Clinton Group Inc. bought a new stake in Devon Energy Corporation (NYSE:DVN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 23,040 shares of the energy company’s stock, valued at approximately $737,000.

A number of other hedge funds also recently bought and sold shares of DVN. BlackRock Inc. lifted its stake in Devon Energy Corporation by 3,279.8% in the first quarter. BlackRock Inc. now owns 46,398,296 shares of the energy company’s stock valued at $1,935,735,000 after buying an additional 45,025,477 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Devon Energy Corporation by 118.2% in the second quarter. Renaissance Technologies LLC now owns 4,376,500 shares of the energy company’s stock valued at $139,917,000 after buying an additional 2,370,500 shares during the last quarter. Janus Capital Management LLC lifted its stake in Devon Energy Corporation by 408.1% in the first quarter. Janus Capital Management LLC now owns 2,572,931 shares of the energy company’s stock valued at $107,342,000 after buying an additional 2,066,530 shares during the last quarter. Prudential Financial Inc. lifted its stake in Devon Energy Corporation by 66.7% in the second quarter. Prudential Financial Inc. now owns 4,365,017 shares of the energy company’s stock valued at $139,549,000 after buying an additional 1,745,977 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Devon Energy Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 43,527,746 shares of the energy company’s stock valued at $1,815,977,000 after buying an additional 1,385,334 shares during the last quarter. Institutional investors own 77.00% of the company’s stock.

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

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DVN has been the topic of a number of recent research reports. BidaskClub cut Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Citigroup Inc. cut their price objective on shares of Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Scotiabank set a $47.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Friday, August 11th. BMO Capital Markets set a $38.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, Royal Bank Of Canada set a $43.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $45.35.

Devon Energy Corporation (NYSE DVN) opened at 36.35 on Friday. The stock has a market cap of $19.11 billion, a PE ratio of 8.22 and a beta of 2.21. The company has a 50-day moving average price of $33.37 and a 200-day moving average price of $34.94. 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 released its earnings results 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 for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was up 31.6% on a year-over-year basis. Analysts anticipate that Devon Energy Corporation will post $1.73 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s payout ratio is 5.47%.

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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