DekaBank Deutsche Girozentrale raised its holdings in Devon Energy Corp (NYSE:DVN) by 4.0% in the third quarter, HoldingsChannel.com reports. The fund owned 73,209 shares of the energy company’s stock after buying an additional 2,796 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Devon Energy were worth $3,239,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. CIBC World Markets Inc. raised its stake in shares of Devon Energy by 2.2% during the 3rd quarter. CIBC World Markets Inc. now owns 82,714 shares of the energy company’s stock worth $3,304,000 after buying an additional 1,789 shares during the last quarter. Amica Pension Fund Board of Trustees acquired a new position in shares of Devon Energy during the 3rd quarter worth $597,000. Amica Mutual Insurance Co. acquired a new position in shares of Devon Energy during the 3rd quarter worth $665,000. American International Group Inc. raised its stake in shares of Devon Energy by 3.0% during the 3rd quarter. American International Group Inc. now owns 244,096 shares of the energy company’s stock worth $9,749,000 after buying an additional 7,060 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Devon Energy by 4.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 48,408 shares of the energy company’s stock worth $1,933,000 after buying an additional 1,882 shares during the last quarter. 86.64% of the stock is owned by institutional investors.
DVN opened at $27.03 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 42.90, a price-to-earnings-growth ratio of 1.38 and a beta of 2.27. Devon Energy Corp has a 12 month low of $25.87 and a 12 month high of $46.54.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 50.79%.
A number of analysts recently commented on the company. Barclays assumed coverage on Devon Energy in a research report on Wednesday, August 29th. They set an “overweight” rating and a $49.00 price objective for the company. Seaport Global Securities reiterated a “buy” rating on shares of Devon Energy in a research report on Wednesday, October 17th. BMO Capital Markets reiterated a “buy” rating and set a $50.00 price objective on shares of Devon Energy in a research report on Tuesday, August 7th. Mizuho set a $31.00 price objective on Devon Energy and gave the stock a “hold” rating in a research report on Wednesday, November 28th. Finally, KLR Group reiterated a “buy” rating and set a $60.00 price objective on shares of Devon Energy in a research report on Monday, August 20th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $47.95.
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Devon Energy 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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