GF Fund Management CO. LTD. Cuts Holdings in Devon Energy Corporation $DVN

GF Fund Management CO. LTD. lessened its position in shares of Devon Energy Corporation (NYSE:DVN) by 11.2% in the third quarter, Holdings Channel.com reports. The fund owned 174,166 shares of the energy company’s stock after selling 21,912 shares during the quarter. GF Fund Management CO. LTD.’s holdings in Devon Energy were worth $6,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Yousif Capital Management LLC lifted its stake in shares of Devon Energy by 0.4% in the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after purchasing an additional 321 shares in the last quarter. ORG Partners LLC raised its holdings in Devon Energy by 65.7% in the third quarter. ORG Partners LLC now owns 888 shares of the energy company’s stock valued at $31,000 after buying an additional 352 shares during the period. MAI Capital Management lifted its position in Devon Energy by 2.3% during the second quarter. MAI Capital Management now owns 17,647 shares of the energy company’s stock valued at $561,000 after buying an additional 395 shares in the last quarter. IHT Wealth Management LLC lifted its position in Devon Energy by 1.6% during the second quarter. IHT Wealth Management LLC now owns 24,904 shares of the energy company’s stock valued at $792,000 after buying an additional 399 shares in the last quarter. Finally, M.E. Allison & CO. Inc. grew its stake in Devon Energy by 6.0% during the third quarter. M.E. Allison & CO. Inc. now owns 7,063 shares of the energy company’s stock worth $248,000 after buying an additional 400 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Up 1.5%

Shares of NYSE DVN opened at $44.63 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $45.02. The stock’s 50-day simple moving average is $38.24 and its 200-day simple moving average is $35.73. The firm has a market cap of $28.00 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 3.97 and a beta of 0.61.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DVN shares. Benchmark restated a “buy” rating on shares of Devon Energy in a report on Friday, January 16th. Jefferies Financial Group boosted their price objective on Devon Energy from $33.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings raised Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Wells Fargo & Company increased their target price on Devon Energy from $37.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Finally, Scotiabank boosted their price target on Devon Energy from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.24.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.