Artisan Partners Limited Partnership lowered its stake in shares of Devon Energy Corporation (NYSE:DVN) by 2.1% during the fourth quarter, Holdings Channel reports. The firm owned 7,821,788 shares of the energy company’s stock after selling 164,122 shares during the period. Artisan Partners Limited Partnership’s holdings in Devon Energy Corporation were worth $357,221,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Steinberg Global Asset Management raised its stake in shares of Devon Energy Corporation by 0.9% in the second quarter. Steinberg Global Asset Management now owns 8,756 shares of the energy company’s stock valued at $317,000 after buying an additional 79 shares during the period. Geneva Advisors LLC raised its stake in shares of Devon Energy Corporation by 0.8% in the third quarter. Geneva Advisors LLC now owns 11,420 shares of the energy company’s stock valued at $504,000 after buying an additional 89 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Devon Energy Corporation by 1.2% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 8,756 shares of the energy company’s stock valued at $317,000 after buying an additional 100 shares during the period. Peachtree Investment Advisors Inc. raised its stake in shares of Devon Energy Corporation by 0.5% in the third quarter. Peachtree Investment Advisors Inc. now owns 19,605 shares of the energy company’s stock valued at $865,000 after buying an additional 100 shares during the period. Finally, Private Bank & Trust Co. raised its stake in shares of Devon Energy Corporation by 0.7% in the third quarter. Private Bank & Trust Co. now owns 15,300 shares of the energy company’s stock valued at $675,000 after buying an additional 100 shares during the period. Institutional investors own 77.18% of the company’s stock.

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

Shares of Devon Energy Corporation (NYSE:DVN) opened at 44.11 on Friday. The company has a 50-day moving average of $46.08 and a 200 day moving average of $43.91. Devon Energy Corporation has a 12 month low of $18.07 and a 12 month high of $50.69. The company’s market cap is $23.07 billion.

Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 14th. The energy company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Devon Energy Corporation had a negative net margin of 69.59% and a positive return on equity of 1.48%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.77 EPS. On average, analysts anticipate that Devon Energy Corporation will post $1.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, March 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.54%. Devon Energy Corporation’s payout ratio is -1.28%.

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Several analysts recently issued reports on the stock. Societe Generale lowered shares of Devon Energy Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, November 30th. Jefferies Group LLC lowered shares of Devon Energy Corporation from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a research report on Tuesday, January 17th. Zacks Investment Research upgraded shares of Devon Energy Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Tuesday, January 3rd. RBC Capital Markets restated a “buy” rating and set a $54.00 target price on shares of Devon Energy Corporation in a research report on Tuesday, January 3rd. Finally, Credit Suisse Group restated a “buy” rating and set a $55.00 target price on shares of Devon Energy Corporation in a research report on Thursday. Thirteen analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company. Devon Energy Corporation presently has a consensus rating of “Buy” and a consensus target price of $46.13.

About Devon Energy Corporation

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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