Brown Advisory Inc. reduced its position in shares of Devon Energy Corporation (NYSE:DVN) by 11.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,094 shares of the energy company’s stock after selling 2,307 shares during the period. Brown Advisory Inc.’s holdings in Devon Energy were worth $664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Strs Ohio raised its position in Devon Energy by 6.3% in the second quarter. Strs Ohio now owns 14,778 shares of the energy company’s stock worth $472,000 after acquiring an additional 882 shares during the period. Korea Investment CORP raised its position in Devon Energy by 34.7% in the second quarter. Korea Investment CORP now owns 152,074 shares of the energy company’s stock worth $4,862,000 after acquiring an additional 39,167 shares during the period. HL Financial Services LLC raised its position in Devon Energy by 11.6% in the second quarter. HL Financial Services LLC now owns 11,234 shares of the energy company’s stock worth $359,000 after acquiring an additional 1,165 shares during the period. Pioneer Investment Management Inc. raised its position in Devon Energy by 96.9% in the second quarter. Pioneer Investment Management Inc. now owns 395,314 shares of the energy company’s stock worth $12,638,000 after acquiring an additional 194,496 shares during the period. Finally, Global X Management Co. LLC raised its position in Devon Energy by 12.5% in the second quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after acquiring an additional 503 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Shares of Devon Energy Corporation (NYSE:DVN) opened at $38.05 on Friday. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market cap of $19,976.25, a P/E ratio of 26.06, a PEG ratio of 1.20 and a beta of 2.21.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. sell-side analysts expect that Devon Energy Corporation will post 1.77 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s dividend payout ratio (DPR) is currently 8.19%.

Several brokerages have commented on DVN. Stifel Nicolaus reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Devon Energy in a research report on Sunday, September 3rd. Citigroup reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Devon Energy in a research report on Tuesday, November 28th. BMO Capital Markets set a $45.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research report on Tuesday, October 10th. BidaskClub lowered shares of Devon Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Finally, Jefferies Group raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.56.

ILLEGAL ACTIVITY WARNING: This article was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/12/10/devon-energy-corporation-dvn-position-decreased-by-brown-advisory-inc.html.

About Devon Energy

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 (NYSE:DVN)

Receive News & Stock Ratings for Devon Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy Corporation and related stocks with our FREE daily email newsletter.