Today, Retirement Systems of Alabama Sold shares of Devon Energy Corp. (DVN)

Today, Retirement Systems of Alabama Sold shares of Devon Energy Corp. (DVN)
Retirement Systems of Alabama decreased its stake in Devon Energy Corp. (NYSE:DVN) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,163 shares of the energy company’s stock after selling 2,319 shares during the period. Retirement Systems of Alabama owned 0.07% of Devon Energy Corp. worth $17,122,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Meyer Handelman Co. raised its position in Devon Energy Corp. by 8.8% in the third quarter. Meyer Handelman Co. now owns 266,100 shares of the energy company’s stock worth $11,738,000 after buying an additional 21,600 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC acquired a new position in Devon Energy Corp. during the third quarter worth approximately $26,819,000. Toronto Dominion Bank raised its position in Devon Energy Corp. by 121.6% in the third quarter. Toronto Dominion Bank now owns 22,447 shares of the energy company’s stock worth $991,000 after buying an additional 12,316 shares in the last quarter. KBC Group NV raised its position in Devon Energy Corp. by 25.6% in the third quarter. KBC Group NV now owns 163,966 shares of the energy company’s stock worth $7,233,000 after buying an additional 33,386 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Devon Energy Corp. by 26.3% in the third quarter. Victory Capital Management Inc. now owns 2,794,044 shares of the energy company’s stock worth $123,246,000 after buying an additional 581,006 shares in the last quarter. Hedge funds and other institutional investors own 77.07% of the company’s stock.

Shares of Devon Energy Corp. (NYSE:DVN) traded down 1.80% on Friday, hitting $44.23. 1,958,450 shares of the stock traded hands. The stock has a 50-day moving average price of $42.39 and a 200 day moving average price of $39.70. The stock’s market cap is $23.16 billion. Devon Energy Corp. has a 12-month low of $18.07 and a 12-month high of $46.57.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Tuesday, December 13th. Devon Energy Corp.’s dividend payout ratio is currently -1.28%.

DVN has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Devon Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a research note on Tuesday, August 16th. Vetr lowered shares of Devon Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $45.44 price target on the stock. in a research note on Tuesday, September 13th. Bank of America Corp. reiterated a “buy” rating and set a $60.00 price target (up from $56.00) on shares of Devon Energy Corp. in a research note on Tuesday, August 16th. Raymond James Financial Inc. lowered shares of Devon Energy Corp. from an “outperform” rating to a “market perform” rating and set a $45.84 price target on the stock. in a research note on Tuesday, September 6th. Finally, Argus boosted 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. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $42.21.

About Devon Energy Corp.

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