Devon Energy Corporation (DVN) Holdings Increased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in shares of Devon Energy Corporation (NYSE:DVN) by 4.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 146,751 shares of the energy company’s stock after purchasing an additional 6,759 shares during the quarter. CIBC Asset Management Inc’s holdings in Devon Energy Corporation were worth $5,387,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in DVN. Sun Life Financial INC lifted its holdings in shares of Devon Energy Corporation by 32,058.3% in the 2nd quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after purchasing an additional 3,847 shares in the last quarter. Fiduciary Trust Co. bought a new position in shares of Devon Energy Corporation in the 2nd quarter worth $144,000. Global X Management Co. LLC lifted its holdings in shares of Devon Energy Corporation by 12.5% in the 2nd quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after purchasing an additional 503 shares in the last quarter. Exane Derivatives lifted its holdings in shares of Devon Energy Corporation by 36.0% in the 2nd quarter. Exane Derivatives now owns 5,650 shares of the energy company’s stock worth $181,000 after purchasing an additional 1,497 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in Devon Energy Corporation by 67.6% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock valued at $182,000 after acquiring an additional 2,300 shares in the last quarter. 77.27% of the stock is owned by institutional investors and hedge funds.

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Shares of Devon Energy Corporation (NYSE:DVN) traded down $0.61 on Wednesday, hitting $37.62. The stock had a trading volume of 1,713,397 shares, compared to its average volume of 4,799,770. The company has a market cap of $20,090.00, a P/E ratio of 27.16, a PEG ratio of 1.25 and a beta of 2.22. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69.

Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Devon Energy Corporation had a return on equity of 6.88% and a net margin of 11.62%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted $1.89 EPS. equities research analysts expect that Devon Energy Corporation will post 1.74 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.64%. Devon Energy Corporation’s dividend payout ratio (DPR) is presently 8.16%.

Several equities analysts have weighed in on DVN shares. Stifel Nicolaus set a $61.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Royal Bank Of Canada set a $43.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Cowen and Company restated a “buy” rating and set a $37.00 price objective on shares of Devon Energy Corporation in a research note on Tuesday, August 22nd. Scotiabank set a $49.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Citigroup Inc. lowered their target price on Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Two equities research 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’s stock. Devon Energy Corporation presently has an average rating of “Buy” and an average target price 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).

Institutional Ownership by Quarter for Devon Energy Corporation (NYSE:DVN)

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