Caprock Group LLC Takes Position in Devon Energy Corporation $DVN

Caprock Group LLC acquired a new stake in Devon Energy Corporation (NYSE:DVN) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 52,909 shares of the energy company’s stock, valued at approximately $1,910,000.

Several other hedge funds have also recently bought and sold shares of the stock. Yousif Capital Management LLC boosted its holdings in shares of Devon Energy by 0.4% in the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after buying an additional 321 shares during the period. ORG Partners LLC lifted its position in Devon Energy by 65.7% in the 3rd quarter. ORG Partners LLC now owns 888 shares of the energy company’s stock valued at $31,000 after acquiring an additional 352 shares in the last quarter. MAI Capital Management increased its holdings in Devon Energy by 2.3% during the 2nd quarter. MAI Capital Management now owns 17,647 shares of the energy company’s stock worth $561,000 after purchasing an additional 395 shares in the last quarter. IHT Wealth Management LLC increased its holdings in Devon Energy by 1.6% during the 2nd quarter. IHT Wealth Management LLC now owns 24,904 shares of the energy company’s stock worth $792,000 after purchasing an additional 399 shares in the last quarter. Finally, M.E. Allison & CO. Inc. raised its stake in shares of Devon Energy by 6.0% in the 3rd quarter. M.E. Allison & CO. Inc. now owns 7,063 shares of the energy company’s stock valued at $248,000 after purchasing an additional 400 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Scotiabank upped their price target on Devon Energy from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company raised their price target on shares of Devon Energy from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Piper Sandler cut their price objective on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Finally, UBS Group set a $50.00 target price on shares of Devon Energy in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.24.

Devon Energy Stock Up 1.5%

Devon Energy stock opened at $44.63 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. The company’s 50-day moving average is $38.24 and its 200-day moving average is $35.72. The firm has a market capitalization of $28.00 billion, a PE ratio of 10.50, a P/E/G ratio of 3.91 and a beta of 0.61. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $45.02.

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.