Piedmont Investment Advisors LLC lessened its stake in shares of Devon Energy Corporation (NYSE:DVN) by 94.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,025 shares of the energy company’s stock after selling 243,768 shares during the period. Piedmont Investment Advisors LLC’s holdings in Devon Energy Corporation were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Devon Energy Corporation by 3,279.8% during the 1st quarter. BlackRock Inc. now owns 46,398,296 shares of the energy company’s stock worth $1,935,735,000 after acquiring an additional 45,025,477 shares during the period. Vanguard Group Inc. raised its holdings in shares of Devon Energy Corporation by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock worth $1,432,998,000 after acquiring an additional 1,295,417 shares during the period. State Street Corp raised its holdings in shares of Devon Energy Corporation by 1.0% during the 2nd quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock worth $884,702,000 after acquiring an additional 265,179 shares during the period. Standard Life Investments LTD raised its holdings in shares of Devon Energy Corporation by 1.3% during the 2nd quarter. Standard Life Investments LTD now owns 6,054,868 shares of the energy company’s stock worth $193,604,000 after acquiring an additional 75,952 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Devon Energy Corporation by 0.3% during the 2nd quarter. Northern Trust Corp now owns 5,955,294 shares of the energy company’s stock worth $190,390,000 after acquiring an additional 18,861 shares during the period. Institutional investors and hedge funds own 77.00% of the company’s stock.

Several brokerages recently issued reports on DVN. Morgan Stanley boosted their price objective on shares of Devon Energy Corporation from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday. BMO Capital Markets set a $45.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Tuesday, October 10th. Jefferies Group LLC upgraded shares of Devon Energy Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Monday, October 9th. Stifel Nicolaus set a $66.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Cowen and Company restated a “buy” rating and issued a $40.00 price objective on shares of Devon Energy Corporation in a report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $45.47.

Devon Energy Corporation (NYSE DVN) opened at 34.93 on Friday. Devon Energy Corporation has a 12 month low of $28.79 and a 12 month high of $50.69. The firm has a market capitalization of $18.36 billion, a P/E ratio of 7.90 and a beta of 2.21. The stock’s 50 day moving average price is $34.88 and its 200-day moving average price is $34.58.

Devon Energy Corporation (NYSE:DVN) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The company’s revenue was up 31.6% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. On average, analysts forecast that Devon Energy Corporation will post $1.71 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.69%. Devon Energy Corporation’s payout ratio is currently 5.47%.

In related news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the sale, the director now directly owns 11,338 shares in the company, valued at approximately $378,122.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.51% of the company’s stock.

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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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