ING Groep NV reduced its stake in Devon Energy Corporation (NYSE:DVN) by 19.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 385,332 shares of the energy company’s stock after selling 91,575 shares during the quarter. ING Groep NV owned about 0.07% of Devon Energy Corporation worth $14,146,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. D.A. Davidson & CO. lifted its position in shares of Devon Energy Corporation by 6.5% in the third quarter. D.A. Davidson & CO. now owns 36,235 shares of the energy company’s stock valued at $1,330,000 after acquiring an additional 2,203 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Devon Energy Corporation by 5.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,669 shares of the energy company’s stock valued at $4,760,000 after acquiring an additional 6,497 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in shares of Devon Energy Corporation by 715.5% in the third quarter. Chartwell Investment Partners LLC now owns 187,565 shares of the energy company’s stock valued at $6,885,000 after acquiring an additional 164,565 shares in the last quarter. Hawkins Capital L.P. purchased a new stake in shares of Devon Energy Corporation in the third quarter valued at $220,000. Finally, Ninepoint Partners LP purchased a new stake in shares of Devon Energy Corporation in the third quarter valued at $6,241,000. Institutional investors and hedge funds own 77.13% of the company’s stock.

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Several research firms recently weighed in on DVN. Morgan Stanley increased their target price on Devon Energy Corporation from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. BMO Capital Markets set a $38.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, August 28th. Royal Bank Of Canada set a $43.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Stifel Nicolaus set a $61.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, BidaskClub downgraded Devon Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $46.06.

Devon Energy Corporation (NYSE:DVN) traded up $0.27 during trading hours on Wednesday, reaching $37.82. The company’s stock had a trading volume of 1,218,774 shares, compared to its average volume of 4,787,886. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The company has a market cap of $19,640.25, a P/E ratio of 25.62, a PEG ratio of 1.16 and a beta of 2.22.

Devon Energy Corporation (NYSE:DVN) last released its earnings results on Tuesday, October 31st. The energy company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Devon Energy Corporation had a return on equity of 6.88% and a net margin of 11.62%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the business posted $1.89 EPS. Devon Energy Corporation’s quarterly revenue was up 9.5% compared to the same quarter last year. analysts anticipate that Devon Energy Corporation will post 1.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio is presently 8.19%.

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).

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

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