Devon Energy Corp (DVN) Stake Decreased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in Devon Energy Corp (NYSE:DVN) by 5.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,196,000 shares of the energy company’s stock after selling 74,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.24% of Devon Energy worth $47,768,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DVN. Verition Fund Management LLC boosted its stake in Devon Energy by 24.7% in the 1st quarter. Verition Fund Management LLC now owns 6,300 shares of the energy company’s stock worth $200,000 after purchasing an additional 1,249 shares in the last quarter. Blair William & Co. IL boosted its stake in Devon Energy by 5.5% in the 1st quarter. Blair William & Co. IL now owns 24,811 shares of the energy company’s stock worth $789,000 after purchasing an additional 1,283 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 worth $382,000 after purchasing an additional 1,382 shares in the last quarter. Private Asset Management Inc. boosted its stake in Devon Energy by 3.4% in the 2nd quarter. Private Asset Management Inc. now owns 49,015 shares of the energy company’s stock worth $1,558,000 after purchasing an additional 1,630 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake 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 worth $448,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 84.03% of the company’s stock.

Shares of NYSE DVN opened at $37.08 on Wednesday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.45. Devon Energy Corp has a 12 month low of $29.83 and a 12 month high of $46.54. The company has a market cap of $20.32 billion, a price-to-earnings ratio of 58.86, a price-to-earnings-growth ratio of 3.45 and a beta of 2.26.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, July 31st. The energy company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Devon Energy had a negative net margin of 1.60% and a positive return on equity of 5.52%. During the same period last year, the firm earned $0.80 earnings per share. As a group, equities research analysts forecast that Devon Energy Corp will post 1.65 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 50.79%.

DVN has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Tuesday, August 7th. UBS Group upgraded shares of Devon Energy from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Monday, August 6th. ValuEngine upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Stephens set a $52.00 price objective on shares of Devon Energy and gave the company a “buy” rating in a research note on Wednesday, July 25th. Finally, Mizuho assumed coverage on shares of Devon Energy in a research note on Monday, July 23rd. They set a “buy” rating and a $59.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $49.86.

In other news, Director Robert H. Henry sold 5,600 shares of Devon Energy stock in a transaction that occurred on 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 legal filing with the SEC, which is available through the SEC website. 0.55% of the stock is owned by insiders.

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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