Todays Report: The 866 Shares of Devon Energy Corp. (DVN) are sold by Eqis Capital Management Inc.

The 866 Shares of Devon Energy Corp. (DVN) are sold by Eqis Capital Management Inc.

Eqis Capital Management Inc. decreased its position in Devon Energy Corp. (NYSE:DVN) by 10.7% during the third quarter, Holdings Channel reports. The fund owned 7,235 shares of the energy company’s stock after selling 866 shares during the period. Eqis Capital Management Inc.’s holdings in Devon Energy Corp. were worth $319,000 as of its most recent SEC filing.

Several 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 during the last quarter. Ropes Wealth Advisors LLC increased its position 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 increased its position 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 purchased a new position in Devon Energy Corp. during the second quarter worth about $144,000. Finally, Point72 Asia Hong Kong Ltd increased its position 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 institutional investors and hedge funds.

Devon Energy Corp. (NYSE:DVN) traded down 1.80% on Friday, reaching $44.23. The company had a trading volume of 1,962,350 shares. Devon Energy Corp. has a 12 month low of $18.07 and a 12 month high of $46.57. The firm has a 50-day moving average of $42.36 and a 200-day moving average of $39.80. The stock’s market capitalization is $23.16 billion.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders 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 0.54%. The ex-dividend date is Tuesday, December 13th. Devon Energy Corp.’s dividend payout ratio (DPR) is -1.28%.

A number of research firms have recently issued reports on DVN. Morgan Stanley set a $54.00 price target on Devon Energy Corp. and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Credit Suisse Group AG reaffirmed a “buy” rating and set a $46.00 price objective on shares of Devon Energy Corp. in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded Devon Energy Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Vetr raised Devon Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $49.33 price objective on the stock in a research report on Monday, September 12th. Finally, Barclays PLC raised their price objective on Devon Energy Corp. from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, August 4th. 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 given a strong buy rating to the company. The stock has an average rating of “Buy” and an average 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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