Pictet Asset Management Ltd. decreased its position in shares of Devon Energy Corp (NYSE:DVN) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,188 shares of the energy company’s stock after selling 22,600 shares during the quarter. Pictet Asset Management Ltd. owned about 0.06% of Devon Energy worth $10,911,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jafra Capital Management LP bought a new stake in Devon Energy during the second quarter worth $3,297,000. FMR LLC grew its holdings in Devon Energy by 11.1% during the second quarter. FMR LLC now owns 11,782,553 shares of the energy company’s stock worth $517,962,000 after buying an additional 1,173,389 shares in the last quarter. Swiss National Bank grew its holdings in Devon Energy by 8.9% during the second quarter. Swiss National Bank now owns 1,738,426 shares of the energy company’s stock worth $76,421,000 after buying an additional 142,600 shares in the last quarter. Global X Management Co LLC grew its holdings in Devon Energy by 18.9% during the second quarter. Global X Management Co LLC now owns 14,142 shares of the energy company’s stock worth $622,000 after buying an additional 2,244 shares in the last quarter. Finally, Gabelli Funds LLC grew its holdings in Devon Energy by 3.3% during the second quarter. Gabelli Funds LLC now owns 489,800 shares of the energy company’s stock worth $21,532,000 after buying an additional 15,500 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Shares of NYSE DVN opened at $27.75 on Friday. Devon Energy Corp has a one year low of $25.87 and a one year high of $46.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $13.19 billion, a PE ratio of 44.05, a PEG ratio of 1.43 and a beta of 2.26.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 6th. The energy company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.21. Devon Energy had a return on equity of 6.40% and a net margin of 16.62%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. As a group, research analysts expect that Devon Energy Corp will post 1.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.15%. Devon Energy’s dividend payout ratio is presently 50.79%.

DVN has been the subject of several recent research reports. Jefferies Financial Group set a $52.00 price target on Devon Energy and gave the stock a “buy” rating in a report on Friday, August 10th. Johnson Rice upgraded Devon Energy from an “accumulate” rating to a “buy” rating in a report on Wednesday, August 15th. Morgan Stanley decreased their price target on Devon Energy from $46.00 to $45.00 and set a “hold” rating for the company in a report on Thursday, August 16th. Piper Jaffray Companies reiterated a “hold” rating and set a $52.00 price target on shares of Devon Energy in a report on Thursday, August 16th. Finally, KLR Group reiterated a “buy” rating and set a $60.00 price target on shares of Devon Energy in a report on Monday, August 20th. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $47.22.

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Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

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

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