Oppenheimer & Co. Inc. Lowers Holdings in Devon Energy Corporation $DVN

Oppenheimer & Co. Inc. trimmed its stake in shares of Devon Energy Corporation (NYSE:DVN) by 14.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,816 shares of the energy company’s stock after selling 24,110 shares during the period. Oppenheimer & Co. Inc.’s holdings in Devon Energy were worth $5,007,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Caldwell Trust Co purchased a new stake in Devon Energy in the 2nd quarter worth approximately $25,000. PFS Partners LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at $25,000. First Horizon Corp acquired a new position in shares of Devon Energy in the 3rd quarter valued at $26,000. ORG Partners LLC boosted its holdings in Devon Energy by 65.7% during the third quarter. ORG Partners LLC now owns 888 shares of the energy company’s stock worth $31,000 after buying an additional 352 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Devon Energy during the second quarter valued at $34,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DVN shares. JPMorgan Chase & Co. decreased their price objective on shares of Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Piper Sandler cut their price target on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Sanford C. Bernstein lowered their price target on Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Raymond James Financial raised their price objective on Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Barclays raised Devon Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $42.00 to $50.00 in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.24.

Devon Energy News Roundup

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Raymond James raised its price target to $52 and kept an “outperform” rating, signaling analyst confidence and giving upside to the stock. Raymond James raises PT to $52
• Positive Sentiment: Short interest fell ~12.6% in January to ~19.33M shares (about 3.1% of float), reducing near-term short-pressure and lowering a potential headwind from squeezes; days-to-cover is ~2.1. (Data summary provided in filings/market reports.)
• Neutral Sentiment: TD Cowen moved DVN to a “hold” rating — not bearish, but less enthusiastic than a buy — so this is unlikely to strongly change sentiment alone. TD Cowen upgrade to hold
• Neutral Sentiment: Devon is drawing investor attention on Zacks (higher user interest), which can increase volume/volatility into earnings but does not itself change fundamentals. Zacks: Devon attracting attention
• Neutral Sentiment: Reminder: Devon is scheduled to report Q4 earnings on Feb. 17, a predictable near-term catalyst that investors are positioning for. Earnings date reminder
• Negative Sentiment: Multiple previews (Zacks) show consensus expectations for a weaker Q4: EPS consensus ~$0.86 (down about 25.9% Y/Y) and revenue/earnings pressures — raising risk of a disappointment on the print. Zacks Q4 earnings preview (Feb 11) Zacks earnings preview (Feb 10)

Devon Energy Price Performance

Shares of Devon Energy stock opened at $44.98 on Thursday. The stock has a market capitalization of $28.22 billion, a P/E ratio of 10.58, a PEG ratio of 3.80 and a beta of 0.61. The business has a 50 day simple moving average of $37.97 and a two-hundred day simple moving average of $35.59. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month 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.

Devon Energy Company Profile

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.