Acadian Asset Management LLC purchased a new position in Devon Energy Corporation (NYSE:DVN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 63,625 shares of the energy company’s stock, valued at approximately $2,034,000.
A number of other large investors also recently bought and sold shares of DVN. Fifth Third Bancorp boosted its position in shares of Devon Energy Corporation by 10.4% in the first quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock worth $110,000 after buying an additional 248 shares in the last quarter. FTB Advisors Inc. boosted its position in shares of Devon Energy Corporation by 84.2% in the first quarter. FTB Advisors Inc. now owns 2,755 shares of the energy company’s stock worth $108,000 after buying an additional 1,259 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Devon Energy Corporation during the first quarter worth about $116,000. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of Devon Energy Corporation by 88.9% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,400 shares of the energy company’s stock worth $142,000 after buying an additional 1,600 shares in the last quarter. Finally, Financial Architects Inc boosted its position in shares of Devon Energy Corporation by 525.4% in the first quarter. Financial Architects Inc now owns 3,884 shares of the energy company’s stock worth $162,000 after buying an additional 3,263 shares in the last quarter. Institutional investors and hedge funds own 77.27% of the company’s stock.
Shares of Devon Energy Corporation (NYSE DVN) traded up 0.52% during mid-day trading on Tuesday, reaching $32.57. 1,551,978 shares of the company’s stock traded hands. The stock has a market cap of $17.13 billion, a price-to-earnings ratio of 7.30 and a beta of 2.17. The firm’s 50 day moving average price is $31.57 and its 200-day moving average price is $38.48. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69.
Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 EPS. Equities research analysts forecast that Devon Energy Corporation will post $1.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, September 14th. Devon Energy Corporation’s payout ratio is presently 5.47%.
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A number of research analysts have recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Devon Energy Corporation in a report on Wednesday, April 12th. They set a “buy” rating and a $73.00 price objective for the company. They noted that the move was a valuation call. Royal Bank Of Canada set a $53.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Tuesday, April 25th. Barclays PLC reiterated an “overweight” rating and set a $47.00 price objective (down from $54.00) on shares of Devon Energy Corporation in a report on Saturday, April 22nd. BMO Capital Markets reiterated a “buy” rating and set a $45.00 price objective on shares of Devon Energy Corporation in a report on Wednesday, May 3rd. Finally, Credit Suisse Group lifted their price objective on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $47.71.
In other news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $33.35, for a total transaction of $234,950.75. Following the sale, the director now owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.98% of the company’s stock.
About Devon Energy Corporation
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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