Victory Capital Management Inc. Has $167.35 Million Stake in Devon Energy Corp (DVN)

Victory Capital Management Inc. lifted its holdings in shares of Devon Energy Corp (NYSE:DVN) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,424,556 shares of the energy company’s stock after buying an additional 644,373 shares during the quarter. Victory Capital Management Inc. owned about 1.59% of Devon Energy worth $167,350,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. 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 buying an additional 1,173,389 shares during the period. Commonwealth Bank of Australia grew its position in shares of Devon Energy by 18.1% during the 3rd quarter. Commonwealth Bank of Australia now owns 68,467 shares of the energy company’s stock worth $2,728,000 after buying an additional 10,500 shares during the period. LPL Financial LLC grew its position in shares of Devon Energy by 13.0% during the 3rd quarter. LPL Financial LLC now owns 56,986 shares of the energy company’s stock worth $2,276,000 after buying an additional 6,546 shares during the period. Morgan Stanley grew its position in shares of Devon Energy by 105.9% during the 3rd quarter. Morgan Stanley now owns 2,521,826 shares of the energy company’s stock worth $100,722,000 after buying an additional 1,296,801 shares during the period. Finally, BB&T Corp grew its position in shares of Devon Energy by 1,003.3% during the 4th quarter. BB&T Corp now owns 700,770 shares of the energy company’s stock worth $15,795,000 after buying an additional 637,254 shares during the period. Institutional investors own 82.79% of the company’s stock.

Several equities research analysts have recently commented on DVN shares. Royal Bank of Canada lowered their price target on shares of Devon Energy from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 8th. Johnson Rice cut shares of Devon Energy from a “buy” rating to an “accumulate” rating in a report on Tuesday, January 8th. Cowen initiated coverage on shares of Devon Energy in a report on Thursday, November 29th. They set a “market perform” rating for the company. Zacks Investment Research upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Tuesday, October 16th. Finally, Stifel Nicolaus restated a “buy” rating and set a $50.00 price objective on shares of Devon Energy in a report on Tuesday, November 27th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $46.36.

Shares of Devon Energy stock traded up $0.69 on Tuesday, hitting $26.13. The company had a trading volume of 184,928 shares, compared to its average volume of 7,437,618. The stock has a market capitalization of $12.37 billion, a PE ratio of 41.31, a price-to-earnings-growth ratio of 1.52 and a beta of 2.23. Devon Energy Corp has a twelve month low of $20.37 and a twelve month high of $46.54. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.65.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is presently 50.79%.

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Devon Energy 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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