Cpcm LLC lowered its stake in shares of Devon Energy Corporation (NYSE:DVN) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,704 shares of the energy company’s stock after selling 3,987 shares during the period. Cpcm LLC’s holdings in Devon Energy Corporation were worth $1,740,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in DVN. Exencial Wealth Advisors LLC raised its stake in shares of Devon Energy Corporation by 0.4% in the first quarter. Exencial Wealth Advisors LLC now owns 13,021 shares of the energy company’s stock worth $511,000 after buying an additional 46 shares during the last quarter. Fernwood Investment Management LLC raised its stake in shares of Devon Energy Corporation by 1.4% in the first quarter. Fernwood Investment Management LLC now owns 7,200 shares of the energy company’s stock worth $300,000 after buying an additional 100 shares during the last quarter. Godshalk Welsh Capital Management Inc. raised its stake in shares of Devon Energy Corporation by 1.0% in the first quarter. Godshalk Welsh Capital Management Inc. now owns 10,075 shares of the energy company’s stock worth $420,000 after buying an additional 100 shares during the last quarter. Cleararc Capital Inc. raised its stake in shares of Devon Energy Corporation by 0.9% in the first quarter. Cleararc Capital Inc. now owns 12,835 shares of the energy company’s stock worth $535,000 after buying an additional 109 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. raised its stake in shares of Devon Energy Corporation by 1.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 6,952 shares of the energy company’s stock worth $290,000 after buying an additional 120 shares during the last quarter. 77.22% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Corporation (NYSE DVN) traded up 4.31% during trading on Friday, reaching $33.66. 7,148,390 shares of the company’s stock traded hands. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The stock has a market capitalization of $17.71 billion, a P/E ratio of 7.55 and a beta of 2.17. The stock has a 50-day moving average price of $31.57 and a 200 day moving average price of $38.48.

Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the firm posted $0.06 EPS. The firm’s quarterly revenue was up 31.6% on a year-over-year basis. Equities research analysts expect that Devon Energy Corporation will post $1.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, September 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is 5.47%.

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A number of brokerages have issued reports on DVN. Barclays PLC reissued an “overweight” rating and issued a $35.00 target price (up previously from $31.00) on shares of Devon Energy Corporation in a research report on Thursday. Scotiabank set a $49.00 target price on Devon Energy Corporation and gave the company a “buy” rating in a research report on Monday, July 31st. BidaskClub lowered Devon Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Citigroup Inc. cut their target price on Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $43.00 target price on shares of Devon Energy Corporation in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $47.71.

About Devon Energy Corporation

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).

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

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