Devon Energy Co. (NYSE:DVN) Shares Acquired by Valmark Advisers Inc.

Valmark Advisers Inc. grew its holdings in Devon Energy Co. (NYSE:DVN) by 96.3% during the 4th quarter, Holdings Channel reports. The fund owned 10,553 shares of the energy company’s stock after purchasing an additional 5,177 shares during the period. Valmark Advisers Inc.’s holdings in Devon Energy were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hazlett Burt & Watson Inc. boosted its holdings in Devon Energy by 29.8% in the third 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 during the last quarter. Sfmg LLC lifted 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 buying an additional 294 shares during the period. Redwood Wealth Management Group LLC boosted its stake 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 worth $266,000 after buying an additional 309 shares during the last quarter. Brighton Jones LLC grew its holdings in Devon Energy by 0.7% during 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 period. Finally, Cornerstone Wealth Management LLC raised its position in Devon Energy by 1.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock valued at $695,000 after acquiring an additional 326 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN stock opened at $34.98 on Wednesday. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The firm has a market capitalization of $22.98 billion, a PE ratio of 6.49, a price-to-earnings-growth 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 $34.26 and a 200-day simple moving average of $38.41.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Equities research analysts anticipate that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DVN has been the topic of several recent research reports. Truist Financial lowered their price objective 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. Cowen lowered shares of Devon Energy to a “hold” rating and dropped their price target for the company from $46.00 to $45.00 in a research report on Tuesday. Mizuho decreased their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.26.

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.