Systematic Financial Management LP trimmed its stake in shares of Devon Energy Corporation (NYSE:DVN) by 12.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,405 shares of the energy company’s stock after selling 16,473 shares during the period. Systematic Financial Management LP’s holdings in Devon Energy Corporation were worth $3,689,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in Devon Energy Corporation during the first quarter valued at approximately $116,000. Henderson Group PLC grew its position in Devon Energy Corporation by 1.6% during the first quarter. Henderson Group PLC now owns 62,469 shares of the energy company’s stock valued at $2,607,000 after buying an additional 1,000 shares during the period. Elkfork Partners LLC grew its position in Devon Energy Corporation by 25.5% during the first quarter. Elkfork Partners LLC now owns 13,112 shares of the energy company’s stock valued at $547,000 after buying an additional 2,662 shares during the period. Bank of New York Mellon Corp grew its position in Devon Energy Corporation by 36.6% during the first quarter. Bank of New York Mellon Corp now owns 6,311,065 shares of the energy company’s stock valued at $263,297,000 after buying an additional 1,690,260 shares during the period. Finally, Suntrust Banks Inc. grew its position in Devon Energy Corporation by 12.2% during the first quarter. Suntrust Banks Inc. now owns 154,254 shares of the energy company’s stock valued at $6,434,000 after buying an additional 16,726 shares during the period. 77.00% of the stock is owned by hedge funds and other institutional investors.

Shares of Devon Energy Corporation (DVN) opened at 32.17 on Wednesday. The stock has a market cap of $16.91 billion, a P/E ratio of 7.28 and a beta of 2.18. The stock has a 50 day moving average of $31.83 and a 200 day moving average of $35.71. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69.

Devon Energy Corporation (NYSE:DVN) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the company posted $0.06 EPS. The firm’s quarterly revenue was up 31.6% on a year-over-year basis. On average, analysts expect that Devon Energy Corporation will post $1.74 earnings per share for the current year.

In other news, Director Robert H. Henry sold 7,045 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $33.35, for a total transaction of $234,950.75. Following the transaction, the director now owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.98% of the company’s stock.

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Several analysts recently issued reports on DVN shares. Barclays PLC restated a “buy” rating and set a $31.00 target price on shares of Devon Energy Corporation in a research report on Friday, July 7th. Scotiabank set a $49.00 target price on shares of Devon Energy Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets restated a “buy” rating and set a $42.00 target price on shares of Devon Energy Corporation in a research report on Thursday, June 22nd. Stifel Nicolaus restated a “buy” rating and set a $74.00 target price on shares of Devon Energy Corporation in a research report on Tuesday, June 6th. Finally, Royal Bank Of Canada set a $53.00 target price on shares of Devon Energy Corporation and gave the company a “buy” rating in a research report on Monday, May 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $46.27.

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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