Devon Energy Corporation (DVN) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. increased its stake in shares of Devon Energy Corporation (NYSE:DVN) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,561,597 shares of the energy company’s stock after purchasing an additional 403,257 shares during the quarter. Alliancebernstein L.P. owned about 0.87% of Devon Energy Corporation worth $145,834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FTB Advisors Inc. grew its stake in shares of Devon Energy Corporation by 84.2% during the first quarter. FTB Advisors Inc. now owns 2,755 shares of the energy company’s stock valued at $108,000 after purchasing an additional 1,259 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Devon Energy Corporation by 10.4% during the first quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock valued at $110,000 after purchasing an additional 248 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Devon Energy Corporation during the first quarter valued at approximately $116,000. FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in shares of Devon Energy Corporation by 88.9% during the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,400 shares of the energy company’s stock valued at $142,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Fiduciary Trust Co. bought a new stake in shares of Devon Energy Corporation during the second quarter valued at approximately $144,000. 77.00% of the stock is currently owned by institutional investors and hedge funds.

Shares of Devon Energy Corporation (NYSE:DVN) opened at 31.47 on Friday. The firm has a market capitalization of $16.54 billion, a price-to-earnings ratio of 7.12 and a beta of 2.18. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69. The firm has a 50-day moving average of $31.84 and a 200 day moving average of $35.92.

Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the firm posted $0.06 EPS. The company’s quarterly revenue was up 31.6% on a year-over-year basis. On average, equities research analysts expect that Devon Energy Corporation will post $1.74 earnings per share for the current year.

In other news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction on Friday, August 4th. The shares were 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 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 the SEC website. Corporate insiders own 0.98% of the company’s stock.

Several research firms have recently commented on DVN. KLR Group reissued a “buy” rating and set a $54.00 price target (up from $52.00) on shares of Devon Energy Corporation in a research note on Monday, May 15th. BMO Capital Markets set a $42.00 price target on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, May 15th. Jefferies Group LLC reissued a “hold” rating and set a $38.00 price target on shares of Devon Energy Corporation in a research note on Wednesday, May 17th. Scotiabank set a $57.00 price target on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Tuesday, May 16th. Finally, Royal Bank Of Canada set a $53.00 price target on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, May 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $46.27.

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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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