Hartford Investment Management Co. Acquires 1,512 Shares of Devon Energy Co. (NYSE:DVN)

Hartford Investment Management Co. grew its position in shares of Devon Energy Co. (NYSE:DVN) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,842 shares of the energy company’s stock after buying an additional 1,512 shares during the quarter. Hartford Investment Management Co.’s holdings in Devon Energy were worth $1,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. lifted its position in shares of 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 buying an additional 290 shares in the last quarter. Sfmg LLC raised its holdings in shares of Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after purchasing an additional 294 shares during the period. Redwood Wealth Management Group LLC raised its holdings in shares of Devon Energy by 3.9% in the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after purchasing an additional 309 shares during the period. Brighton Jones LLC raised its holdings in shares of Devon Energy by 0.7% in the 3rd quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock worth $1,663,000 after purchasing an additional 310 shares during the period. Finally, Cornerstone Wealth Management LLC raised its holdings in shares of Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock worth $695,000 after purchasing an additional 326 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on DVN shares. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research note on Friday, January 10th. TD Cowen reduced their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Piper Sandler boosted their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Raymond James boosted their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.45.

Devon Energy Price Performance

Shares of NYSE DVN opened at $34.68 on Friday. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The company’s 50-day moving average is $34.27 and its 200 day moving average is $38.65. The stock has a market capitalization of $22.78 billion, a P/E ratio of 6.43, a P/E/G ratio of 1.04 and a beta of 1.98.

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.