Kiwi Wealth Investments Limited Partnership bought a new position in Devon Energy Corporation (NYSE:DVN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 65,718 shares of the energy company’s stock, valued at approximately $2,413,000.

A number of other hedge funds have also recently added to or reduced their stakes in DVN. Bank of Montreal Can grew its stake in shares of Devon Energy Corporation by 15.4% during the 2nd quarter. Bank of Montreal Can now owns 172,744 shares of the energy company’s stock valued at $5,524,000 after buying an additional 23,061 shares during the period. Exane Derivatives grew its stake in shares of Devon Energy Corporation by 36.0% during the 2nd quarter. Exane Derivatives now owns 5,650 shares of the energy company’s stock valued at $181,000 after buying an additional 1,497 shares during the period. CWM LLC grew its stake in shares of Devon Energy Corporation by 8.1% during the 2nd quarter. CWM LLC now owns 30,988 shares of the energy company’s stock valued at $991,000 after buying an additional 2,327 shares during the period. LS Investment Advisors LLC grew its stake in shares of Devon Energy Corporation by 10.9% during the 2nd quarter. LS Investment Advisors LLC now owns 17,646 shares of the energy company’s stock valued at $564,000 after buying an additional 1,740 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in shares of Devon Energy Corporation by 1.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the energy company’s stock valued at $1,042,000 after buying an additional 400 shares during the period. 77.27% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Corporation (NYSE:DVN) traded down $0.32 on Thursday, hitting $37.91. 4,694,500 shares of the stock traded hands, compared to its average volume of 4,799,298. The company has a market cap of $20,070.75, a P/E ratio of 26.18, a P/E/G ratio of 1.20 and a beta of 2.22. Devon Energy Corporation has a one year low of $28.79 and a one year high of $50.69. 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 Corporation (NYSE:DVN) last released its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Devon Energy Corporation had a net margin of 11.62% and a return on equity of 6.88%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 EPS. sell-side analysts expect that Devon Energy Corporation will post 1.75 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s payout ratio is currently 8.19%.

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DVN has been the subject of several research reports. Stifel Nicolaus set a $66.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Thursday, October 5th. Citigroup Inc. lowered their price objective on shares of Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Stephens raised shares of Devon Energy Corporation from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research note on Thursday, November 2nd. Scotiabank set a $47.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Friday, August 11th. Finally, BMO Capital Markets set a $38.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, August 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Devon Energy Corporation currently has a consensus rating of “Buy” and a consensus price target of $45.89.

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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