Stoneridge Investment Partners LLC increased its stake in shares of Devon Energy Corp. (NYSE:DVN) by 362.0% during the second quarter, Holdings Channel reports. The institutional investor owned 56,968 shares of the energy company’s stock after buying an additional 44,636 shares during the period. Stoneridge Investment Partners LLC’s holdings in Devon Energy Corp. were worth $2,065,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DVN. Aperio Group LLC boosted its stake in shares of Devon Energy Corp. by 7.4% in the first quarter. Aperio Group LLC now owns 123,863 shares of the energy company’s stock valued at $3,399,000 after buying an additional 8,559 shares in the last quarter. Commonwealth Equity Services Inc boosted its stake in shares of Devon Energy Corp. by 29.2% in the first quarter. Commonwealth Equity Services Inc now owns 34,867 shares of the energy company’s stock valued at $957,000 after buying an additional 7,884 shares in the last quarter. River Wealth Advisors LLC boosted its stake in shares of Devon Energy Corp. by 67.4% in the first quarter. River Wealth Advisors LLC now owns 30,855 shares of the energy company’s stock valued at $847,000 after buying an additional 12,423 shares in the last quarter. Factory Mutual Insurance Co. boosted its stake in shares of Devon Energy Corp. by 186.0% in the first quarter. Factory Mutual Insurance Co. now owns 1,430,000 shares of the energy company’s stock valued at $39,239,000 after buying an additional 930,000 shares in the last quarter. Finally, Sii Investments Inc. WI boosted its stake in shares of Devon Energy Corp. by 28.4% in the first quarter. Sii Investments Inc. WI now owns 14,920 shares of the energy company’s stock valued at $409,000 after buying an additional 3,304 shares in the last quarter. 75.62% of the stock is owned by institutional investors.

Shares of Devon Energy Corp. (NYSE:DVN) traded up 3.71% during midday trading on Wednesday, hitting $42.17. 4,746,622 shares of the company traded hands. The stock’s 50-day moving average is $42.46 and its 200 day moving average is $35.54. The stock’s market capitalization is $22.08 billion. Devon Energy Corp. has a 12-month low of $18.07 and a 12-month high of $48.68.

Devon Energy Corp. (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.25. The firm earned $2.49 billion during the quarter, compared to analysts’ expectations of $2.29 million. Devon Energy Corp. had a negative net margin of 114.09% and a positive return on equity of 3.62%. The business’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, analysts expect that Devon Energy Corp. will post ($0.28) earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, December 13th. Devon Energy Corp.’s dividend payout ratio is currently -0.82%.

Several analysts have recently issued reports on the stock. Citigroup Inc. cut shares of Devon Energy Corp. from a “positive” rating to a “market perform” rating in a research note on Tuesday, September 6th. They noted that the move was a valuation call. Raymond James Financial Inc. cut shares of Devon Energy Corp. from an “outperform” rating to a “market perform” rating and set a $45.84 price objective for the company. in a research note on Tuesday, September 6th. Zacks Investment Research cut shares of Devon Energy Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Argus upped their price target on shares of Devon Energy Corp. from $51.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Finally, Vetr raised shares of Devon Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $49.33 price target for the company in a research report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company’s stock. Devon Energy Corp. has an average rating of “Buy” and a consensus price target of $42.09.

Devon Energy Corp. Company Profile

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.

5 Day Chart for NYSE:DVN

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