Trading Report: Today, Devon Energy Corp. (DVN) Position Maintained by Adams Asset Advisors LLC

Today, Devon Energy Corp. (DVN) Position Maintained by Adams Asset Advisors LLC

Adams Asset Advisors LLC maintained its stake in shares of Devon Energy Corp. (NYSE:DVN) during the third quarter, Holdings Channel reports. The institutional investor owned 44,093 shares of the energy company’s stock at the end of the third quarter. Adams Asset Advisors LLC’s holdings in Devon Energy Corp. were worth $1,944,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Viking Fund Management LLC bought a new stake in shares of Devon Energy Corp. during the third quarter worth about $7,278,000. MSI Financial Services Inc increased its stake in shares of Devon Energy Corp. by 32.4% in the third quarter. MSI Financial Services Inc now owns 15,243 shares of the energy company’s stock worth $673,000 after buying an additional 3,728 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Devon Energy Corp. by 2.5% in the third quarter. Gulf International Bank UK Ltd now owns 143,818 shares of the energy company’s stock worth $6,343,000 after buying an additional 3,500 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Devon Energy Corp. by 31.5% in the third quarter. Nisa Investment Advisors LLC now owns 76,329 shares of the energy company’s stock worth $3,367,000 after buying an additional 18,300 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of Devon Energy Corp. by 7.0% in the third quarter. Capstone Asset Management Co. now owns 55,796 shares of the energy company’s stock worth $2,461,000 after buying an additional 3,650 shares during the last quarter. 76.35% of the stock is currently owned by institutional investors.

Devon Energy Corp. (NYSE:DVN) traded down 3.57% during mid-day trading on Monday, hitting $42.65. The company had a trading volume of 5,810,255 shares. Devon Energy Corp. has a 52-week low of $18.07 and a 52-week high of $46.52. The company’s market capitalization is $22.33 billion. The company has a 50-day moving average price of $42.36 and a 200 day moving average price of $39.99.

The company also recently announced 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 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Tuesday, December 13th. Devon Energy Corp.’s dividend payout ratio (DPR) is presently -1.28%.

Several equities analysts have recently weighed in on DVN shares. 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 cut shares of Devon Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $45.44 price objective on the stock. in a research note on Tuesday, September 13th. Bank of America Corp. reiterated a “buy” rating and issued a $60.00 price objective (up previously from $56.00) on shares of Devon Energy Corp. in a research note on Tuesday, August 16th. Raymond James Financial Inc. cut shares of Devon Energy Corp. from an “outperform” rating to a “market perform” rating and set a $45.84 price objective on the stock. in a research note on Tuesday, September 6th. Finally, Argus increased their price objective 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 given a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target 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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