Schafer Cullen Capital Management Inc. decreased its holdings in Devon Energy Corporation (NYSE:DVN) by 22.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,037 shares of the energy company’s stock after selling 11,160 shares during the quarter. Schafer Cullen Capital Management Inc.’s holdings in Devon Energy Corporation were worth $1,216,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sterneck Capital Management LLC raised its position in Devon Energy Corporation by 4.5% in the 2nd quarter. Sterneck Capital Management LLC now owns 6,518 shares of the energy company’s stock valued at $208,000 after purchasing an additional 283 shares during the last quarter. Koch Industries Inc. bought a new position in Devon Energy Corporation in the 2nd quarter valued at $420,000. Wafra Investment Advisory Group Inc. NY raised its position in Devon Energy Corporation by 5.3% in the 2nd quarter. Wafra Investment Advisory Group Inc. NY now owns 367,577 shares of the energy company’s stock valued at $11,751,000 after purchasing an additional 18,614 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Devon Energy Corporation by 5.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 57,368 shares of the energy company’s stock valued at $1,834,000 after purchasing an additional 2,775 shares during the last quarter. Finally, TVR Capital Management LP raised its position in Devon Energy Corporation by 121.8% in the 2nd quarter. TVR Capital Management LP now owns 240,000 shares of the energy company’s stock valued at $7,673,000 after purchasing an additional 131,806 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Shares of Devon Energy Corporation (DVN) traded up 0.73% during midday trading on Friday, hitting $35.87. The company had a trading volume of 2,461,688 shares. Devon Energy Corporation has a one year low of $28.79 and a one year high of $50.69. The stock has a market capitalization of $18.85 billion, a price-to-earnings ratio of 8.12 and a beta of 2.21. The stock’s 50-day moving average price is $34.28 and its 200-day moving average price is $34.79.

Devon Energy Corporation (NYSE:DVN) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. Devon Energy Corporation’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period last year, the company earned $0.06 EPS. Analysts predict that Devon Energy Corporation will post $1.72 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors 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 0.67%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio is currently 5.47%.

Several equities analysts have issued reports on DVN shares. BidaskClub downgraded Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Citigroup Inc. cut 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. Scotiabank set a $47.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Friday, August 11th. Stifel Nicolaus set a $66.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, BMO Capital Markets set a $38.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, August 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $45.31.

In related news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.51% of the stock is owned by company insiders.

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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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