Devon Energy Corporation (DVN) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in Devon Energy Corporation (NYSE:DVN) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,118 shares of the energy company’s stock after acquiring an additional 3,878 shares during the period. Teacher Retirement System of Texas owned 0.08% of Devon Energy Corporation worth $16,157,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sun Life Financial INC grew its stake in 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 acquiring an additional 3,847 shares in the last quarter. Fiduciary Trust Co. bought a new position in Devon Energy Corporation in the 2nd quarter worth about $144,000. Global X Management Co. LLC grew its stake in 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 acquiring an additional 503 shares in the last quarter. Exane Derivatives grew its stake in 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 acquiring an additional 1,497 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in Devon Energy Corporation by 67.6% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 77.27% of the company’s stock.

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Several brokerages have recently weighed in on DVN. Morgan Stanley upped their price target on shares of Devon Energy Corporation from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. BMO Capital Markets set a $38.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, August 28th. Citigroup Inc. lowered their price target on shares of Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Royal Bank Of Canada set a $43.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Stifel Nicolaus set a $61.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. Devon Energy Corporation currently has an average rating of “Buy” and a consensus target price of $45.89.

Devon Energy Corporation (NYSE:DVN) traded up $0.10 on Thursday, reaching $38.01. 219,979 shares of the company’s stock traded hands, compared to its average volume of 4,799,298. 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 stock has a market capitalization of $20,070.75, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 1.20 and a beta of 2.22. Devon Energy Corporation has a fifty-two week low of $28.79 and a fifty-two week high of $50.69.

Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The business had revenue of $3.16 billion for 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% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. sell-side analysts expect that Devon Energy Corporation will post 1.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.63%. The ex-dividend date 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).

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

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