Capital One National Association trimmed its position in Devon Energy Corp (NYSE:DVN) by 54.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,160 shares of the energy company’s stock after selling 6,094 shares during the quarter. Capital One National Association’s holdings in Devon Energy were worth $214,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of DVN. Alyeska Investment Group L.P. increased its holdings in shares of Devon Energy by 4,117.5% in the third quarter. Alyeska Investment Group L.P. now owns 1,835,864 shares of the energy company’s stock worth $67,395,000 after purchasing an additional 1,792,334 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Devon Energy by 21.6% in the third quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock worth $204,501,000 after purchasing an additional 988,090 shares during the last quarter. Scout Investments Inc. bought a new stake in shares of Devon Energy in the third quarter worth about $32,652,000. Dimensional Fund Advisors LP increased its holdings in shares of Devon Energy by 65.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,546,068 shares of the energy company’s stock worth $56,751,000 after purchasing an additional 610,468 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Devon Energy by 301.0% in the fourth quarter. Bank of Montreal Can now owns 744,419 shares of the energy company’s stock worth $30,819,000 after purchasing an additional 558,772 shares during the last quarter. 77.65% of the stock is currently owned by hedge funds and other institutional investors.
In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.29, for a total transaction of $490,035.42. Following the completion of the transaction, the executive vice president now owns 67,900 shares in the company, valued at $2,599,891. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is owned by insiders.
DVN has been the subject of several recent research reports. Cowen set a $40.00 price target on Devon Energy and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Stephens upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research report on Thursday, November 2nd. Barclays lifted their price target on Devon Energy from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Piper Jaffray Companies reiterated a “hold” rating and issued a $38.00 price target on shares of Devon Energy in a research report on Friday, November 24th. Finally, Scotiabank set a $50.00 price target on Devon Energy and gave the stock a “buy” rating in a research report on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Devon Energy has a consensus rating of “Buy” and an average target price of $47.29.
Devon Energy Corp (NYSE:DVN) opened at $34.74 on Friday. Devon Energy Corp has a 12-month low of $28.79 and a 12-month high of $45.62. The stock has a market capitalization of $18,669.00, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 1.72 and a beta of 2.10. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.69%. Devon Energy’s dividend payout ratio (DPR) is presently 8.19%.
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About Devon Energy
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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