First Trust Advisors LP raised its holdings in shares of Devon Energy Corp (NYSE:DVN) by 106.4% in the fourth quarter, HoldingsChannel reports. The firm owned 905,104 shares of the energy company’s stock after purchasing an additional 466,508 shares during the period. First Trust Advisors LP’s holdings in Devon Energy were worth $37,471,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in DVN. AHL Partners LLP bought a new position in shares of Devon Energy during the second quarter valued at approximately $210,000. Macquarie Group Ltd. increased its stake in shares of Devon Energy by 408.4% during the second quarter. Macquarie Group Ltd. now owns 46,260 shares of the energy company’s stock valued at $1,480,000 after purchasing an additional 37,160 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Devon Energy by 421.7% during the second quarter. Janus Henderson Group PLC now owns 325,903 shares of the energy company’s stock valued at $10,419,000 after purchasing an additional 263,434 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Devon Energy by 34.3% during the second quarter. Dynamic Technology Lab Private Ltd now owns 7,735 shares of the energy company’s stock valued at $247,000 after purchasing an additional 1,977 shares in the last quarter. Finally, Achmea Investment Management B.V. increased its stake in shares of Devon Energy by 22.4% during the second quarter. Achmea Investment Management B.V. now owns 50,424 shares of the energy company’s stock valued at $1,611,000 after purchasing an additional 9,221 shares in the last quarter. 76.94% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Lyndon C. Taylor sold 12,798 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.29, for a total value of $490,035.42. Following the sale, the executive vice president now owns 67,900 shares in the company, valued at $2,599,891. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.51% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors 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 is Wednesday, March 14th. Devon Energy’s dividend payout ratio is currently 8.19%.
A number of brokerages have weighed in on DVN. B. Riley began coverage on shares of Devon Energy in a research note on Monday, February 5th. They set a “neutral” rating and a $50.00 target price for the company. Capital One Financial downgraded shares of Devon Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 10th. KLR Group downgraded shares of Devon Energy from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Tuesday, January 23rd. Barclays raised their target price on shares of Devon Energy from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. Finally, Cowen set a $40.00 price target on shares of Devon Energy and gave the company a “buy” rating in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Devon Energy presently has an average rating of “Buy” and an average price target of $47.29.
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Devon Energy Company Profile
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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