227,010 Shares in Devon Energy Corporation (DVN) Purchased by Centre Asset Management LLC

Centre Asset Management LLC bought a new position in shares of Devon Energy Corporation (NYSE:DVN) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 227,010 shares of the energy company’s stock, valued at approximately $8,334,000. Devon Energy Corporation makes up approximately 2.2% of Centre Asset Management LLC’s investment portfolio, making the stock its 21st biggest position.

Several other institutional investors have also recently made changes to their positions in the stock. Achmea Investment Management B.V. increased its position in shares of Devon Energy Corporation by 22.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 50,424 shares of the energy company’s stock worth $1,611,000 after purchasing an additional 9,221 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Devon Energy Corporation by 10.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,561,234 shares of the energy company’s stock worth $49,913,000 after purchasing an additional 143,851 shares in the last quarter. Sentry Investment Management LLC increased its position in shares of Devon Energy Corporation by 174.7% during the 2nd quarter. Sentry Investment Management LLC now owns 40,927 shares of the energy company’s stock worth $1,308,000 after purchasing an additional 26,028 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Devon Energy Corporation by 24.7% during the 2nd quarter. Toronto Dominion Bank now owns 185,353 shares of the energy company’s stock worth $5,925,000 after purchasing an additional 36,768 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its position in shares of Devon Energy Corporation by 16.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 195,199 shares of the energy company’s stock worth $6,241,000 after purchasing an additional 27,741 shares in the last quarter. Institutional investors and hedge funds own 77.00% of the company’s stock.

Shares of Devon Energy Corporation (NYSE:DVN) traded down 1.32% on Wednesday, hitting $35.26. 1,706,837 shares of the stock traded hands. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The stock has a 50 day moving average of $34.37 and a 200-day moving average of $34.70. The stock has a market cap of $18.53 billion, a PE ratio of 7.98 and a beta of 2.21.

Devon Energy Corporation (NYSE:DVN) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue was up 31.6% on a year-over-year basis. On average, equities research analysts expect that Devon Energy Corporation will post $1.71 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s payout ratio is presently 5.47%.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price 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. BMO Capital Markets set a $45.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Jefferies Group LLC upgraded shares of Devon Energy Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Monday, October 9th. Stifel Nicolaus set a $66.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, Cowen and Company reiterated a “buy” rating and set a $40.00 target price on shares of Devon Energy Corporation in a research report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $45.47.

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Several other institutional investors have also recently made changes to their positions in the stock. Achmea Investment Management B.V. increased its position in shares of Devon Energy Corporation by 22.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 50,424 shares of the energy company’s stock worth $1,611,000 after purchasing an additional 9,221 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Devon Energy Corporation by 10.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,561,234 shares of the energy company’s stock worth $49,913,000 after purchasing an additional 143,851 shares in the last quarter. Sentry Investment Management LLC increased its position in shares of Devon Energy Corporation by 174.7% during the 2nd quarter. Sentry Investment Management LLC now owns 40,927 shares of the energy company’s stock worth $1,308,000 after purchasing an additional 26,028 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Devon Energy Corporation by 24.7% during the 2nd quarter. Toronto Dominion Bank now owns 185,353 shares of the energy company’s stock worth $5,925,000 after purchasing an additional 36,768 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its position in shares of Devon Energy Corporation by 16.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 195,199 shares of the energy company’s stock worth $6,241,000 after purchasing an additional 27,741 shares in the last quarter. Institutional investors and hedge funds own 77.00% of the company’s stock.

Shares of Devon Energy Corporation (NYSE:DVN) traded down 1.32% on Wednesday, hitting $35.26. 1,706,837 shares of the stock traded hands. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The stock has a 50 day moving average of $34.37 and a 200-day moving average of $34.70. The stock has a market cap of $18.53 billion, a PE ratio of 7.98 and a beta of 2.21.

Devon Energy Corporation (NYSE:DVN) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue was up 31.6% on a year-over-year basis. On average, equities research analysts expect that Devon Energy Corporation will post $1.71 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s payout ratio is presently 5.47%.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price 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. BMO Capital Markets set a $45.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Jefferies Group LLC upgraded shares of Devon Energy Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Monday, October 9th. Stifel Nicolaus set a $66.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, Cowen and Company reiterated a “buy” rating and set a $40.00 target price on shares of Devon Energy Corporation in a research report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $45.47.

ILLEGAL ACTIVITY WARNING: This article was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another website, it was illegally stolen and reposted in violation of international trademark & copyright laws. The legal version of this article can be accessed at https://ledgergazette.com/2017/10/18/227010-shares-in-devon-energy-corporation-dvn-purchased-by-centre-asset-management-llc.html.

In related news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $33.35, for a total value of $234,950.75. Following the sale, the director now directly owns 11,338 shares in the company, valued at $378,122.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

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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