Calamos Advisors LLC raised its position in shares of Devon Energy Corporation (NYSE:DVN) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,888 shares of the energy company’s stock after purchasing an additional 2,448 shares during the quarter. Calamos Advisors LLC’s holdings in Devon Energy Corporation were worth $3,705,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Tradition Capital Management LLC grew its stake in Devon Energy Corporation by 129.5% during the 2nd quarter. Tradition Capital Management LLC now owns 56,054 shares of the energy company’s stock valued at $1,792,000 after purchasing an additional 31,626 shares during the last quarter. Hedeker Wealth LLC grew its stake in Devon Energy Corporation by 4.7% during the 2nd quarter. Hedeker Wealth LLC now owns 18,937 shares of the energy company’s stock valued at $605,000 after purchasing an additional 857 shares during the last quarter. Mitchell Group Inc. lifted its holdings in shares of Devon Energy Corporation by 1.3% in the 2nd quarter. Mitchell Group Inc. now owns 1,009,829 shares of the energy company’s stock valued at $32,284,000 after buying an additional 13,260 shares during the period. State of Tennessee Treasury Department lifted its holdings in shares of Devon Energy Corporation by 15.4% in the 2nd quarter. State of Tennessee Treasury Department now owns 384,569 shares of the energy company’s stock valued at $12,295,000 after buying an additional 51,296 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Devon Energy Corporation by 85.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 74,019 shares of the energy company’s stock valued at $2,366,000 after buying an additional 34,107 shares during the period. Institutional investors and hedge funds own 76.99% of the company’s stock.
Several equities analysts have recently issued reports on the company. Piper Jaffray Companies decreased their price objective on Devon Energy Corporation from $46.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, September 18th. Stifel Nicolaus reissued a “buy” rating and issued a $67.00 price objective on shares of Devon Energy Corporation in a report on Sunday, September 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $31.00 price objective (down previously from $35.00) on shares of Devon Energy Corporation in a report on Tuesday, August 29th. BMO Capital Markets set a $38.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a report on Monday, August 28th. Finally, Royal Bank Of Canada set a $43.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a report on Friday, August 25th. 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 has a consensus rating of “Hold” and a consensus price target of $45.61.
In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the 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 completion of the sale, the director now owns 11,338 shares in the company, valued at approximately $378,122.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.98% of the stock is owned by corporate insiders.
Devon Energy Corporation (DVN) opened at 35.78 on Friday. 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 price-to-earnings ratio of 8.10 and a beta of 2.18. The company has a 50-day moving average price of $31.92 and a 200 day moving average price of $35.28.
Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. The firm’s quarterly revenue was up 31.6% on a year-over-year basis. Equities analysts predict that Devon Energy Corporation will post $1.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.67%. Devon Energy Corporation’s payout ratio is 5.47%.
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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