Callahan Advisors LLC Takes Position in Devon Energy Co. (NYSE:DVN)

Callahan Advisors LLC purchased a new position in Devon Energy Co. (NYSE:DVN) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 6,321 shares of the energy company’s stock, valued at approximately $207,000.

A number of other institutional investors have also added to or reduced their stakes in DVN. Legacy Investment Solutions LLC purchased a new stake in shares of Devon Energy in the 3rd quarter worth about $8,002,000. Bridgewater Associates LP purchased a new position in Devon Energy during the 3rd quarter valued at about $9,426,000. Petrus Trust Company LTA boosted its stake in Devon Energy by 394.7% during the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after acquiring an additional 17,415 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Devon Energy by 6.3% in the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after purchasing an additional 6,358 shares during the period. Finally, Smead Capital Management Inc. increased its stake in shares of Devon Energy by 3.5% during the third quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock valued at $230,007,000 after purchasing an additional 198,193 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

DVN has been the topic of a number of analyst reports. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Wednesday, January 15th. Raymond James boosted their target price on Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Wells Fargo & Company reduced their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Truist Financial dropped their price target on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. Finally, Piper Sandler raised their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $49.26.

Devon Energy Trading Up 1.0 %

Shares of NYSE:DVN opened at $34.98 on Wednesday. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 6.49, a PEG ratio of 1.04 and a beta of 1.98. 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’s 50-day simple moving average is $34.26 and its two-hundred day simple moving average is $38.41.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Analysts expect that Devon Energy Co. will post 4.68 EPS for the current year.

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.