Quantitative Systematic Strategies LLC reduced its stake in Devon Energy Corp (NYSE:DVN) by 50.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,924 shares of the energy company’s stock after selling 9,000 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Devon Energy were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wesbanco Bank Inc. purchased a new position in shares of Devon Energy during the fourth quarter worth approximately $257,000. Cypress Capital Management LLC WY purchased a new position in shares of Devon Energy during the fourth quarter worth approximately $182,000. Mutual of America Capital Management LLC raised its stake in shares of Devon Energy by 7.4% during the fourth quarter. Mutual of America Capital Management LLC now owns 76,811 shares of the energy company’s stock worth $3,180,000 after acquiring an additional 5,280 shares in the last quarter. BTR Capital Management Inc. raised its stake in shares of Devon Energy by 11.1% during the fourth quarter. BTR Capital Management Inc. now owns 55,055 shares of the energy company’s stock worth $2,279,000 after acquiring an additional 5,510 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Devon Energy by 10.9% during the fourth quarter. Bessemer Group Inc. now owns 213,994 shares of the energy company’s stock worth $8,859,000 after acquiring an additional 21,099 shares in the last quarter. 77.75% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Corp (NYSE:DVN) opened at $36.76 on Thursday. 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 Corp has a one year low of $28.79 and a one year high of $47.25. The company has a market cap of $20,149.50, a price-to-earnings ratio of 26.29, a P/E/G ratio of 1.89 and a beta of 2.10.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s payout ratio is 8.19%.

In related news, EVP Lyndon C. Taylor sold 12,798 shares of Devon Energy stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.29, for a total value of $490,035.42. Following the transaction, the executive vice president now directly owns 67,900 shares of the company’s stock, valued at $2,599,891. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.51% of the stock is owned by insiders.

DVN has been the topic of several research reports. Barclays reissued a “buy” rating and set a $39.00 price target on shares of Devon Energy in a research note on Sunday, December 24th. Royal Bank of Canada set a $47.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Jefferies Group set a $46.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Seaport Global Securities raised shares of Devon Energy from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Citigroup reissued a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research note on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Devon Energy has an average rating of “Buy” and an average target price of $47.72.

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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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