RFG Advisory LLC Sells 49,952 Shares of Devon Energy Corporation $DVN

RFG Advisory LLC decreased its position in shares of Devon Energy Corporation (NYSE:DVN) by 58.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,075 shares of the energy company’s stock after selling 49,952 shares during the period. RFG Advisory LLC’s holdings in Devon Energy were worth $1,230,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Caldwell Trust Co bought a new position in Devon Energy during the 2nd quarter valued at about $25,000. PFS Partners LLC bought a new stake in Devon Energy in the third quarter worth about $25,000. First Horizon Corp bought a new position in shares of Devon Energy during the third quarter valued at approximately $26,000. ORG Partners LLC grew its stake in shares of Devon Energy by 65.7% during the third quarter. ORG Partners LLC now owns 888 shares of the energy company’s stock valued at $31,000 after buying an additional 352 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Devon Energy in the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Key Stories Impacting Devon Energy

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Raymond James raised its price target to $52 and kept an “outperform” rating, signaling analyst confidence and giving upside to the stock. Raymond James raises PT to $52
• Positive Sentiment: Short interest fell ~12.6% in January to ~19.33M shares (about 3.1% of float), reducing near-term short-pressure and lowering a potential headwind from squeezes; days-to-cover is ~2.1. (Data summary provided in filings/market reports.)
• Neutral Sentiment: TD Cowen moved DVN to a “hold” rating — not bearish, but less enthusiastic than a buy — so this is unlikely to strongly change sentiment alone. TD Cowen upgrade to hold
• Neutral Sentiment: Devon is drawing investor attention on Zacks (higher user interest), which can increase volume/volatility into earnings but does not itself change fundamentals. Zacks: Devon attracting attention
• Neutral Sentiment: Reminder: Devon is scheduled to report Q4 earnings on Feb. 17, a predictable near-term catalyst that investors are positioning for. Earnings date reminder
• Negative Sentiment: Multiple previews (Zacks) show consensus expectations for a weaker Q4: EPS consensus ~$0.86 (down about 25.9% Y/Y) and revenue/earnings pressures — raising risk of a disappointment on the print. Zacks Q4 earnings preview (Feb 11) Zacks earnings preview (Feb 10)

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DVN. Wells Fargo & Company boosted their price objective on Devon Energy from $37.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. UBS Group set a $50.00 target price on shares of Devon Energy in a research note on Wednesday, February 4th. Siebert Williams Shank raised their price target on shares of Devon Energy from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Zacks Research lowered shares of Devon Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Finally, Weiss Ratings upgraded shares of Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $46.24.

Devon Energy Stock Up 3.5%

NYSE:DVN opened at $44.98 on Thursday. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $45.02. The company has a 50-day moving average of $37.97 and a 200 day moving average of $35.59. The firm has a market cap of $28.22 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87.

About Devon Energy

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.