Allianz Asset Management GmbH Has $25.42 Million Stock Holdings in Devon Energy Corporation $DVN

Allianz Asset Management GmbH raised its stake in Devon Energy Corporation (NYSE:DVN) by 32.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 799,181 shares of the energy company’s stock after buying an additional 196,972 shares during the quarter. Allianz Asset Management GmbH’s holdings in Devon Energy were worth $25,422,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Mutual Advisors LLC increased its stake in Devon Energy by 34.7% in the 2nd quarter. Mutual Advisors LLC now owns 12,137 shares of the energy company’s stock valued at $400,000 after buying an additional 3,126 shares during the period. Triton Wealth Management PLLC acquired a new position in shares of Devon Energy during the 2nd quarter worth $318,000. TD Asset Management Inc increased its stake in shares of Devon Energy by 6.4% during the 2nd quarter. TD Asset Management Inc now owns 267,322 shares of the energy company’s stock worth $8,504,000 after purchasing an additional 16,106 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of Devon Energy by 5.7% during the 2nd quarter. Wilmington Savings Fund Society FSB now owns 20,815 shares of the energy company’s stock worth $662,000 after purchasing an additional 1,117 shares during the last quarter. Finally, RFG Advisory LLC increased its stake in shares of Devon Energy by 18.4% during the 2nd quarter. RFG Advisory LLC now owns 85,027 shares of the energy company’s stock worth $2,705,000 after purchasing an additional 13,220 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

NYSE DVN opened at $31.73 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $34.52 and a 200 day simple moving average of $32.90. The company has a market cap of $20.14 billion, a P/E ratio of 7.12, a P/E/G ratio of 1.87 and a beta of 1.03. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $41.06.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. Devon Energy’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 EPS. On average, sell-side analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

Analyst Ratings Changes

Several brokerages have recently commented on DVN. Barclays dropped their price target on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Devon Energy in a research note on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $45.00 price target (up previously from $40.00) on shares of Devon Energy in a research note on Tuesday, July 22nd. UBS Group increased their price target on shares of Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Finally, Evercore ISI increased their price target on shares of Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a research note on Monday, October 6th. Seventeen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

Insider Transactions at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the sale, the director directly owned 31,801 shares in the company, valued at $1,064,061.46. This trade represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is owned by corporate insiders.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.