Chevy Chase Trust Holdings LLC Has $11.29 Million Position in Devon Energy Co. (NYSE:DVN)

Chevy Chase Trust Holdings LLC raised its position in Devon Energy Co. (NYSE:DVN) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 344,914 shares of the energy company’s stock after purchasing an additional 8,971 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Devon Energy were worth $11,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Devon Energy in the third quarter valued at $35,000. True Wealth Design LLC lifted its stake in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares during the last quarter. Activest Wealth Management lifted its stake in Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after acquiring an additional 480 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new stake in shares of Devon Energy during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DVN shares. Citigroup cut their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Wells Fargo & Company cut their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Thursday, December 5th. Finally, Sanford C. Bernstein upgraded 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. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Trading Up 1.3 %

Shares of Devon Energy stock opened at $34.68 on Monday. The firm has a market capitalization of $22.78 billion, a PE ratio of 6.43, a price-to-earnings-growth 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. The firm’s 50 day moving average is $34.27 and its 200 day moving average is $38.53. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09.

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.