Strategic Financial Concepts LLC Buys Shares of 20,487 Devon Energy Co. (NYSE:DVN)

Strategic Financial Concepts LLC purchased a new position in shares of Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,487 shares of the energy company’s stock, valued at approximately $671,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy during the 3rd quarter worth approximately $35,000. True Wealth Design LLC increased its position in 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 purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares during the last quarter. Activest Wealth Management raised its stake in Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after purchasing an additional 480 shares during the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new position in Devon Energy in the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of DVN stock opened at $35.10 on Wednesday. The firm has a fifty day simple moving average of $34.36 and a 200-day simple moving average of $38.79. The company has a market capitalization of $23.05 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Wall Street Analyst Weigh In

DVN has been the subject of a number of analyst reports. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Susquehanna dropped their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Finally, Wells Fargo & Company decreased their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.