Blue Trust Inc. Has $394,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Blue Trust Inc. reduced its stake in Devon Energy Co. (NYSE:DVN) by 17.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,025 shares of the energy company’s stock after selling 2,461 shares during the period. Blue Trust Inc.’s holdings in Devon Energy were worth $394,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DVN. Geode Capital Management LLC grew its holdings in Devon Energy by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after acquiring an additional 206,884 shares during the period. EnCap Energy Capital Fund XI L.P. bought a new stake in shares of Devon Energy during the 3rd quarter valued at about $461,857,000. Pacer Advisors Inc. grew its stake in Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the period. EnCap Partners GP LLC bought a new stake in Devon Energy in the third quarter worth approximately $408,653,000. Finally, Victory Capital Management Inc. lifted its stake in Devon Energy by 3.8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock valued at $390,079,000 after buying an additional 361,968 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DVN has been the subject of several recent analyst reports. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, January 14th. Truist Financial decreased their price target on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Piper Sandler increased their price objective 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. Raymond James raised their target price on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company dropped their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.45.

Devon Energy Trading Up 1.3 %

Shares of DVN stock opened at $34.68 on Tuesday. 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 company has a market capitalization of $22.78 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a 50-day simple moving average of $34.25 and a two-hundred day simple moving average of $38.46.

Devon Energy Profile

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.