Devon Energy Co. (NYSE:DVN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 80.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 611,135 shares of the energy company’s stock after selling 2,581,684 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.09% of Devon Energy worth $20,412,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DVN. Exchange Traded Concepts LLC purchased a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $200,000. Creative Planning raised its stake in Devon Energy by 33.6% during the 3rd quarter. Creative Planning now owns 132,206 shares of the energy company’s stock worth $5,172,000 after acquiring an additional 33,249 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Devon Energy by 52.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 9,201 shares of the energy company’s stock valued at $360,000 after purchasing an additional 3,160 shares during the last quarter. KMG Fiduciary Partners LLC lifted its holdings in shares of Devon Energy by 4.7% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 35,900 shares of the energy company’s stock valued at $1,404,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Devon Energy by 41.4% in the 3rd quarter. Blue Trust Inc. now owns 14,486 shares of the energy company’s stock valued at $567,000 after acquiring an additional 4,241 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of DVN stock opened at $34.68 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company’s 50-day simple moving average is $34.27 and its 200-day simple moving average is $38.53. The stock has a market capitalization of $22.78 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 1.04 and a beta of 1.98.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on DVN shares. Raymond James boosted their target price on Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. TD Cowen reduced their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Benchmark raised Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Finally, Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Wednesday, January 15th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price 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.