BTR Capital Management Inc. reduced its position in shares of Devon Energy Corp. (NYSE:DVN) by 3.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,666 shares of the energy company’s stock after selling 2,715 shares during the period. BTR Capital Management Inc.’s holdings in Devon Energy Corp. were worth $3,338,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Retirement Systems of Alabama boosted its stake in Devon Energy Corp. by 49.2% in the second quarter. Retirement Systems of Alabama now owns 390,482 shares of the energy company’s stock worth $14,155,000 after buying an additional 128,792 shares during the period. Guinness Asset Management Ltd boosted its stake in Devon Energy Corp. by 0.7% in the second quarter. Guinness Asset Management Ltd now owns 307,076 shares of the energy company’s stock worth $11,132,000 after buying an additional 2,000 shares during the period. Standard Life Investments LTD acquired a new stake in Devon Energy Corp. during the second quarter worth approximately $46,082,000. Beck Mack & Oliver LLC boosted its stake in Devon Energy Corp. by 0.7% in the second quarter. Beck Mack & Oliver LLC now owns 861,192 shares of the energy company’s stock worth $31,219,000 after buying an additional 6,088 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in Devon Energy Corp. by 4.8% in the third quarter. BNP Paribas Arbitrage SA now owns 91,200 shares of the energy company’s stock worth $4,023,000 after buying an additional 4,156 shares during the period. Institutional investors and hedge funds own 76.35% of the company’s stock.

Institutional Ownership by Quarter for Devon Energy Corp. (NYSE:DVN)

Devon Energy Corp. (NYSE:DVN) traded down 1.15% on Tuesday, reaching $42.16. The company had a trading volume of 7,671,511 shares. The stock has a 50 day moving average of $42.36 and a 200 day moving average of $39.99. The firm’s market capitalization is $22.07 billion. Devon Energy Corp. has a 12 month low of $18.07 and a 12 month high of $46.52.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, December 13th. Devon Energy Corp.’s dividend payout ratio is presently -1.28%.

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Several analysts recently commented on DVN shares. Vetr upgraded Devon Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $46.16 price target for the company in a research report on Tuesday, September 20th. Argus boosted their price target on Devon Energy Corp. from $51.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Bank of America Corp. set a $64.00 price target on Devon Energy Corp. and gave the stock a “buy” rating in a research report on Monday, October 10th. Barclays PLC boosted their price target on Devon Energy Corp. from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, September 1st. Finally, Zacks Investment Research upgraded Devon Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a research report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $42.21.

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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