Todays Report: Today, Mutual of America Capital Management LLC Increases Position in Devon Energy Corp. (DVN)

Today, Mutual of America Capital Management LLC Increases Position in Devon Energy Corp. (DVN)

Mutual of America Capital Management LLC increased its stake in shares of Devon Energy Corp. (NYSE:DVN) by 3.0% during the third quarter, Holdings Channel reports. The institutional investor owned 63,167 shares of the energy company’s stock after buying an additional 1,813 shares during the period. Mutual of America Capital Management LLC’s holdings in Devon Energy Corp. were worth $2,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DVN. Retirement Systems of Alabama raised its position in Devon Energy Corp. by 49.2% in the second quarter. Retirement Systems of Alabama now owns 390,482 shares of the energy company’s stock valued at $14,155,000 after buying an additional 128,792 shares in the last quarter. Guinness Asset Management Ltd raised its position in Devon Energy Corp. by 0.7% in the second quarter. Guinness Asset Management Ltd now owns 307,076 shares of the energy company’s stock valued at $11,132,000 after buying an additional 2,000 shares in the last quarter. Standard Life Investments LTD bought a new position in Devon Energy Corp. during the second quarter valued at $46,082,000. Beck Mack & Oliver LLC raised its position in Devon Energy Corp. by 0.7% in the second quarter. Beck Mack & Oliver LLC now owns 861,192 shares of the energy company’s stock valued at $31,219,000 after buying an additional 6,088 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in Devon Energy Corp. by 8.4% in the second quarter. California State Teachers Retirement System now owns 1,136,112 shares of the energy company’s stock valued at $41,184,000 after buying an additional 87,634 shares in the last quarter. Hedge funds and other institutional investors own 77.07% of the company’s stock.

Devon Energy Corp. (NYSE:DVN) traded down 1.80% during midday trading on Friday, reaching $44.23. 1,962,350 shares of the company’s stock traded hands. Devon Energy Corp. has a 52-week low of $18.07 and a 52-week high of $46.57. The stock has a 50-day moving average of $42.36 and a 200 day moving average of $39.80. The company’s market cap is $23.16 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.24 annualized dividend and a dividend yield of 0.54%. Devon Energy Corp.’s dividend payout ratio is currently -1.28%.

Several research analysts have weighed in on DVN shares. Vetr upgraded shares of Devon Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $46.16 price objective on the stock in a research note on Tuesday, September 20th. Argus increased their price target on shares of Devon Energy Corp. from $51.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Bank of America Corp. set a $64.00 price target on shares of Devon Energy Corp. and gave the stock a “buy” rating in a research note on Monday, October 10th. Barclays PLC increased their price target on shares of Devon Energy Corp. from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, September 1st. Finally, Zacks Investment Research upgraded shares of Devon Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $42.21.

About Devon Energy Corp.

Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.

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