Campbell & CO Investment Adviser LLC Takes $963,000 Position in Devon Energy Co. (NYSE:DVN)

Campbell & CO Investment Adviser LLC purchased a new position in shares of Devon Energy Co. (NYSE:DVNFree Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,187 shares of the energy company’s stock, valued at approximately $963,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaCrest Capital Management LLC purchased a new position in shares of Devon Energy during the 1st quarter valued at about $364,000. Acadian Asset Management LLC purchased a new position in shares of Devon Energy during the 1st quarter valued at about $188,000. Blair William & Co. IL raised its stake in shares of Devon Energy by 52.1% during the 1st quarter. Blair William & Co. IL now owns 99,120 shares of the energy company’s stock valued at $5,861,000 after buying an additional 33,936 shares during the last quarter. Sei Investments Co. raised its stake in shares of Devon Energy by 9.2% during the 1st quarter. Sei Investments Co. now owns 414,354 shares of the energy company’s stock valued at $24,500,000 after buying an additional 34,870 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Devon Energy during the 1st quarter valued at about $26,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the subject of a number of recent research reports. UBS Group reduced their price objective on Devon Energy from $52.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, December 14th. Piper Sandler reduced their price objective on Devon Energy from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Mizuho cut their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Morgan Stanley upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $48.00 to $52.00 in a research note on Monday, December 11th. Finally, Susquehanna cut their price objective on Devon Energy from $72.00 to $62.00 and set a “positive” rating for the company in a research note on Wednesday, October 18th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.65.

Get Our Latest Report on DVN

Devon Energy Trading Down 1.9 %

Shares of Devon Energy stock opened at $41.59 on Friday. The stock has a market cap of $26.65 billion, a P/E ratio of 7.11, a P/E/G ratio of 0.15 and a beta of 2.20. The stock’s 50 day simple moving average is $43.68 and its 200-day simple moving average is $46.77. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $64.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.89.

Devon Energy (NYSE:DVNGet Free Report) last released its quarterly earnings data on Tuesday, November 7th. The energy company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. Devon Energy had a return on equity of 33.97% and a net margin of 24.63%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Analysts predict that Devon Energy Co. will post 5.67 EPS for the current fiscal year.

About Devon Energy

(Free Report)

Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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