Valmark Advisers Inc. Buys 5,177 Shares of Devon Energy Co. (NYSE:DVN)

Valmark Advisers Inc. raised its stake in Devon Energy Co. (NYSE:DVN) by 96.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,553 shares of the energy company’s stock after buying an additional 5,177 shares during the period. Valmark Advisers Inc.’s holdings in Devon Energy were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of DVN. Hazlett Burt & Watson Inc. grew its stake in Devon Energy by 29.8% in the third 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 lifted its holdings in shares of Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after buying an additional 294 shares during the period. Redwood Wealth Management Group LLC grew its position in shares of Devon Energy by 3.9% during the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after buying an additional 309 shares in the last quarter. Brighton Jones LLC increased its stake in shares of Devon Energy by 0.7% during the third 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 during the period. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Devon Energy by 1.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock valued at $695,000 after buying an additional 326 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DVN shares. Citigroup dropped 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. JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research note on Thursday, December 5th. Wells Fargo & Company cut their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Piper Sandler upped their target price on Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Truist Financial cut their price target on Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.26.

Devon Energy Stock Up 1.0 %

NYSE:DVN opened at $34.98 on Wednesday. The company’s 50 day moving average is $34.26 and its two-hundred day moving average is $38.41. The company has a market cap of $22.98 billion, a PE ratio of 6.49, a P/E/G ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Analysts anticipate that Devon Energy Co. will post 4.68 EPS for the current year.

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.