Lodestone Wealth Management LLC Sells 22,992 Shares of Devon Energy Co. (NYSE:DVN)

Lodestone Wealth Management LLC lessened its position in Devon Energy Co. (NYSE:DVN) by 56.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,546 shares of the energy company’s stock after selling 22,992 shares during the period. Lodestone Wealth Management LLC’s holdings in Devon Energy were worth $574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Devon Energy by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock valued at $619,747,000 after acquiring an additional 206,884 shares during the period. EnCap Energy Capital Fund XI L.P. bought a new position in shares of Devon Energy in the 3rd quarter valued at about $461,857,000. Pacer Advisors Inc. grew its position in shares of Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after acquiring an additional 1,677,652 shares during the period. EnCap Partners GP LLC bought a new position in shares of Devon Energy in the 3rd quarter valued at about $408,653,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Devon Energy by 3.8% during the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after buying an additional 361,968 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on DVN. Mizuho reduced 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. JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Thursday, December 5th. Wells Fargo & Company reduced their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Finally, 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 report on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently 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. The firm has a 50 day moving average of $34.27 and a 200-day moving average of $38.65. The stock has a market capitalization of $22.78 billion, a PE ratio of 6.43, 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 Co. has a 12 month low of $30.39 and a 12 month 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.