per share. On average, research analysts anticipate that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Raymond James increased their price target on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Truist Financial lowered their target price 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. Susquehanna lowered their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Wells Fargo & Company lowered their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.