Sierra Ocean LLC Purchases New Position in Devon Energy Co. (NYSE:DVN)

Sierra Ocean LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, Holdings Channel.com reports. The firm bought 1,321 shares of the energy company’s stock, valued at approximately $43,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy during the 3rd quarter worth approximately $35,000. True Wealth Design LLC grew its holdings 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 during the period. Hazlett Burt & Watson Inc. grew its holdings in shares of Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after acquiring an additional 290 shares during the period. Activest Wealth Management grew its holdings 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 during the period. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of Devon Energy during the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 1.3 %

NYSE:DVN opened at $34.68 on Tuesday. 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 firm 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. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The business has a fifty day moving average price of $34.25 and a 200-day moving average price of $38.46.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Friday, January 3rd. Raymond James upped their price target on Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Finally, Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Wednesday, January 15th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $49.45.

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.