Devon Energy Co. (NYSE:DVN) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,885 shares of the energy company’s stock after selling 1,000 shares during the period. New Mexico Educational Retirement Board’s holdings in Devon Energy were worth $978,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy during the third quarter worth $35,000. True Wealth Design LLC boosted its position in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after acquiring an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings 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 valued at $49,000 after acquiring an additional 290 shares during the last quarter. Activest Wealth Management raised its position in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares in the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new stake in Devon Energy during the fourth quarter worth approximately $52,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DVN shares. JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Thursday, December 5th. Mizuho reduced their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Benchmark raised Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, January 14th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.45.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $34.68 on Tuesday. The company has a 50-day simple moving average of $34.25 and a 200-day simple moving average of $38.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The company has a market cap of $22.78 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. 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.