River & Mercantile Asset Management LLP lowered its stake in Devon Energy Corp (NYSE:DVN) by 11.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 179,217 shares of the energy company’s stock after selling 24,048 shares during the period. River & Mercantile Asset Management LLP’s holdings in Devon Energy were worth $7,159,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in DVN. BlackRock Inc. grew its position in shares of Devon Energy by 0.5% during the 2nd quarter. BlackRock Inc. now owns 48,631,367 shares of the energy company’s stock worth $2,137,835,000 after purchasing an additional 235,109 shares in the last quarter. FMR LLC grew its position in shares of Devon Energy by 11.1% during the 2nd quarter. FMR LLC now owns 11,782,553 shares of the energy company’s stock worth $517,962,000 after purchasing an additional 1,173,389 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Devon Energy by 2.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 9,437,292 shares of the energy company’s stock worth $376,925,000 after purchasing an additional 235,596 shares in the last quarter. American Century Companies Inc. grew its position in shares of Devon Energy by 2.5% during the 3rd quarter. American Century Companies Inc. now owns 5,069,461 shares of the energy company’s stock worth $202,474,000 after purchasing an additional 125,639 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Devon Energy by 18.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,333,301 shares of the energy company’s stock worth $173,039,000 after purchasing an additional 664,206 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

A number of research analysts have issued reports on DVN shares. Zacks Investment Research upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Wednesday, October 24th. Seaport Global Securities restated a “buy” rating on shares of Devon Energy in a research report on Wednesday, October 17th. Johnson Rice upgraded shares of Devon Energy from an “accumulate” rating to a “buy” rating in a research report on Wednesday, August 15th. Jefferies Financial Group set a $52.00 target price on shares of Devon Energy and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, KLR Group restated a “buy” rating and set a $60.00 target price on shares of Devon Energy in a research report on Monday, August 20th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $47.22.

NYSE:DVN traded up $0.61 on Friday, hitting $28.36. The company had a trading volume of 146,212 shares, compared to its average volume of 7,812,079. The company has a market cap of $13.19 billion, a price-to-earnings ratio of 45.51, a PEG ratio of 1.43 and a beta of 2.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.48. Devon Energy Corp has a 52 week low of $25.87 and a 52 week high of $46.54.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 6th. The energy company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.21. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.61 billion. Devon Energy had a net margin of 16.62% and a return on equity of 6.40%. The firm’s revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 EPS. As a group, analysts expect that Devon Energy Corp will post 1.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, March 14th. Devon Energy’s payout ratio is 50.79%.

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Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

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

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