Janney Montgomery Scott LLC boosted its stake in shares of Devon Energy Corporation (NYSE:DVN) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 66,383 shares of the energy company’s stock after buying an additional 2,644 shares during the period. Janney Montgomery Scott LLC’s holdings in Devon Energy Corporation were worth $2,122,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Investec Asset Management LTD raised its stake in Devon Energy Corporation by 6.5% in the first quarter. Investec Asset Management LTD now owns 571,980 shares of the energy company’s stock valued at $23,863,000 after buying an additional 35,008 shares in the last quarter. Shapiro Capital Management LLC raised its stake in Devon Energy Corporation by 2.2% in the first quarter. Shapiro Capital Management LLC now owns 1,306,283 shares of the energy company’s stock valued at $54,498,000 after buying an additional 28,695 shares in the last quarter. Teachers Advisors LLC raised its stake in Devon Energy Corporation by 2.3% in the first quarter. Teachers Advisors LLC now owns 939,950 shares of the energy company’s stock valued at $39,215,000 after buying an additional 20,850 shares in the last quarter. HGK Asset Management Inc. raised its stake in Devon Energy Corporation by 7.0% in the first quarter. HGK Asset Management Inc. now owns 319,570 shares of the energy company’s stock valued at $13,332,000 after buying an additional 20,970 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Devon Energy Corporation during the first quarter valued at approximately $6,649,000. Institutional investors own 77.27% of the company’s stock.

Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year.

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

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Several analysts recently commented on DVN shares. BidaskClub lowered shares of Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Citigroup Inc. dropped their price target on shares of Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. BMO Capital Markets restated a “buy” rating and set a $45.00 price target on shares of Devon Energy Corporation in a research report on Wednesday, May 3rd. Royal Bank Of Canada set a $53.00 price target on shares of Devon Energy Corporation and gave the company a “buy” rating in a research report on Monday, May 29th. Finally, Barclays PLC restated an “overweight” rating and set a $47.00 price target (down previously from $54.00) on shares of Devon Energy Corporation in a research report on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average 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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