Devon Energy Corp (DVN) Stake Lowered by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL trimmed its position in shares of Devon Energy Corp (NYSE:DVN) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,000 shares of the energy company’s stock after selling 4,600 shares during the period. Virginia Retirement Systems ET AL’s holdings in Devon Energy were worth $8,108,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in Devon Energy by 18.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,696 shares of the energy company’s stock valued at $382,000 after acquiring an additional 1,382 shares during the last quarter. Aperio Group LLC increased its holdings in Devon Energy by 0.7% in the 3rd quarter. Aperio Group LLC now owns 220,582 shares of the energy company’s stock valued at $8,810,000 after acquiring an additional 1,574 shares during the last quarter. Deprince Race & Zollo Inc. increased its holdings in Devon Energy by 20.0% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 10,200 shares of the energy company’s stock valued at $448,000 after acquiring an additional 1,700 shares during the last quarter. Financial Architects Inc increased its holdings in Devon Energy by 168.5% in the 2nd quarter. Financial Architects Inc now owns 2,709 shares of the energy company’s stock valued at $119,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Dupont Capital Management Corp increased its holdings in Devon Energy by 37.6% in the 2nd quarter. Dupont Capital Management Corp now owns 6,413 shares of the energy company’s stock valued at $282,000 after acquiring an additional 1,753 shares during the last quarter. Hedge funds and other institutional investors own 83.77% of the company’s stock.

In related news, Director Robert H. Henry sold 5,600 shares of Devon Energy stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $42.14, for a total transaction of $235,984.00. Following the completion of the transaction, the director now directly owns 9,704 shares of the company’s stock, valued at approximately $408,926.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.55% of the stock is currently owned by insiders.

Devon Energy stock opened at $33.01 on Friday. Devon Energy Corp has a twelve month low of $29.83 and a twelve month high of $46.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.65 and a current ratio of 1.48. The stock has a market capitalization of $17.23 billion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 1.47 and a beta of 2.27.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 6th. The energy company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.21. Devon Energy had a net margin of 16.62% and a return on equity of 6.40%. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the firm posted $0.46 EPS. The business’s quarterly revenue was up 33.4% on a year-over-year basis. On average, equities analysts forecast that Devon Energy Corp will post 1.54 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.97%. Devon Energy’s dividend payout ratio is presently 50.79%.

A number of brokerages have issued reports on DVN. BMO Capital Markets reiterated a “buy” rating and issued a $50.00 price target on shares of Devon Energy in a report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Tuesday, October 16th. Stephens set a $52.00 price target on shares of Devon Energy and gave the company a “buy” rating in a report on Wednesday, July 25th. Stifel Nicolaus set a $60.00 price target on shares of Devon Energy and gave the company a “buy” rating in a report on Thursday, July 19th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $52.00 price target on shares of Devon Energy in a report on Thursday, August 16th. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $49.96.

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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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