AGF Investments Inc. cut its stake in shares of Devon Energy Corp. (NYSE:DVN) by 22.0% during the third quarter, Holdings Channel reports. The fund owned 115,740 shares of the energy company’s stock after selling 32,616 shares during the period. AGF Investments Inc.’s holdings in Devon Energy Corp. were worth $5,103,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of Devon Energy Corp. by 20.8% in the second quarter. IFP Advisors Inc now owns 2,806 shares of the energy company’s stock worth $102,000 after buying an additional 483 shares in the last quarter. Spirit of America Management Corp NY acquired a new stake in shares of Devon Energy Corp. during the third quarter worth about $132,000. Ropes Wealth Advisors LLC raised its stake in shares of Devon Energy Corp. by 738.7% in the second quarter. Ropes Wealth Advisors LLC now owns 3,338 shares of the energy company’s stock worth $121,000 after buying an additional 2,940 shares in the last quarter. RS Investment Management Co. LLC acquired a new stake in shares of Devon Energy Corp. during the second quarter worth about $144,000. Finally, Point72 Asia Hong Kong Ltd raised its stake in shares of Devon Energy Corp. by 91.7% in the second quarter. Point72 Asia Hong Kong Ltd now owns 4,600 shares of the energy company’s stock worth $167,000 after buying an additional 2,200 shares in the last quarter. 76.18% of the stock is owned by institutional investors and hedge funds.
Devon Energy Corp. (NYSE:DVN) traded up 0.71% during midday trading on Thursday, hitting $46.90. The stock had a trading volume of 4,874,444 shares. The firm’s market cap is $24.56 billion. Devon Energy Corp. has a 12-month low of $18.07 and a 12-month high of $50.69. The stock has a 50-day moving average price of $45.02 and a 200 day moving average price of $41.40.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Monday, March 13th. Devon Energy Corp.’s dividend payout ratio is currently -1.28%.
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A number of equities research analysts recently issued reports on DVN shares. Vetr lowered Devon Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $45.44 price target for the company. in a research note on Monday, September 19th. Bank of America Corp. set a $64.00 price target on Devon Energy Corp. and gave the stock a “buy” rating in a research note on Monday, October 10th. Seaport Global Securities raised Devon Energy Corp. from a “neutral” rating to a “buy” rating in a research note on Friday, December 9th. Societe Generale lowered Devon Energy Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Finally, Zacks Investment Research lowered Devon Energy Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $42.21.
Devon Energy Corp. Company Profile
Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.