Polianta Ltd Acquires Shares of 40,900 Devon Energy Corporation $DVN

Polianta Ltd bought a new stake in Devon Energy Corporation (NYSE:DVN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,900 shares of the energy company’s stock, valued at approximately $1,433,000.

A number of other hedge funds have also bought and sold shares of DVN. TD Asset Management Inc lifted its position 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 valued at $8,504,000 after acquiring an additional 16,106 shares during the period. Stephens Inc. AR raised its stake in Devon Energy by 90.4% in the second quarter. Stephens Inc. AR now owns 72,546 shares of the energy company’s stock valued at $2,308,000 after purchasing an additional 34,448 shares in the last quarter. Natixis raised its stake in Devon Energy by 101.4% in the second quarter. Natixis now owns 73,902 shares of the energy company’s stock valued at $2,351,000 after purchasing an additional 37,211 shares in the last quarter. Scott & Selber Inc. bought a new stake in Devon Energy during the second quarter worth about $2,455,000. Finally, Kwmg LLC grew its stake in Devon Energy by 10.2% during the second quarter. Kwmg LLC now owns 147,671 shares of the energy company’s stock worth $4,697,000 after buying an additional 13,616 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Down 0.2%

NYSE DVN opened at $36.28 on Friday. The company has a market cap of $22.76 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 2.75 and a beta of 0.62. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $38.88. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The business’s fifty day moving average is $35.11 and its 200 day moving average is $34.34.

Devon Energy (NYSE:DVN) last posted its earnings results on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the company earned $1.10 earnings per share. As a group, sell-side analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, December 15th. Devon Energy’s dividend payout ratio (DPR) is currently 22.59%.

Analysts Set New Price Targets

Several equities analysts have recently commented on DVN shares. The Goldman Sachs Group boosted their target price on shares of Devon Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Mizuho boosted their price objective on shares of Devon Energy from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Johnson Rice cut their target price on Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Raymond James Financial lifted their price target on Devon Energy from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Barclays lowered their price target on Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.86.

Devon Energy Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.