Caprock Group LLC Takes Position in Devon Energy Corporation $DVN

Caprock Group LLC bought a new position in shares of Devon Energy Corporation (NYSE:DVN) in the third quarter, HoldingsChannel reports. The institutional investor bought 52,909 shares of the energy company’s stock, valued at approximately $1,910,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Woodline Partners LP grew its position in shares of Devon Energy by 98.8% in the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after purchasing an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Devon Energy in the 2nd quarter valued at $403,000. MGO One Seven LLC increased its position in Devon Energy by 103.0% during the 2nd quarter. MGO One Seven LLC now owns 16,634 shares of the energy company’s stock worth $529,000 after buying an additional 8,439 shares during the period. Yousif Capital Management LLC increased its position in Devon Energy by 0.4% during the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock worth $2,776,000 after buying an additional 321 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Devon Energy by 12.6% during the second quarter. Sequoia Financial Advisors LLC now owns 52,368 shares of the energy company’s stock worth $1,666,000 after buying an additional 5,863 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

DVN has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating on shares of Devon Energy in a research report on Friday, January 16th. Morgan Stanley lowered their target price on shares of Devon Energy from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Mizuho set a $51.00 price target on Devon Energy in a research note on Tuesday, February 3rd. Piper Sandler reduced their price target on Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Finally, TD Cowen raised Devon Energy to a “hold” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.24.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $44.63 on Friday. The firm has a 50 day simple moving average of $38.24 and a 200 day simple moving average of $35.72. The company has a market cap of $28.00 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 3.91 and a beta of 0.61. Devon Energy Corporation has a one year low of $25.89 and a one year high of $45.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87.

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.