Devon Energy Corp (DVN) Stake Raised by Sei Investments Co.
Sei Investments Co. lifted its position in Devon Energy Corp (NYSE:DVN) by 3.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 115,517 shares of the energy company’s stock after purchasing an additional 4,157 shares during the period. Sei Investments Co.’s holdings in Devon Energy were worth $4,782,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. New Mexico Educational Retirement Board raised its stake in Devon Energy by 3.5% in the fourth quarter. New Mexico Educational Retirement Board now owns 50,535 shares of the energy company’s stock valued at $2,092,000 after purchasing an additional 1,700 shares in the last quarter. River & Mercantile Asset Management LLP raised its stake in Devon Energy by 23.8% in the fourth quarter. River & Mercantile Asset Management LLP now owns 248,090 shares of the energy company’s stock valued at $10,272,000 after purchasing an additional 47,690 shares in the last quarter. NuWave Investment Management LLC purchased a new stake in Devon Energy in the fourth quarter valued at approximately $111,000. Wealthstreet Investment Advisors LLC purchased a new stake in Devon Energy in the fourth quarter valued at approximately $415,000. Finally, KBC Group NV raised its stake in Devon Energy by 240.7% in the fourth quarter. KBC Group NV now owns 222,938 shares of the energy company’s stock valued at $9,230,000 after purchasing an additional 157,501 shares in the last quarter. 76.94% of the stock is currently owned by hedge funds and other institutional investors.
Devon Energy Corp (NYSE:DVN) opened at $31.36 on Friday. Devon Energy Corp has a 52-week low of $28.79 and a 52-week high of $45.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $16,498.50, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 1.81 and a beta of 2.26.
In other news, EVP Lyndon C. Taylor sold 12,798 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.29, for a total value of $490,035.42. Following the transaction, the executive vice president now owns 67,900 shares in the company, valued at $2,599,891. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is currently owned by company insiders.
DVN has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $68.00 target price on shares of Devon Energy and gave the company a “buy” rating in a research note on Tuesday, January 30th. Credit Suisse Group set a $50.00 target price on shares of Devon Energy and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Cowen set a $51.00 target price on shares of Devon Energy and gave the company a “buy” rating in a research note on Thursday, January 18th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $42.00 target price on shares of Devon Energy in a research note on Tuesday, January 9th. Finally, KLR Group raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $47.11.
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About Devon Energy
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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