Eaton Vance Management decreased its stake in shares of Devon Energy Corporation (NYSE:DVN) by 0.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,423,391 shares of the energy company’s stock after selling 500 shares during the quarter. Eaton Vance Management owned 0.27% of Devon Energy Corporation worth $45,506,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State of Alaska Department of Revenue bought a new stake in Devon Energy Corporation during the first quarter worth about $116,000. Canada Pension Plan Investment Board lifted its position in shares of Devon Energy Corporation by 51.6% during the first quarter. Canada Pension Plan Investment Board now owns 140,740 shares of the energy company’s stock worth $5,872,000 after purchasing an additional 47,926 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in shares of Devon Energy Corporation during the first quarter worth approximately $2,086,000. State Treasurer State of Michigan lifted its position in shares of Devon Energy Corporation by 0.6% during the first quarter. State Treasurer State of Michigan now owns 172,363 shares of the energy company’s stock worth $7,191,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Tyers Asset Management LLC lifted its position in shares of Devon Energy Corporation by 25.5% during the first quarter. Tyers Asset Management LLC now owns 9,536 shares of the energy company’s stock worth $398,000 after purchasing an additional 1,936 shares in the last quarter. 77.00% of the stock is currently owned by institutional investors and hedge funds.
DVN has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $67.00 target price on shares of Devon Energy Corporation in a research note on Sunday, September 3rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $31.00 target price (down previously from $35.00) on shares of Devon Energy Corporation in a research note on Tuesday, August 29th. BMO Capital Markets set a $38.00 target price on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, August 28th. Royal Bank Of Canada set a $43.00 target price on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, Cowen and Company reissued a “buy” rating and set a $37.00 price objective on shares of Devon Energy Corporation in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.27.
Shares of Devon Energy Corporation (NYSE DVN) traded down 1.74% during mid-day trading on Friday, reaching $33.31. 2,536,863 shares of the company’s stock were exchanged. The company has a market cap of $17.51 billion, a PE ratio of 7.54 and a beta of 2.18. The company’s 50-day moving average price is $31.88 and its 200 day moving average price is $35.61. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69.
Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. Devon Energy Corporation’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. On average, equities research analysts predict that Devon Energy Corporation will post $1.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a yield of 0.71%. Devon Energy Corporation’s payout ratio is 5.47%.
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In related news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corporation stock in a transaction dated Friday, August 4th. The stock was 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 directly owns 11,338 shares in the company, valued at approximately $378,122.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is currently owned by company insiders.
Devon Energy Corporation Company 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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