33,542 Shares in Devon Energy Co. (NYSE:DVN) Purchased by MOKAN Wealth Management Inc.

MOKAN Wealth Management Inc. acquired a new position in shares of Devon Energy Co. (NYSE:DVN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,542 shares of the energy company’s stock, valued at approximately $1,098,000.

A number of other large investors have also added to or reduced their stakes in the stock. Palouse Capital Management Inc. increased its holdings in Devon Energy by 1.6% during the fourth quarter. Palouse Capital Management Inc. now owns 76,057 shares of the energy company’s stock worth $2,489,000 after buying an additional 1,191 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Devon Energy during the fourth quarter worth about $671,000. Allworth Financial LP boosted its position in Devon Energy by 112.3% during the fourth quarter. Allworth Financial LP now owns 12,906 shares of the energy company’s stock worth $422,000 after purchasing an additional 6,827 shares during the period. Principal Securities Inc. boosted its position in shares of Devon Energy by 5.8% in the fourth quarter. Principal Securities Inc. now owns 15,697 shares of the energy company’s stock valued at $514,000 after acquiring an additional 858 shares during the period. Finally, BXM Wealth LLC bought a new position in shares of Devon Energy in the fourth quarter valued at approximately $220,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

DVN has been the subject of a number of analyst reports. Truist Financial cut 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 report on Monday, January 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, January 14th. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Wednesday, January 15th. Finally, Mizuho lowered their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $49.45.

Devon Energy Stock Performance

Shares of DVN stock opened at $34.68 on Friday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company’s 50-day moving average is $34.27 and its 200 day moving average is $38.59. The company has a market capitalization of $22.78 billion, a price-to-earnings ratio of 6.43, a price-to-earnings-growth 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.

About Devon Energy

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.