Oppenheimer & Co. Inc. Sells 24,110 Shares of Devon Energy Corporation $DVN

Oppenheimer & Co. Inc. trimmed its position in Devon Energy Corporation (NYSE:DVN) by 14.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,816 shares of the energy company’s stock after selling 24,110 shares during the period. Oppenheimer & Co. Inc.’s holdings in Devon Energy were worth $5,007,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caldwell Trust Co purchased a new stake in shares of Devon Energy during the 2nd quarter valued at $25,000. PFS Partners LLC acquired a new position in Devon Energy during the 3rd quarter valued at about $25,000. First Horizon Corp acquired a new position in Devon Energy during the 3rd quarter valued at about $26,000. ORG Partners LLC raised its stake in Devon Energy by 65.7% in the third quarter. ORG Partners LLC now owns 888 shares of the energy company’s stock valued at $31,000 after buying an additional 352 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Devon Energy in the second quarter worth about $34,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Devon Energy

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Raymond James raised its price target to $52 and kept an “outperform” rating, signaling analyst confidence and giving upside to the stock. Raymond James raises PT to $52
• Positive Sentiment: Short interest fell ~12.6% in January to ~19.33M shares (about 3.1% of float), reducing near-term short-pressure and lowering a potential headwind from squeezes; days-to-cover is ~2.1. (Data summary provided in filings/market reports.)
• Neutral Sentiment: TD Cowen moved DVN to a “hold” rating — not bearish, but less enthusiastic than a buy — so this is unlikely to strongly change sentiment alone. TD Cowen upgrade to hold
• Neutral Sentiment: Devon is drawing investor attention on Zacks (higher user interest), which can increase volume/volatility into earnings but does not itself change fundamentals. Zacks: Devon attracting attention
• Neutral Sentiment: Reminder: Devon is scheduled to report Q4 earnings on Feb. 17, a predictable near-term catalyst that investors are positioning for. Earnings date reminder
• Negative Sentiment: Multiple previews (Zacks) show consensus expectations for a weaker Q4: EPS consensus ~$0.86 (down about 25.9% Y/Y) and revenue/earnings pressures — raising risk of a disappointment on the print. Zacks Q4 earnings preview (Feb 11) Zacks earnings preview (Feb 10)

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price target on Devon Energy from $33.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Benchmark reissued a “buy” rating on shares of Devon Energy in a research report on Friday, January 16th. Roth Mkm reaffirmed a “buy” rating and issued a $42.00 price target on shares of Devon Energy in a report on Wednesday, December 31st. BMO Capital Markets lowered their price objective on shares of Devon Energy from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. Finally, Wells Fargo & Company upped their target price on Devon Energy from $37.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $46.24.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $44.98 on Thursday. The company has a 50 day simple moving average of $37.97 and a two-hundred day simple moving average of $35.59. The stock has a market cap of $28.22 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 3.80 and a beta of 0.61. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $45.02.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.