Varma Mutual Pension Insurance Co Purchases 28,600 Shares of Devon Energy Corporation $DVN

Varma Mutual Pension Insurance Co boosted its position in shares of Devon Energy Corporation (NYSE:DVN) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 361,470 shares of the energy company’s stock after acquiring an additional 28,600 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Devon Energy were worth $12,673,000 as of its most recent SEC filing.

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

Devon Energy Price Performance

DVN stock opened at $43.98 on Friday. The firm has a market cap of $27.59 billion, a P/E ratio of 10.35, a P/E/G ratio of 3.95 and a beta of 0.61. The firm’s fifty day moving average is $38.10 and its 200 day moving average is $35.65. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $45.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DVN shares. Benchmark reissued a “buy” rating on shares of Devon Energy in a report on Friday, January 16th. Roth Mkm reissued a “buy” rating and issued a $42.00 price target on shares of Devon Energy in a report on Wednesday, December 31st. Jefferies Financial Group raised their price objective on shares of Devon Energy from $33.00 to $36.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group upped their target price on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Siebert Williams Shank increased their target price on Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.24.

Devon Energy 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.