Bessemer Group Inc. cut its position in Devon Energy Corporation (NYSE:DVN) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,396 shares of the energy company’s stock after selling 4,647 shares during the period. Bessemer Group Inc.’s holdings in Devon Energy Corporation were worth $3,785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Exencial Wealth Advisors LLC boosted its position in 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 period. Park National Corp OH boosted its position in Devon Energy Corporation by 0.8% in the second quarter. Park National Corp OH now owns 6,779 shares of the energy company’s stock worth $217,000 after buying an additional 54 shares during the period. Honkamp Krueger Financial Services Inc. boosted its position in Devon Energy Corporation by 1.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock worth $225,000 after buying an additional 96 shares during the period. Fernwood Investment Management LLC boosted its position in 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 period. Finally, Godshalk Welsh Capital Management Inc. boosted its position in 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 period. 77.27% of the stock is owned by hedge funds and other institutional investors.

Shares of Devon Energy Corporation (NYSE DVN) opened at 32.40 on Tuesday. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69. The firm’s 50-day moving average is $31.57 and its 200-day moving average is $38.48. The firm has a market cap of $17.04 billion, a P/E ratio of 7.27 and a beta of 2.17.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.06 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.74%. Devon Energy Corporation’s dividend payout ratio (DPR) is currently 5.47%.

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A number of research firms have recently commented on DVN. Credit Suisse Group increased their target price on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, May 4th. BMO Capital Markets reissued a “buy” rating and issued a $42.00 target price on shares of Devon Energy Corporation in a report on Thursday, June 22nd. Scotiabank set a $49.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research cut shares of Devon Energy Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $38.00 target price on shares of Devon Energy Corporation in a report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $47.71.

In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $33.35, for a total value of $234,950.75. Following the transaction, the director now directly owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is owned by insiders.

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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