Quantitative Systematic Strategies LLC Has $505,000 Stake in Devon Energy Corporation (DVN)

Quantitative Systematic Strategies LLC raised its stake in shares of Devon Energy Corporation (NYSE:DVN) by 110.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,877 shares of the energy company’s stock after buying an additional 8,334 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Devon Energy Corporation were worth $505,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Investec Asset Management LTD increased its position in shares of Devon Energy Corporation by 6.5% in the first quarter. Investec Asset Management LTD now owns 571,980 shares of the energy company’s stock valued at $23,863,000 after buying an additional 35,008 shares during the period. Shapiro Capital Management LLC increased its position in shares of Devon Energy Corporation by 2.2% in the first quarter. Shapiro Capital Management LLC now owns 1,306,283 shares of the energy company’s stock valued at $54,498,000 after buying an additional 28,695 shares during the period. Teachers Advisors LLC increased its position in shares of Devon Energy Corporation by 2.3% in the first quarter. Teachers Advisors LLC now owns 939,950 shares of the energy company’s stock valued at $39,215,000 after buying an additional 20,850 shares during the period. HGK Asset Management Inc. increased its position in shares of Devon Energy Corporation by 7.0% in the first quarter. HGK Asset Management Inc. now owns 319,570 shares of the energy company’s stock valued at $13,332,000 after buying an additional 20,970 shares during the period. Finally, Karp Capital Management Corp acquired a new position in shares of Devon Energy Corporation during the first quarter valued at approximately $6,649,000. 77.27% of the stock is currently owned by institutional investors.

Devon Energy Corporation (NYSE DVN) traded down 0.80% during midday trading on Tuesday, reaching $32.14. The company’s stock had a trading volume of 6,161,430 shares. The firm has a market capitalization of $16.91 billion, a PE ratio of 7.21 and a beta of 2.17. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The stock’s 50-day moving average price is $31.63 and its 200 day moving average price is $38.36.

Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. Equities analysts anticipate that Devon Energy Corporation will post $1.66 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.75%. Devon Energy Corporation’s dividend payout ratio is currently 5.47%.

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DVN has been the topic of several research analyst reports. BidaskClub downgraded Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Citigroup Inc. dropped their price target on Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. BMO Capital Markets reissued a “buy” rating and set a $45.00 price target on shares of Devon Energy Corporation in a research report on Wednesday, May 3rd. Royal Bank Of Canada set a $53.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, May 29th. Finally, Barclays PLC reissued an “overweight” rating and set a $47.00 price target (down previously from $54.00) on shares of Devon Energy Corporation in a research report on Saturday, April 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.71.

In other news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the transaction, the director now directly owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Devon Energy Corporation Company Profile

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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