Verity Asset Management Inc. Has $210,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Verity Asset Management Inc. decreased its stake in Devon Energy Co. (NYSE:DVN) by 44.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,187 shares of the energy company’s stock after selling 3,322 shares during the period. Verity Asset Management Inc.’s holdings in Devon Energy were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DVN. Manchester Capital Management LLC bought a new position in Devon Energy in the fourth quarter worth approximately $28,000. Tradewinds Capital Management LLC bought a new position in Devon Energy in the first quarter worth approximately $30,000. Jones Financial Companies Lllp boosted its holdings in Devon Energy by 104.8% in the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after acquiring an additional 374 shares in the last quarter. PFS Partners LLC bought a new position in Devon Energy in the fourth quarter worth approximately $36,000. Finally, LRI Investments LLC bought a new position in Devon Energy in the first quarter worth approximately $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of recent research reports. Citigroup raised their target price on Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Stifel Nicolaus raised their target price on Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Mizuho raised their target price on Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 13th. Piper Sandler raised their target price on Devon Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Finally, UBS Group raised their target price on Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.13.

Insider Transactions at Devon Energy

In other news, EVP Tana K. Cashion sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the transaction, the executive vice president now directly owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Devon Energy Stock Performance

Shares of Devon Energy stock traded down $2.27 during trading hours on Friday, reaching $42.79. The company had a trading volume of 12,250,306 shares, compared to its average volume of 6,460,859. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The business has a fifty day simple moving average of $46.83 and a 200 day simple moving average of $47.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97. The firm has a market cap of $27.04 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 0.75 and a beta of 2.07.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the company earned $1.46 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, analysts anticipate that Devon Energy Co. will post 5.4 earnings per share 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.