Pinebridge Investments L.P. raised its holdings in Devon Energy Corporation (NYSE:DVN) by 12,453.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 105,070 shares of the energy company’s stock after acquiring an additional 104,233 shares during the quarter. Pinebridge Investments L.P.’s holdings in Devon Energy Corporation were worth $3,359,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Investec Asset Management LTD grew its position in Devon Energy Corporation by 6.5% in the 1st quarter. Investec Asset Management LTD now owns 571,980 shares of the energy company’s stock valued at $23,863,000 after acquiring an additional 35,008 shares during the last quarter. Shapiro Capital Management LLC grew its position in shares of Devon Energy Corporation by 2.2% during the 1st quarter. Shapiro Capital Management LLC now owns 1,306,283 shares of the energy company’s stock worth $54,498,000 after buying an additional 28,695 shares in the last quarter. Teachers Advisors LLC grew its position in shares of Devon Energy Corporation by 2.3% during the 1st quarter. Teachers Advisors LLC now owns 939,950 shares of the energy company’s stock worth $39,215,000 after buying an additional 20,850 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Devon Energy Corporation by 4.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,953,530 shares of the energy company’s stock worth $62,455,000 after buying an additional 87,912 shares in the last quarter. Finally, Janus Capital Management LLC grew its position in shares of Devon Energy Corporation by 408.1% during the 1st quarter. Janus Capital Management LLC now owns 2,572,931 shares of the energy company’s stock worth $107,342,000 after buying an additional 2,066,530 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors.

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In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the transaction, the director now owns 11,338 shares in the company, valued at approximately $378,122.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s payout ratio is 5.47%.

DVN has been the topic of a number of recent research reports. BidaskClub downgraded 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 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. Scotiabank set a $47.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Friday, August 11th. BMO Capital Markets set a $38.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, August 28th. Finally, 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Devon Energy Corporation presently has an average rating of “Hold” and an average target price of $45.61.

Devon Energy Corporation Profile

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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