Today, Northwestern Mutual Investment Management Company LLC decides to keep it stake in Devon Energy Corp. (DVN) to the level of $725,000

Today, Northwestern Mutual Investment Management Company LLC decides to keep it stake in Devon Energy Corp. (DVN) to the level of $725,000
Northwestern Mutual Investment Management Company LLC boosted its position in Devon Energy Corp. (NYSE:DVN) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 19,996 shares of the energy company’s stock after buying an additional 512 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Devon Energy Corp. were worth $725,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc increased its position in Devon Energy Corp. by 20.8% in the second quarter. IFP Advisors Inc now owns 2,806 shares of the energy company’s stock worth $102,000 after buying an additional 483 shares in the last quarter. Ropes Wealth Advisors LLC boosted its stake in Devon Energy Corp. by 738.7% in the second quarter. Ropes Wealth Advisors LLC now owns 3,338 shares of the energy company’s stock worth $121,000 after buying an additional 2,940 shares during the last quarter. Hall Laurie J Trustee boosted its stake in Devon Energy Corp. by 13.7% in the second quarter. Hall Laurie J Trustee now owns 3,745 shares of the energy company’s stock worth $141,000 after buying an additional 450 shares during the last quarter. RS Investment Management Co. LLC acquired a new stake in Devon Energy Corp. during the second quarter worth approximately $144,000. Finally, Point72 Asia Hong Kong Ltd boosted its stake in Devon Energy Corp. by 91.7% in the second quarter. Point72 Asia Hong Kong Ltd now owns 4,600 shares of the energy company’s stock worth $167,000 after buying an additional 2,200 shares during the last quarter. 77.07% of the stock is currently owned by hedge funds and other institutional investors.

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

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

A number of equities research analysts have recently commented on DVN shares. Argus lifted their target price on 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. reiterated a “buy” rating and set a $60.00 target price (up from $56.00) on shares of Devon Energy Corp. in a research note on Tuesday, August 16th. Credit Suisse Group AG reiterated a “buy” rating and set a $46.00 target price on shares of Devon Energy Corp. in a research note on Wednesday, August 3rd. RBC Capital Markets set a $45.00 target price on Devon Energy Corp. and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Finally, Morgan Stanley set a $54.00 target price on Devon Energy Corp. and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. One 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 company presently has a consensus rating of “Buy” and a consensus target price of $42.21.

Devon Energy Corp. Company Profile

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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