Virginia Retirement Systems ET AL trimmed its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,620 shares of the energy company’s stock after selling 4,437 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Devon Energy were worth $9,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in DVN. Point View Wealth Management Inc. grew its stake in Devon Energy by 1.2% during the 2nd quarter. Point View Wealth Management Inc. now owns 8,334 shares of the energy company’s stock valued at $266,000 after purchasing an additional 95 shares during the last quarter. Honkamp Krueger Financial Services Inc. grew its stake in Devon Energy by 1.4% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock valued at $225,000 after purchasing an additional 96 shares during the last quarter. Wedbush Securities Inc. grew its stake in Devon Energy by 1.1% during the 2nd quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock valued at $297,000 after purchasing an additional 99 shares during the last quarter. Kanawha Capital Management LLC grew its stake in Devon Energy by 0.3% during the 2nd quarter. Kanawha Capital Management LLC now owns 41,726 shares of the energy company’s stock valued at $1,334,000 after purchasing an additional 130 shares during the last quarter. Finally, Pillar Pacific Capital Management LLC grew its stake in Devon Energy by 0.7% during the 2nd quarter. Pillar Pacific Capital Management LLC now owns 29,810 shares of the energy company’s stock valued at $953,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DVN has been the topic of several research analyst reports. Cowen set a $40.00 price target on Devon Energy and gave the company a “buy” rating in a research note on Tuesday, October 31st. Barclays reiterated an “overweight” rating and set a $35.00 price target (up previously from $31.00) on shares of Devon Energy in a research note on Thursday, August 3rd. Piper Jaffray Companies dropped their price target on Devon Energy from $46.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, September 18th. Royal Bank Of Canada set a $43.00 price target on Devon Energy and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, Stephens upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Devon Energy presently has a consensus rating of “Buy” and a consensus target price of $46.56.

Devon Energy Corporation (NYSE:DVN) opened at $37.10 on Thursday. The stock has a market capitalization of $19,514.25, a PE ratio of 25.46, a PEG ratio of 1.16 and a beta of 2.22. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. Devon Energy Corporation has a fifty-two week low of $28.79 and a fifty-two week high of $50.69.

Devon Energy (NYSE:DVN) last issued 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 business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 EPS. sell-side analysts expect that Devon Energy Corporation will post 1.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.65%. Devon Energy’s dividend payout ratio (DPR) is presently 8.19%.

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About Devon Energy

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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