Schwab Charles Investment Management Inc. raised its stake in shares of Devon Energy Corporation (NYSE:DVN) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,953,530 shares of the energy company’s stock after buying an additional 87,912 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.37% of Devon Energy Corporation worth $62,455,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in DVN. Park National Corp OH raised its stake 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 valued at $217,000 after buying an additional 54 shares during the last quarter. Honkamp Krueger Financial Services Inc. raised its stake 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 valued at $225,000 after buying an additional 96 shares during the last quarter. Fernwood Investment Management LLC raised its stake 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 valued at $300,000 after buying an additional 100 shares during the last quarter. Godshalk Welsh Capital Management Inc. raised its stake 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 valued at $420,000 after buying an additional 100 shares during the last quarter. Finally, Cleararc Capital Inc. raised its stake in Devon Energy Corporation by 0.9% in the first quarter. Cleararc Capital Inc. now owns 12,835 shares of the energy company’s stock valued at $535,000 after buying an additional 109 shares during the last quarter. 77.00% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Corporation (NYSE DVN) opened at 30.99 on Wednesday. The stock’s 50 day moving average price is $31.66 and its 200-day moving average price is $36.76. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69. The company has a market capitalization of $16.29 billion, a P/E ratio of 7.01 and a beta of 2.17.

Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the business posted $0.06 EPS. Devon Energy Corporation’s quarterly revenue was up 31.6% on a year-over-year basis. Analysts predict that Devon Energy Corporation will post $1.75 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.77%. The ex-dividend date is Thursday, September 14th. Devon Energy Corporation’s payout ratio is currently 5.47%.

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Several equities research analysts recently issued reports on DVN shares. 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. 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. 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 lowered 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 $31.00 target price (down from $35.00) on shares of Devon Energy Corporation in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $45.95.

In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the transaction, the director now owns 11,338 shares of the company’s stock, valued at $378,122.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.98% of the company’s stock.

Devon Energy Corporation Company Profile

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).

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

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