New Mexico Educational Retirement Board Sells 1,000 Shares of Devon Energy Co. (NYSE:DVN)

New Mexico Educational Retirement Board reduced its position in Devon Energy Co. (NYSE:DVN) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,885 shares of the energy company’s stock after selling 1,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Devon Energy were worth $978,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. New York State Teachers Retirement System lifted its position in shares of Devon Energy by 4.5% in the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company’s stock worth $24,101,000 after purchasing an additional 31,520 shares during the period. Chevy Chase Trust Holdings LLC boosted its position in Devon Energy by 2.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 344,914 shares of the energy company’s stock valued at $11,289,000 after acquiring an additional 8,971 shares in the last quarter. Asset Planning Inc purchased a new position in shares of Devon Energy in the 4th quarter valued at $54,000. V Square Quantitative Management LLC raised its position in shares of Devon Energy by 11.8% in the 4th quarter. V Square Quantitative Management LLC now owns 10,284 shares of the energy company’s stock worth $337,000 after acquiring an additional 1,083 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its stake in Devon Energy by 225.5% in the fourth quarter. Vontobel Holding Ltd. now owns 34,295 shares of the energy company’s stock valued at $1,122,000 after purchasing an additional 23,759 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Up 1.3 %

Shares of Devon Energy stock opened at $34.68 on Tuesday. The stock’s 50 day simple moving average is $34.25 and its 200-day simple moving average is $38.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The stock has a market cap of $22.78 billion, a P/E ratio of 6.43, a P/E/G ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DVN. Piper Sandler boosted their target price on Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Mizuho decreased their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, January 14th. Finally, Truist Financial dropped their price objective on Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $49.45.

About Devon Energy

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.