Four Tree Island Advisory LLC Acquires New Holdings in Devon Energy Co. (NYSE:DVN)

Four Tree Island Advisory LLC bought a new position in Devon Energy Co. (NYSE:DVN) in the 4th quarter, Holdings Channel.com reports. The fund bought 12,804 shares of the energy company’s stock, valued at approximately $419,000. Devon Energy comprises approximately 0.3% of Four Tree Island Advisory LLC’s investment portfolio, making the stock its 20th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of DVN. Capital Performance Advisors LLP acquired a new position in Devon Energy during the third quarter worth $35,000. True Wealth Design LLC boosted its stake in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after acquiring an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing 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 worth $50,000 after purchasing an additional 480 shares during the period. Finally, Endeavor Private Wealth Inc. acquired a new position in Devon Energy during the fourth quarter valued at approximately $52,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 0.9 %

Shares of DVN opened at $33.13 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $34.47 and a two-hundred day moving average price of $38.95. The stock has a market cap of $21.76 billion, a price-to-earnings ratio of 6.15, a P/E/G ratio of 1.04 and a beta of 1.98. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Friday, January 3rd. Mizuho lowered their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Raymond James boosted their price objective on Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Susquehanna lowered their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $49.45.

Devon Energy 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.