Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in shares of Devon Energy Corporation (NYSE:DVN) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,873 shares of the energy company’s stock after selling 1,232 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Devon Energy Corporation were worth $1,946,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of DVN. Mitchell Group Inc. lifted its holdings in shares of Devon Energy Corporation by 1.3% during the second quarter. Mitchell Group Inc. now owns 1,009,829 shares of the energy company’s stock valued at $32,284,000 after purchasing an additional 13,260 shares during the last quarter. State of Tennessee Treasury Department lifted its holdings in shares of Devon Energy Corporation by 15.4% during the second quarter. State of Tennessee Treasury Department now owns 384,569 shares of the energy company’s stock valued at $12,295,000 after purchasing an additional 51,296 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Devon Energy Corporation by 85.5% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 74,019 shares of the energy company’s stock valued at $2,366,000 after purchasing an additional 34,107 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Devon Energy Corporation by 76.8% during the second quarter. Oppenheimer & Co. Inc. now owns 50,945 shares of the energy company’s stock valued at $1,630,000 after purchasing an additional 22,128 shares during the last quarter. Finally, Cipher Capital LP raised its holdings in Devon Energy Corporation by 80.0% in the 2nd quarter. Cipher Capital LP now owns 83,651 shares of the energy company’s stock worth $2,674,000 after acquiring an additional 37,188 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on DVN shares. Royal Bank Of Canada set a $53.00 price objective on shares of Devon Energy Corporation and gave the stock a “buy” rating in a report on Monday, May 29th. Stifel Nicolaus restated a “buy” rating and issued a $74.00 price objective on shares of Devon Energy Corporation in a report on Tuesday, June 6th. BidaskClub upgraded shares of Devon Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Seaport Global Securities lowered shares of Devon Energy Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the company from $51.00 to $28.00 in a research note on Wednesday, June 21st. Finally, BMO Capital Markets reiterated a “buy” rating and set a $42.00 target price on shares of Devon Energy Corporation in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.61.
Shares of Devon Energy Corporation (DVN) opened at 35.78 on Friday. The stock’s 50 day moving average is $31.92 and its 200 day moving average is $35.28. Devon Energy Corporation has a 12 month low of $28.79 and a 12 month high of $50.69. The stock has a market capitalization of $18.81 billion, a PE ratio of 8.10 and a beta of 2.18.
Devon Energy Corporation (NYSE:DVN) last released its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 31.6% on a year-over-year basis. Analysts anticipate that Devon Energy Corporation will post $1.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.06 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.67%. Devon Energy Corporation’s dividend payout ratio is presently 5.47%.
In related news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $33.35, for a total value of $234,950.75. Following the sale, the director now directly owns 11,338 shares of the company’s stock, valued at $378,122.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is currently owned by company insiders.
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Devon Energy Corporation Profile
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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