BNP Paribas Arbitrage SA increased its stake in Devon Energy Corp. (NYSE:DVN) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,200 shares of the energy company’s stock after buying an additional 4,156 shares during the period. BNP Paribas Arbitrage SA’s holdings in Devon Energy Corp. were worth $4,023,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Evercore Wealth Management LLC raised its stake in Devon Energy Corp. by 466.5% in the second quarter. Evercore Wealth Management LLC now owns 65,449 shares of the energy company’s stock valued at $2,373,000 after buying an additional 53,896 shares in the last quarter. Williams Jones & Associates LLC bought a new stake in Devon Energy Corp. during the second quarter valued at approximately $229,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Devon Energy Corp. during the second quarter valued at approximately $767,000. Kentucky Retirement Systems bought a new stake in Devon Energy Corp. during the second quarter valued at approximately $1,615,000. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in Devon Energy Corp. by 2.6% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 19,996 shares of the energy company’s stock valued at $725,000 after buying an additional 512 shares in the last quarter. Institutional investors and hedge funds own 76.35% of the company’s stock.

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

Devon Energy Corp. (NYSE:DVN) traded down 3.57% during midday trading on Monday, reaching $42.65. The company’s stock had a trading volume of 5,809,255 shares. The company has a 50 day moving average of $42.36 and a 200-day moving average of $39.80. Devon Energy Corp. has a 1-year low of $18.07 and a 1-year high of $46.57. The company’s market capitalization is $22.33 billion.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.24 annualized dividend and a yield of 0.56%. Devon Energy Corp.’s payout ratio is currently -1.28%.

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Several research firms have commented on DVN. Bank of America Corp. set a $64.00 price objective on Devon Energy Corp. and gave the stock a “buy” rating in a research report on Monday, October 10th. Vetr upgraded Devon Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $46.16 price objective on the stock in a research report on Tuesday, September 20th. Zacks Investment Research lowered Devon Energy Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Raymond James Financial Inc. lowered Devon Energy Corp. from an “outperform” rating to a “market perform” rating and set a $45.84 price objective on the stock. in a research report on Tuesday, September 6th. Finally, Citigroup Inc. downgraded Devon Energy Corp. from a “positive” rating to a “market perform” rating in a research note on Tuesday, September 6th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $42.21.

About Devon Energy Corp.

Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.

5 Day Chart for NYSE:DVN

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