UBS Asset Management Americas Inc. increased its position in shares of Devon Energy Corporation (NYSE:DVN) by 8.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,527,915 shares of the energy company’s stock after purchasing an additional 124,971 shares during the period. UBS Asset Management Americas Inc. owned 0.29% of Devon Energy Corporation worth $48,847,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of DVN. Fifth Third Bancorp grew its stake in shares of Devon Energy Corporation by 10.4% during the first quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock worth $110,000 after purchasing an additional 248 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of Devon Energy Corporation during the second quarter worth $144,000. Global X Management Co. LLC grew its stake in shares of Devon Energy Corporation by 12.5% during the second quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after purchasing an additional 503 shares in the last quarter. Exane Derivatives grew its stake in shares of Devon Energy Corporation by 36.0% during the second quarter. Exane Derivatives now owns 5,650 shares of the energy company’s stock worth $181,000 after purchasing an additional 1,497 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new position in shares of Devon Energy Corporation during the second quarter worth $184,000. Hedge funds and other institutional investors own 77.00% of the company’s stock.

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Devon Energy Corporation (NYSE DVN) opened at 35.78 on Monday. The company’s 50-day moving average is $31.92 and its 200 day moving average is $35.28. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69. The stock has a market capitalization of $18.81 billion, a PE ratio of 8.10 and a beta of 2.18.

Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating 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 business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the business posted $0.06 EPS. The company’s quarterly revenue was up 31.6% on a year-over-year basis. On average, analysts predict that Devon Energy Corporation will post $1.73 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is presently 5.47%.

A number of brokerages recently commented on DVN. Scotiabank set a $49.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Saturday, July 1st. BMO Capital Markets boosted their price target on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. Zacks Investment Research cut shares of Devon Energy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. Sanford C. Bernstein cut shares of Devon Energy Corporation from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $54.00 to $33.00 in a research report on Thursday, July 6th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $43.00 price target on shares of Devon Energy Corporation in a research report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Devon Energy Corporation currently has an average rating of “Hold” and a consensus price target of $45.61.

In other news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corporation stock in a transaction dated 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 directly owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.51% of the company’s stock.

Devon Energy Corporation 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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