Amundi Has $200.58 Million Holdings in Devon Energy Corporation $DVN

Amundi lifted its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 100.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,854,380 shares of the energy company's stock after acquiring an additional 2,433,896 shares during the quarter. Amundi owned approximately 0.44% of Devon Energy worth $200,583,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in shares of Devon Energy by 7,555.6% during the second quarter. California State Teachers Retirement System now owns 52,787,085 shares of the energy company's stock valued at $2,181,162,000 after buying an additional 52,097,561 shares in the last quarter. Wellington Management Group LLP lifted its stake in Devon Energy by 418.3% in the 2nd quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company's stock worth $2,128,905,000 after acquiring an additional 41,581,435 shares in the last quarter. BlackRock Inc. lifted its stake in Devon Energy by 57.6% in the 2nd quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company's stock worth $3,941,054,000 after acquiring an additional 34,871,366 shares in the last quarter. Bank of America Corp DE acquired a new stake in Devon Energy during the 2nd quarter worth about $421,226,000. Finally, GQG Partners LLC acquired a new stake in Devon Energy during the 2nd quarter worth about $402,558,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Analyst Ratings Changes

DVN has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on Devon Energy from $62.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, July 8th. Seaport Research Partners initiated coverage on Devon Energy in a report on Thursday, September 3rd. They issued a "buy" rating and a $65.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Devon Energy from $66.00 to $63.00 and set an "overweight" rating on the stock in a research report on Friday, June 26th. Capital One Financial cut their target price on Devon Energy from $63.00 to $61.00 and set an "overweight" rating on the stock in a report on Tuesday, June 2nd. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Devon Energy in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Devon Energy currently has an average rating of "Moderate Buy" and an average price target of $59.23.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $48.44 on Wednesday. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71. The company has a market cap of $53.29 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.31 and a beta of 0.37. The business's 50 day moving average is $45.05 and its two-hundred day moving average is $45.85. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.17. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The company had revenue of $7.42 billion during the quarter, compared to analysts' expectations of $6.01 billion. During the same period in the prior year, the business earned $0.84 earnings per share. Devon Energy's revenue for the quarter was up 73.1% compared to the same quarter last year. On average, equities analysts expect that Devon Energy Corporation will post 5.24 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy's dividend payout ratio (DPR) is presently 30.40%.

Devon Energy Profile

Devon Energy Corporation NYSE: DVN is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.

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