Newbridge Financial Services Group Inc. Has $91,000 Holdings in Devon Energy Co. (NYSE:DVN)

Newbridge Financial Services Group Inc. decreased its stake in shares of Devon Energy Co. (NYSE:DVN) by 35.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,779 shares of the energy company’s stock after selling 1,546 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Devon Energy were worth $91,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of DVN. Riversedge Advisors LLC grew its holdings in Devon Energy by 3.6% in the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after purchasing an additional 253 shares during the period. Hazlett Burt & Watson Inc. boosted its position in shares of 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 purchasing an additional 290 shares in the last quarter. Sfmg LLC boosted its position in shares of Devon Energy by 0.5% during the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after purchasing an additional 294 shares in the last quarter. Redwood Wealth Management Group LLC grew its stake in shares of Devon Energy by 3.9% in the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after buying an additional 309 shares during the period. Finally, Brighton Jones LLC increased its position in Devon Energy by 0.7% in the 3rd quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock valued at $1,663,000 after buying an additional 310 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on DVN shares. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a research report on Thursday, December 5th. TD Cowen lowered their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Citigroup reduced their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, Piper Sandler boosted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.45.

Devon Energy Price Performance

DVN opened at $34.24 on Tuesday. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The firm has a 50-day moving average of $34.41 and a 200 day moving average of $38.87. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a market cap of $22.49 billion, a P/E ratio of 6.35, a PEG ratio of 1.04 and a beta of 1.98.

About Devon Energy

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.