Sanctuary Advisors LLC Sells 60,569 Shares of Devon Energy Co. (NYSE:DVN)

Sanctuary Advisors LLC lessened its holdings in Devon Energy Co. (NYSE:DVN) by 16.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 317,772 shares of the energy company’s stock after selling 60,569 shares during the period. Sanctuary Advisors LLC’s holdings in Devon Energy were worth $11,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy in the 3rd quarter worth approximately $35,000. True Wealth Design LLC boosted its stake in shares of Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after buying an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares during the last quarter. Activest Wealth Management boosted 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 buying an additional 480 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Devon Energy in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DVN. Mizuho cut their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. TD Cowen dropped their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Piper Sandler upped their price objective on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial dropped their price objective on 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, Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research note on Friday, January 10th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.26.

Devon Energy Trading Up 1.0 %

Devon Energy stock opened at $34.98 on Wednesday. The stock has a market cap of $22.98 billion, a P/E ratio of 6.49, a PEG ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The firm’s fifty day moving average price is $34.26 and its 200-day moving average price is $38.41. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Equities research analysts forecast that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

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.