Shell Asset Management Co. Trims Stock Position in Devon Energy Corporation $DVN

Shell Asset Management Co. cut its stake in Devon Energy Corporation (NYSE:DVN) by 53.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,878 shares of the energy company’s stock after selling 75,460 shares during the quarter. Shell Asset Management Co.’s holdings in Devon Energy were worth $2,345,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. PFS Partners LLC bought a new position in Devon Energy in the third quarter worth about $25,000. First Horizon Corp bought a new position in shares of Devon Energy in the 3rd quarter worth approximately $26,000. Caldwell Trust Co purchased a new position in shares of Devon Energy in the 2nd quarter valued at approximately $25,000. ORG Partners LLC boosted its position in shares of Devon Energy by 65.7% during the third quarter. ORG Partners LLC now owns 888 shares of the energy company’s stock valued at $31,000 after purchasing an additional 352 shares in the last quarter. Finally, American National Bank & Trust grew its stake in Devon Energy by 2,638.9% in the third quarter. American National Bank & Trust now owns 986 shares of the energy company’s stock worth $35,000 after purchasing an additional 950 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 1.5%

Shares of Devon Energy stock opened at $44.63 on Friday. The company has a 50-day simple moving average of $38.24 and a two-hundred day simple moving average of $35.73. The stock has a market capitalization of $28.00 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 3.97 and a beta of 0.61. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $45.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96.

Wall Street Analysts Forecast Growth

DVN has been the subject of several recent research reports. TD Cowen raised Devon Energy to a “hold” rating in a research report on Monday, February 9th. Jefferies Financial Group increased their price target on shares of Devon Energy from $33.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Raymond James Financial boosted their price objective on shares of Devon Energy from $44.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday. Zacks Research downgraded shares of Devon Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Finally, Roth Mkm reiterated a “buy” rating and set a $42.00 target price on shares of Devon Energy in a report on Wednesday, December 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.24.

Devon Energy Company Profile

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.