Sanctuary Advisors LLC Sells 60,569 Shares of Devon Energy Co. (NYSE:DVN)

Sanctuary Advisors LLC lessened its position in Devon Energy Co. (NYSE:DVN) by 16.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 317,772 shares of the energy company’s stock after selling 60,569 shares during the quarter. Sanctuary Advisors LLC’s holdings in Devon Energy were worth $11,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Devon Energy in the third quarter valued at $35,000. True Wealth Design LLC increased its stake in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares during the last quarter. Activest Wealth Management boosted its position in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares during the period. Finally, Sierra Ocean LLC purchased a new stake in Devon Energy during the fourth quarter valued at about $43,000. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on DVN. Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, January 14th. Mizuho cut their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Citigroup cut their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Cowen lowered shares of Devon Energy to a “hold” rating and cut their price target for the company from $46.00 to $45.00 in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $49.26.

Devon Energy Stock Performance

Shares of DVN opened at $34.98 on Wednesday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a 50-day simple moving average of $34.26 and a two-hundred day simple moving average of $38.41. The firm has a market capitalization of $22.98 billion, a PE ratio of 6.49, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. On average, analysts anticipate that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Devon Energy Company 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.