IMS Capital Management Sells 6,500 Shares of Devon Energy Co. (NYSE:DVN)

IMS Capital Management lessened its position in shares of Devon Energy Co. (NYSE:DVN) by 34.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,160 shares of the energy company’s stock after selling 6,500 shares during the quarter. IMS Capital Management’s holdings in Devon Energy were worth $398,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DVN. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy during the 3rd quarter valued at about $35,000. True Wealth Design LLC increased its holdings in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position 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 worth $49,000 after acquiring an additional 290 shares during the period. Activest Wealth Management increased its stake in shares of Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new position in Devon Energy in the 4th quarter worth $52,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Devon Energy stock opened at $34.17 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The firm’s fifty day moving average is $34.27 and its 200 day moving average is $38.72. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 1.04 and a beta of 1.98.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DVN. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Friday, January 3rd. TD Cowen lowered their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Truist Financial reduced their price objective on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Citigroup lowered their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, Mizuho dropped their target price 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. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.