Investors sold shares of Devon Energy Corp. (NYSE:DVN) on strength during trading on Tuesday. $49.46 million flowed into the stock on the tick-up and $63.95 million flowed out of the stock on the tick-down, for a money net flow of $14.49 million out of the stock. Of all equities tracked, Devon Energy Corp. had the 0th highest net out-flow for the day. Devon Energy Corp. traded up $0.51 for the day and closed at $42.47

DVN has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Devon Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday. Bank of America Corp. reissued a “buy” rating and issued a $60.00 price objective (up from $56.00) on shares of Devon Energy Corp. in a research report on Tuesday. Barclays PLC increased their price objective on shares of Devon Energy Corp. from $38.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, July 14th. Deutsche Bank AG reissued a “buy” rating on shares of Devon Energy Corp. in a research report on Sunday, July 17th. Finally, KLR Group lowered shares of Devon Energy Corp. from a “buy” rating to an “accumulate” rating and increased their price objective for the stock from $41.00 to $44.00 in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. Devon Energy Corp. has a consensus rating of “Buy” and a consensus price target of $41.56.

The company’s market capitalization is $22.24 billion. The company has a 50 day moving average price of $38.16 and a 200-day moving average price of $31.74.

Devon Energy Corp. (NYSE:DVN) last issued its earnings results on Tuesday, August 2nd. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.25. The company earned $2.49 billion during the quarter, compared to analyst estimates of $2.29 million. The company’s quarterly revenue was down 26.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. Equities analysts forecast that Devon Energy Corp. will post ($0.27) EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Tuesday, September 13th.

In other news, Director Robert H. Henry sold 7,100 shares of the company’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of $37.43, for a total value of $265,753.00. Following the completion of the transaction, the director now owns 9,748 shares in the company, valued at approximately $364,867.64. The sale was disclosed in a document filed with the SEC, which is available at this link.

Other hedge funds have modified their holdings of the company. Mutual of America Capital Management LLC boosted its stake in shares of Devon Energy Corp. by 0.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 43,317 shares of the energy company’s stock worth $1,386,000 after buying an additional 390 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Devon Energy Corp. by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 508,717 shares of the energy company’s stock worth $16,279,000 after buying an additional 14,361 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in shares of Devon Energy Corp. by 5.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 51,749 shares of the energy company’s stock worth $1,656,000 after buying an additional 2,802 shares in the last quarter. Advantus Capital Management Inc boosted its stake in shares of Devon Energy Corp. by 3.0% in the fourth quarter. Advantus Capital Management Inc now owns 37,236 shares of the energy company’s stock worth $1,192,000 after buying an additional 1,078 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its stake in shares of Devon Energy Corp. by 15.3% in the fourth quarter. Suntrust Banks Inc. now owns 85,745 shares of the energy company’s stock worth $2,742,000 after buying an additional 11,379 shares in the last quarter.

Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.

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