Kestra Private Wealth Services LLC Sells 2,109 Shares of Devon Energy Co. (NYSE:DVN)

Kestra Private Wealth Services LLC trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,581 shares of the energy company’s stock after selling 2,109 shares during the period. Kestra Private Wealth Services LLC’s holdings in Devon Energy were worth $870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Riversedge Advisors LLC raised its stake in shares of Devon Energy by 3.6% during the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after buying an additional 253 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in shares of Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares during the last quarter. Sfmg LLC raised its stake in shares of Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after buying an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC raised its stake in shares of Devon Energy by 3.9% during the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after buying an additional 309 shares during the last quarter. Finally, Brighton Jones LLC increased its stake in Devon Energy by 0.7% in the third quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock valued at $1,663,000 after purchasing an additional 310 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on DVN. Mizuho lowered their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Friday, January 3rd. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Wednesday, January 15th. Finally, Raymond James upped their target price on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.45.

Devon Energy Stock Performance

Shares of DVN opened at $34.17 on Friday. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The firm has a fifty day simple moving average of $34.27 and a 200 day simple moving average of $38.72. The stock has a market capitalization of $22.44 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 1.04 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 Company 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.