Childress Capital Advisors LLC Sells 1,622 Shares of Devon Energy Co. (NYSE:DVN)

Childress Capital Advisors LLC trimmed its position in Devon Energy Co. (NYSE:DVN) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,652 shares of the energy company’s stock after selling 1,622 shares during the quarter. Childress Capital Advisors LLC’s holdings in Devon Energy were worth $1,298,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Riversedge Advisors LLC lifted its stake in Devon Energy by 3.6% in 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 in the last quarter. Modus Advisors LLC lifted its holdings in Devon Energy by 2.4% during the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock worth $447,000 after buying an additional 272 shares in the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of Devon Energy by 29.8% during 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 during the period. Sfmg LLC increased its holdings in shares of Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after acquiring an additional 294 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in Devon Energy by 4.0% in the third quarter. Hexagon Capital Partners LLC now owns 8,001 shares of the energy company’s stock valued at $313,000 after acquiring an additional 310 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $33.74 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The stock has a market cap of $22.16 billion, a P/E ratio of 6.26, a PEG ratio of 1.07 and a beta of 2.00. The business’s 50-day moving average price is $34.80 and its two-hundred day moving average price is $39.31.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.65 EPS. As a group, equities analysts predict that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Citigroup reduced their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Wednesday, January 15th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Finally, Truist Financial decreased their target price on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.45.

About Devon Energy

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.