3,578 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Tandem Financial LLC

Tandem Financial LLC bought a new stake in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, HoldingsChannel reports. The fund bought 3,578 shares of the energy company’s stock, valued at approximately $117,000.

Several other hedge funds also recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy during the third quarter valued at $35,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Devon Energy during the 3rd quarter worth about $39,000. True Wealth Design LLC grew its holdings in shares of Devon Energy by 3,889.3% during 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 in the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of 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 buying an additional 290 shares during the last quarter. Finally, Activest Wealth Management lifted its stake in shares of Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the subject of several analyst reports. Raymond James boosted their price target on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Truist Financial dropped their price objective on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, January 13th. TD Cowen dropped their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Susquehanna lowered their price objective on shares of 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, Benchmark raised 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. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Stock Down 2.2 %

Shares of NYSE DVN opened at $33.38 on Friday. 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 stock’s 50-day simple moving average is $34.57 and its 200-day simple moving average is $39.14. The firm has a market cap of $21.92 billion, a price-to-earnings ratio of 6.19, a PEG ratio of 1.07 and a beta of 1.98.

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

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.