Today, BNP Paribas Arbitrage SA Buys 4,156 Shares of Devon Energy Corp. (DVN)

Today, BNP Paribas Arbitrage SA Buys 4,156 Shares of Devon Energy Corp. (DVN)

BNP Paribas Arbitrage SA raised its position in Devon Energy Corp. (NYSE:DVN) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,200 shares of the energy company’s stock after buying an additional 4,156 shares during the period. BNP Paribas Arbitrage SA’s holdings in Devon Energy Corp. were worth $4,023,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its position in shares of 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 period. Ropes Wealth Advisors LLC raised its position in shares of 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 period. Hall Laurie J Trustee raised its position in shares of 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 period. RS Investment Management Co. LLC acquired a new position in shares of Devon Energy Corp. during the second quarter worth about $144,000. Finally, Point72 Asia Hong Kong Ltd raised its position in shares of 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 period. 76.35% of the stock is owned by institutional investors and hedge funds.

Devon Energy Corp. (NYSE:DVN) traded down 3.57% during midday trading on Monday, reaching $42.65. The company had a trading volume of 5,809,255 shares. The firm’s market capitalization is $22.33 billion. The stock’s 50 day moving average price is $42.36 and its 200-day moving average price is $39.80. Devon Energy Corp. has a one year low of $18.07 and a one year high of $46.57.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 13th. This represents a $0.24 annualized dividend and a yield of 0.56%. Devon Energy Corp.’s dividend payout ratio (DPR) is presently -1.28%.

DVN has been the subject of a number of research reports. Morgan Stanley set a $54.00 price target on Devon Energy Corp. and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG reaffirmed a “buy” rating and set a $46.00 price target on shares of Devon Energy Corp. in a research note on Wednesday, August 3rd. Zacks Investment Research lowered Devon Energy Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Vetr raised Devon Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $49.33 price target for the company in a research note on Monday, September 12th. Finally, Barclays PLC increased their price target on Devon Energy Corp. from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. The company 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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