Ascend Capital LLC purchased a new stake in Devon Energy Corp (NYSE:DVN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 283,880 shares of the energy company’s stock, valued at approximately $11,753,000.
A number of other large investors also recently added to or reduced their stakes in DVN. Taylor Hoffman Wealth Management bought a new stake in Devon Energy in the fourth quarter valued at $102,000. NuWave Investment Management LLC bought a new stake in Devon Energy in the fourth quarter valued at $111,000. FNY Managed Accounts LLC bought a new stake in Devon Energy in the third quarter valued at $134,000. Advisory Services Network LLC boosted its holdings in Devon Energy by 127.8% in the fourth quarter. Advisory Services Network LLC now owns 3,445 shares of the energy company’s stock valued at $143,000 after acquiring an additional 1,933 shares in the last quarter. Finally, Sawyer & Company Inc bought a new stake in Devon Energy in the fourth quarter valued at $151,000. Institutional investors and hedge funds own 76.94% of the company’s stock.
Devon Energy Corp (NYSE:DVN) opened at $31.86 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $16,740.00, a PE ratio of 18.52, a PEG ratio of 1.54 and a beta of 2.10. Devon Energy Corp has a 52-week low of $28.79 and a 52-week high of $45.16.
Several research firms recently weighed in on DVN. Capital One Financial cut shares of Devon Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 10th. Jefferies Group set a $46.00 price target on shares of Devon Energy and gave the company a “buy” rating in a report on Wednesday, December 20th. Royal Bank of Canada set a $43.00 price target on shares of Devon Energy and gave the company a “buy” rating in a report on Friday, February 23rd. Citigroup restated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a report on Tuesday, November 28th. Finally, Seaport Global Securities upgraded shares of Devon Energy from a “neutral” rating to a “buy” rating in a report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Devon Energy has an average rating of “Buy” and a consensus target price of $47.61.
In other news, EVP Lyndon C. Taylor sold 12,798 shares of Devon Energy stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.29, for a total value of $490,035.42. Following the completion of the transaction, the executive vice president now owns 67,900 shares of the company’s stock, valued at approximately $2,599,891. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.51% of the stock is owned by insiders.
About Devon Energy
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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