Comerica Bank reduced its stake in shares of Devon Energy Corporation (NYSE:DVN) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,930 shares of the energy company’s stock after selling 4,379 shares during the period. Comerica Bank’s holdings in Devon Energy Corporation were worth $5,553,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DVN. Exencial Wealth Advisors LLC increased 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 valued at $511,000 after buying an additional 46 shares in the last quarter. Park National Corp OH increased its stake in shares of 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 valued at $217,000 after buying an additional 54 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its stake in shares of 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 valued at $225,000 after buying an additional 96 shares in the last quarter. Wedbush Securities Inc. increased its stake in shares of Devon Energy Corporation by 1.1% in the second quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock valued at $297,000 after buying an additional 99 shares in the last quarter. Finally, Fernwood Investment Management LLC increased 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 valued at $300,000 after buying an additional 100 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

Devon Energy Corporation (NYSE:DVN) opened at 30.98 on Thursday. 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 $31.63 and its 200-day moving average is $36.90. The company has a market cap of $16.28 billion, a PE ratio of 7.01 and a beta of 2.17.

Devon Energy Corporation (NYSE:DVN) last released 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. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the company earned $0.06 EPS. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. On average, analysts expect that Devon Energy Corporation will post $1.74 EPS for the current fiscal 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 0.77%. Devon Energy Corporation’s dividend payout ratio is presently 5.47%.

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Several brokerages have recently issued reports on DVN. BMO Capital Markets reaffirmed a “buy” rating and issued a $42.00 price target on shares of Devon Energy Corporation in a research report on Thursday, June 22nd. Credit Suisse Group raised their price target on Devon Energy Corporation from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, May 4th. Scotiabank set a $49.00 price target on Devon Energy Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. Zacks Investment Research downgraded Devon Energy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 price target on shares of Devon Energy Corporation in a research report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Devon Energy Corporation currently has a consensus rating of “Buy” and an average target price of $46.95.

In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $33.35, for a total value of $234,950.75. Following the completion of the transaction, the director now owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The transaction was disclosed in a filing with the SEC, which is available through this link. 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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