Algert Global LLC purchased a new position in Devon Energy Corporation (NYSE:DVN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 72,228 shares of the energy company’s stock, valued at approximately $2,309,000.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Devon Energy Corporation by 3,279.8% in the first quarter. BlackRock Inc. now owns 46,398,296 shares of the energy company’s stock worth $1,935,735,000 after buying an additional 45,025,477 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Devon Energy Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 43,527,746 shares of the energy company’s stock worth $1,815,977,000 after buying an additional 1,385,334 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Devon Energy Corporation by 3.3% in the first quarter. Artisan Partners Limited Partnership now owns 8,077,398 shares of the energy company’s stock worth $336,989,000 after buying an additional 255,610 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Devon Energy Corporation by 36.6% in the first quarter. Bank of New York Mellon Corp now owns 6,311,065 shares of the energy company’s stock worth $263,297,000 after buying an additional 1,690,260 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Devon Energy Corporation by 16.7% in the first quarter. Geode Capital Management LLC now owns 5,496,960 shares of the energy company’s stock worth $229,034,000 after buying an additional 786,562 shares in the last quarter. 77.27% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Corporation (DVN) opened at 33.66 on Monday. The company has a market capitalization of $17.71 billion, a price-to-earnings ratio of 7.55 and a beta of 2.17. The company’s 50-day moving average price is $31.57 and its 200 day moving average price is $38.48. Devon Energy Corporation has a 12 month low of $28.79 and a 12 month high of $50.69.

Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. Analysts forecast that Devon Energy Corporation will post $1.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, September 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is 5.47%.

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A number of equities research analysts recently issued reports on DVN shares. Barclays PLC reissued an “overweight” rating and set a $35.00 price target (up previously from $31.00) on shares of Devon Energy Corporation in a research report on Thursday. Royal Bank Of Canada set a $53.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, May 29th. BidaskClub upgraded Devon Energy Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Bank of America Corporation restated a “buy” rating on shares of Devon Energy Corporation in a research note on Thursday, May 11th. Finally, Piper Jaffray Companies initiated coverage on Devon Energy Corporation in a research note on Monday, July 17th. They set a “neutral” rating and a $48.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Devon Energy Corporation presently has an average rating of “Buy” and a consensus price target of $47.71.

About Devon Energy Corporation

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

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