Devon Energy Co. (NYSE:DVN) Shares Acquired by V Square Quantitative Management LLC

V Square Quantitative Management LLC raised its holdings in shares of Devon Energy Co. (NYSE:DVN) by 11.8% in the 4th quarter, HoldingsChannel reports. The fund owned 10,284 shares of the energy company’s stock after buying an additional 1,083 shares during the quarter. V Square Quantitative Management LLC’s holdings in Devon Energy were worth $337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy during the 3rd quarter worth 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 worth $44,000 after buying an additional 1,089 shares during 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 worth $49,000 after buying an additional 290 shares during the last quarter. Activest Wealth Management grew its stake 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 buying an additional 480 shares during the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new position in Devon Energy during the 4th quarter worth approximately $52,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Performance

NYSE:DVN opened at $34.68 on Monday. 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 fifty-two week low of $30.39 and a fifty-two week high of $55.09. The stock has a market cap of $22.78 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. The firm’s fifty day simple moving average is $34.27 and its 200-day simple moving average is $38.53.

Analysts Set New Price Targets

A number of brokerages have recently commented on DVN. Raymond James lifted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Citigroup cut their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Thursday, December 5th. Nine 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 has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

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.