Devon Energy Corp (DVN) Shares Bought by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. lifted its position in Devon Energy Corp (NYSE:DVN) by 126.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,382 shares of the energy company’s stock after purchasing an additional 11,400 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Devon Energy were worth $844,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DVN. Taylor Hoffman Wealth Management acquired a new stake in Devon Energy during the fourth quarter worth about $102,000. NuWave Investment Management LLC acquired a new stake in Devon Energy during the fourth quarter worth about $111,000. FNY Managed Accounts LLC acquired a new stake in Devon Energy during the third quarter worth about $134,000. Advisory Services Network LLC grew its holdings in Devon Energy by 127.8% during the fourth quarter. Advisory Services Network LLC now owns 3,445 shares of the energy company’s stock worth $143,000 after acquiring an additional 1,933 shares during the period. Finally, Sawyer & Company Inc acquired a new stake in Devon Energy during the fourth quarter worth about $151,000. Hedge funds and other institutional investors own 76.94% of the company’s stock.

Shares of Devon Energy Corp (DVN) opened at $34.11 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. Devon Energy Corp has a 1-year low of $28.79 and a 1-year high of $45.62. The company has a market capitalization of $17,907.75, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 1.65 and a beta of 2.10.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Wednesday, March 14th. Devon Energy’s payout ratio is currently 8.19%.

In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.29, for a total value of $490,035.42. Following the sale, the executive vice president now directly owns 67,900 shares of the company’s stock, valued at $2,599,891. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.51% of the stock is currently owned by company insiders.

DVN has been the topic of several analyst reports. Seaport Global Securities raised Devon Energy from a “neutral” rating to a “buy” rating in a report on Tuesday, December 19th. Credit Suisse Group initiated coverage on Devon Energy in a report on Monday, December 11th. They set an “outperform” rating and a $43.00 target price on the stock. Jefferies Group reaffirmed a “buy” rating and set a $52.00 target price on shares of Devon Energy in a report on Tuesday, January 30th. Barclays reaffirmed a “buy” rating and set a $39.00 target price on shares of Devon Energy in a report on Sunday, December 24th. Finally, Cowen set a $51.00 target price on Devon Energy and gave the stock a “buy” rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $47.29.

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About Devon Energy

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).

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

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