Choreo LLC Buys 1,871 Shares of Devon Energy Co. (NYSE:DVN)

Choreo LLC lifted its stake in Devon Energy Co. (NYSE:DVNFree Report) by 41.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,402 shares of the energy company’s stock after purchasing an additional 1,871 shares during the quarter. Choreo LLC’s holdings in Devon Energy were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. AlphaCrest Capital Management LLC purchased a new stake in shares of Devon Energy during the first quarter valued at approximately $364,000. Acadian Asset Management LLC bought a new stake in shares of Devon Energy in the 1st quarter worth $188,000. Blair William & Co. IL raised its stake in shares of Devon Energy by 52.1% in the first quarter. Blair William & Co. IL now owns 99,120 shares of the energy company’s stock worth $5,861,000 after purchasing an additional 33,936 shares during the last quarter. Sei Investments Co. boosted its position in shares of Devon Energy by 9.2% during the first 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 bought a new position in Devon Energy during the 1st quarter valued at about $26,000. Institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

DVN has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Devon Energy from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $57.00 to $58.00 in a report on Wednesday, December 6th. Truist Financial reduced their price objective on Devon Energy from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Susquehanna decreased their price objective on Devon Energy from $72.00 to $62.00 and set a “positive” rating on the stock in a research note on Wednesday, October 18th. Pickering Energy Partners raised shares of Devon Energy from a “neutral” rating to an “outperform” rating in a report on Thursday, November 9th. Finally, Sanford C. Bernstein downgraded Devon Energy from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research note on Tuesday, October 17th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.65.

Get Our Latest Stock Analysis on DVN

Devon Energy Trading Down 1.9 %

NYSE DVN opened at $41.59 on Friday. The stock has a market cap of $26.65 billion, a PE ratio of 7.11, a PEG ratio of 0.15 and a beta of 2.20. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $64.40. The company’s 50-day moving average price is $43.68 and its 200-day moving average price is $46.77. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVNGet Free Report) last announced its quarterly earnings results on Tuesday, November 7th. The energy company reported $1.65 earnings per share (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 during the quarter, compared to analyst estimates of $4.03 billion. Equities research analysts forecast that Devon Energy Co. will post 5.67 earnings per share for the current year.

Devon Energy Profile

(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.

Further Reading

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

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