Tandem Financial LLC Purchases Shares of 3,578 Devon Energy Co. (NYSE:DVN)

Tandem Financial LLC acquired a new position in shares of Devon Energy Co. (NYSE:DVN) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,578 shares of the energy company’s stock, valued at approximately $117,000.

A number of other hedge funds have also made changes to their positions in the business. Riversedge Advisors LLC boosted its holdings in Devon Energy by 3.6% in the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after purchasing an additional 253 shares in the last quarter. Modus Advisors LLC grew its position in shares of Devon Energy by 2.4% in the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock valued at $447,000 after buying an additional 272 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after acquiring an additional 290 shares in the last quarter. Sfmg LLC lifted its position in Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after acquiring an additional 294 shares during the last quarter. Finally, Redwood Wealth Management Group LLC boosted its stake in Devon Energy by 3.9% in the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after acquiring an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 2.2 %

Shares of Devon Energy stock opened at $33.38 on Friday. The company has a 50-day moving average of $34.57 and a two-hundred day moving average of $39.14. The stock has a market cap of $21.92 billion, a PE ratio of 6.19, a price-to-earnings-growth ratio of 1.07 and a beta of 1.98. 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 Co. has a 12-month low of $30.39 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. Devon Energy’s revenue was up 4.9% on a year-over-year basis. On average, research analysts anticipate that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on DVN shares. Scotiabank reduced their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Raymond James increased their price objective on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Piper Sandler increased their price target on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Mizuho dropped their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $49.45.

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.