Paragon Capital Management LLC reduced its position in Devon Energy Corporation (NYSE:DVN) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 155,326 shares of the energy company’s stock after selling 2,591 shares during the quarter. Devon Energy makes up about 1.9% of Paragon Capital Management LLC’s holdings, making the stock its 25th largest position. Paragon Capital Management LLC’s holdings in Devon Energy were worth $5,702,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Sun Life Financial INC grew its position in shares of Devon Energy by 32,058.3% in the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock valued at $123,000 after purchasing an additional 3,847 shares in the last quarter. FNY Managed Accounts LLC purchased a new position in shares of Devon Energy in the third quarter valued at $134,000. Fiduciary Trust Co. purchased a new position in shares of Devon Energy in the second quarter valued at $144,000. Global X Management Co. LLC grew its position in shares of Devon Energy by 12.5% in the second quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock valued at $145,000 after purchasing an additional 503 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co grew its position in shares of Devon Energy by 67.6% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock valued at $182,000 after purchasing an additional 2,300 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Shares of Devon Energy Corporation (DVN) opened at $37.17 on Wednesday. The stock has a market capitalization of $19,965.75, a price-to-earnings ratio of 26.05, a P/E/G ratio of 1.17 and a beta of 2.22. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. equities analysts expect that Devon Energy Corporation will post 1.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors 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 0.65%. The ex-dividend date is Thursday, December 14th. Devon Energy’s dividend payout ratio is 8.19%.

Several equities analysts have recently weighed in on DVN shares. Barclays reiterated an “overweight” rating and issued a $35.00 price target (up from $31.00) on shares of Devon Energy in a research report on Thursday, August 3rd. Scotiabank set a $47.00 price target on Devon Energy and gave the company a “buy” rating in a research report on Friday, August 11th. BidaskClub cut Devon Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Cowen reiterated a “buy” rating and issued a $37.00 price target on shares of Devon Energy in a research report on Tuesday, August 22nd. Finally, Royal Bank Of Canada set a $43.00 price target on Devon Energy and gave the company a “buy” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $46.56.

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Devon Energy Company 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 (NYSE:DVN)

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