First American Bank purchased a new position in shares of Devon Energy Corp (NYSE:DVN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The hedge fund purchased 20,115 shares of the energy company’s stock, valued at approximately $644,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Asset Management increased its position in shares of Devon Energy Corp by 89.1% in the third quarter. Eagle Asset Management now owns 1,352,342 shares of the energy company’s stock valued at $50,158,000 after buying an additional 637,352 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft purchased a new stake in shares of Devon Energy Corp during the third quarter worth approximately $18,294,000. ING Groep boosted its stake in shares of Devon Energy Corp by 34.6% in the third quarter. ING Groep now owns 419,299 shares of the energy company’s stock worth $15,552,000 after buying an additional 107,824 shares in the last quarter. Janus Capital Management boosted its stake in shares of Devon Energy Corp by 780.4% in the third quarter. Janus Capital Management now owns 142,331 shares of the energy company’s stock worth $5,279,000 after buying an additional 126,164 shares in the last quarter. Finally, Nisa Investment Advisors boosted its stake in shares of Devon Energy Corp by 25.1% in the fourth quarter. Nisa Investment Advisors now owns 102,585 shares of the energy company’s stock worth $3,283,000 after buying an additional 20,600 shares in the last quarter.

Devon Energy Corp (NYSE:DVN) traded up 4.44% on Wednesday, reaching $25.65. The company’s stock had a trading volume of 4,043,174 shares. Devon Energy Corp has a 52 week low of $19.69 and a 52 week high of $70.48. The firm has a 50 day moving average price of $29.24 and a 200 day moving average price of $40.79. The stock’s market capitalization is $10.54 billion.

Devon Energy Corp (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 3rd. The energy company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.24. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the previous year, the business posted $1.34 earnings per share. Devon Energy Corp’s revenue was down 32.5% on a year-over-year basis. On average, equities analysts anticipate that Devon Energy Corp will post $2.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.91%.

A number of analysts have commented on the company. Barclays lifted their price target on Devon Energy Corp from $44.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Friday, November 6th. Vetr raised Devon Energy Corp from a “buy” rating to a “strong-buy” rating and set a $54.01 price target for the company in a research report on Monday, November 9th. Zacks Investment Research cut Devon Energy Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, November 25th. Jefferies Group lowered their price target on Devon Energy Corp to $55.00 and set a “buy” rating for the company in a research report on Wednesday, December 2nd. Finally, Guggenheim reaffirmed a “buy” rating on shares of Devon Energy Corp in a research report on Tuesday, December 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $60.08.

In other Devon Energy Corp news, Director Barbara M. Baumann acquired 8,200 shares of the company’s stock in a transaction dated Wednesday, January 6th. The stock was acquired at an average cost of $30.44 per share, with a total value of $249,608.00. Following the purchase, the director now directly owns 21,320 shares in the company, valued at approximately $648,980.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Devon Energy Corporation (NYSE:DVN) 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. Devon has approximately 689 Million Barrels of Oil Equivalent (MMBoe) of proved undeveloped reserves. The Company operates through three segments: U.S., Canada and EnLink. The Company’s projects in North America include Anadarko Basin, Barnett Shale, Mississippian-Woodford Trend, Permian Basin, Rockies and Canadian Heavy Oil. EnLink’s operations consist of midstream assets and operations located across the United States. In Canada, the company has two main projects, Jackfish and Pike, located in Alberta, Canada. In addition, its Lloydminster properties are located to the south and east of Jackfish in eastern Alberta.

12 Month Chart for NYSE:DVN

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