Truist Financial Corp Purchases 11,847 Shares of Devon Energy Corporation $DVN

Truist Financial Corp increased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 35.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,456 shares of the energy company’s stock after buying an additional 11,847 shares during the quarter. Truist Financial Corp’s holdings in Devon Energy were worth $1,594,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Devon Energy by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 18,595,683 shares of the energy company’s stock valued at $589,399,000 after purchasing an additional 218,034 shares during the period. AQR Capital Management LLC boosted its stake in Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after purchasing an additional 2,802,137 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Devon Energy by 1.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,784,270 shares of the energy company’s stock worth $152,188,000 after acquiring an additional 77,433 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Devon Energy by 83.9% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock worth $145,311,000 after purchasing an additional 2,083,600 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Devon Energy by 3.7% in the second quarter. Legal & General Group Plc now owns 3,179,937 shares of the energy company’s stock valued at $101,154,000 after acquiring an additional 112,537 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on DVN shares. Mizuho set a $51.00 target price on shares of Devon Energy in a research report on Tuesday, February 3rd. The Goldman Sachs Group increased their price objective on Devon Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Susquehanna boosted their price target on shares of Devon Energy from $45.00 to $47.00 and gave the stock a “positive” rating in a research note on Tuesday, February 3rd. UBS Group set a $50.00 target price on shares of Devon Energy in a research note on Wednesday. Finally, Citigroup lifted their price objective on Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.97.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $43.88 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $27.53 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $44.00. The firm has a 50 day moving average of $37.59 and a 200 day moving average of $35.38.

Devon Energy 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.