Ally Financial Inc. maintained its stake in Devon Energy Corporation (NYSE:DVN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,000 shares of the energy company’s stock at the close of the second quarter. Ally Financial Inc.’s holdings in Devon Energy Corporation were worth $1,439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Virtu KCG Holdings LLC lifted its holdings in shares of Devon Energy Corporation by 128.2% during the second quarter. Virtu KCG Holdings LLC now owns 63,212 shares of the energy company’s stock valued at $2,021,000 after acquiring an additional 35,517 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Devon Energy Corporation by 118.2% during the second quarter. Renaissance Technologies LLC now owns 4,376,500 shares of the energy company’s stock valued at $139,917,000 after acquiring an additional 2,370,500 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Devon Energy Corporation by 77.2% during the second quarter. Parametric Portfolio Associates LLC now owns 1,214,593 shares of the energy company’s stock valued at $38,831,000 after acquiring an additional 529,315 shares during the period. Advisor Group Inc. lifted its holdings in shares of Devon Energy Corporation by 13.8% during the second quarter. Advisor Group Inc. now owns 27,413 shares of the energy company’s stock valued at $763,000 after acquiring an additional 3,323 shares during the period. Finally, Cibc World Markets Corp lifted its holdings in shares of Devon Energy Corporation by 222.5% during the second quarter. Cibc World Markets Corp now owns 204,138 shares of the energy company’s stock valued at $6,526,000 after acquiring an additional 140,845 shares during the period. 77.00% of the stock is owned by institutional investors.

A number of research firms recently issued reports on DVN. Royal Bank Of Canada set a $53.00 price target on Devon Energy Corporation and gave the company a “buy” rating in a report on Monday, May 29th. BidaskClub raised Devon Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. BMO Capital Markets set a $38.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, August 28th. Citigroup Inc. lowered their price objective on Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Finally, Stifel Nicolaus set a $61.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $45.61.

In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corporation stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the sale, the director now owns 11,338 shares of the company’s stock, valued at $378,122.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.51% 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 EPS for the quarter, topping 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 analysts’ expectations of $3.24 billion. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 31.6% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is currently 5.47%.

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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).

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

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