Deprince Race & Zollo Inc. Grows Position in Devon Energy Corporation (DVN)

Deprince Race & Zollo Inc. increased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 75.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,000 shares of the energy company’s stock after acquiring an additional 6,000 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Devon Energy Corporation were worth $514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sun Life Financial INC raised its stake in Devon Energy Corporation by 32,058.3% during the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after acquiring an additional 3,847 shares during the period. Fiduciary Trust Co. acquired a new stake in Devon Energy Corporation during the second quarter worth about $144,000. Global X Management Co. LLC raised its stake in Devon Energy Corporation by 12.5% during the second quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after acquiring an additional 503 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in Devon Energy Corporation by 67.6% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock worth $182,000 after acquiring an additional 2,300 shares during the period. Finally, Papp L Roy & Associates acquired a new stake in Devon Energy Corporation during the third quarter worth about $210,000. Hedge funds and other institutional investors own 77.27% of the company’s stock.

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Several equities research analysts recently weighed in on DVN shares. BMO Capital Markets set a $38.00 price objective on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, August 28th. Stifel Nicolaus set a $61.00 price objective on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Royal Bank Of Canada set a $43.00 price objective on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Cowen and Company reiterated a “buy” rating and set a $37.00 price objective on shares of Devon Energy Corporation in a research note on Tuesday, August 22nd. Finally, Scotiabank set a $49.00 price objective on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Devon Energy Corporation has a consensus rating of “Buy” and a consensus price target of $45.89.

Devon Energy Corporation (NYSE DVN) opened at $38.68 on Friday. Devon Energy Corporation has a 12 month low of $28.79 and a 12 month high of $50.69. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. The company has a market cap of $20,307.00, a P/E ratio of 26.49, a P/E/G ratio of 1.20 and a beta of 2.22.

Devon Energy Corporation (NYSE:DVN) last issued its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.07. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Devon Energy Corporation had a net margin of 11.62% and a return on equity of 6.88%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. research analysts expect that Devon Energy Corporation will post 1.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s payout ratio is 8.19%.

About Devon Energy Corporation

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 Corporation (NYSE:DVN)

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