Avestar Capital LLC Takes Position in Devon Energy Co. (NYSE:DVN)

Avestar Capital LLC bought a new stake in Devon Energy Co. (NYSE:DVN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,192 shares of the energy company’s stock, valued at approximately $235,000.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy during the third quarter valued at about $35,000. True Wealth Design LLC grew its stake in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in 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 purchasing an additional 290 shares in the last quarter. Activest Wealth Management increased its holdings in Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy in the 4th quarter valued at approximately $52,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Mizuho cut their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Citigroup decreased their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Truist Financial cut their price objective on Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. Finally, TD Cowen lowered their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.45.

Devon Energy Trading Up 1.3 %

NYSE:DVN opened at $34.68 on Friday. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 1.04 and a beta of 1.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The business has a fifty day moving average of $34.27 and a 200-day moving average of $38.59.

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.