Texas Permanent School Fund Corp Sells 2,175 Shares of Devon Energy Co. (NYSE:DVN)

Texas Permanent School Fund Corp lessened its position in Devon Energy Co. (NYSE:DVNFree Report) by 1.6% in the third quarter, HoldingsChannel reports. The firm owned 132,392 shares of the energy company’s stock after selling 2,175 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Devon Energy were worth $6,315,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in DVN. Wahed Invest LLC increased its holdings in shares of Devon Energy by 2.1% in the first quarter. Wahed Invest LLC now owns 7,933 shares of the energy company’s stock worth $469,000 after purchasing an additional 161 shares during the last quarter. Stevard LLC increased its stake in Devon Energy by 3.1% during the second quarter. Stevard LLC now owns 6,842 shares of the energy company’s stock worth $331,000 after acquiring an additional 205 shares during the last quarter. Avior Wealth Management LLC increased its stake in Devon Energy by 4.9% during the third quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company’s stock worth $210,000 after acquiring an additional 207 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in Devon Energy by 1.9% during the third quarter. Cornerstone Wealth Management LLC now owns 11,540 shares of the energy company’s stock worth $550,000 after acquiring an additional 218 shares during the last quarter. Finally, MCF Advisors LLC increased its stake in Devon Energy by 9.0% during the third quarter. MCF Advisors LLC now owns 2,681 shares of the energy company’s stock worth $128,000 after acquiring an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Devon Energy Stock Down 1.9 %

Shares of NYSE DVN opened at $41.59 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 0.96. The firm has a market capitalization of $26.65 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 0.15 and a beta of 2.20. The stock has a 50 day moving average price of $43.68 and a 200 day moving average price of $46.68. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $64.40.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DVN. Stifel Nicolaus reduced their price objective on Devon Energy from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Wells Fargo & Company reduced their price objective on Devon Energy from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 22nd. Morgan Stanley raised Devon Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $48.00 to $52.00 in a research note on Monday, December 11th. Pickering Energy Partners raised Devon Energy from a “neutral” rating to an “outperform” rating in a research note on Thursday, November 9th. Finally, Piper Sandler cut their target price on Devon Energy from $61.00 to $59.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.65.

Read Our Latest Analysis on DVN

Devon Energy Company Profile

(Free Report)

Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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