Center for Financial Planning Inc. Lowers Stake in Devon Energy Co. (NYSE:DVN)

Center for Financial Planning Inc. reduced its position in shares of Devon Energy Co. (NYSE:DVN) by 85.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,110 shares of the energy company’s stock after selling 6,730 shares during the quarter. Center for Financial Planning Inc.’s holdings in Devon Energy were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DVN. Exchange Traded Concepts LLC purchased a new position in Devon Energy in the 3rd quarter valued at about $200,000. Creative Planning lifted its stake in Devon Energy by 33.6% in the 3rd quarter. Creative Planning now owns 132,206 shares of the energy company’s stock valued at $5,172,000 after buying an additional 33,249 shares in the last quarter. Sumitomo Life Insurance Co. lifted its stake in Devon Energy by 4.3% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,497 shares of the energy company’s stock valued at $684,000 after buying an additional 727 shares in the last quarter. SPC Financial Inc. lifted its stake in Devon Energy by 11.6% in the 3rd quarter. SPC Financial Inc. now owns 15,188 shares of the energy company’s stock valued at $594,000 after buying an additional 1,573 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its stake in Devon Energy by 13.7% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 20,916 shares of the energy company’s stock valued at $818,000 after buying an additional 2,524 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

NYSE:DVN opened at $34.68 on Friday. 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 stock has a market capitalization of $22.78 billion, a P/E ratio of 6.43, a PEG ratio of 1.04 and a beta of 1.98. The company has a 50 day moving average price of $34.27 and a 200 day moving average price of $38.65. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09.

Wall Street Analyst Weigh In

DVN has been the topic of a number of research reports. Wells Fargo & Company decreased their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Truist Financial cut their price objective on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a report on Monday, January 13th. Mizuho cut their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Piper Sandler increased their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, TD Cowen cut their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.45.

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.