NJ State Employees Deferred Compensation Plan Has $543,000 Position in Devon Energy Corporation (NYSE:DVN)

NJ State Employees Deferred Compensation Plan maintained its stake in shares of Devon Energy Corporation (NYSE:DVN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,000 shares of the energy company’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in Devon Energy Corporation were worth $543,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DVN. Exencial Wealth Advisors LLC raised its position in shares of Devon Energy Corporation by 0.4% in the first quarter. Exencial Wealth Advisors LLC now owns 13,021 shares of the energy company’s stock valued at $511,000 after buying an additional 46 shares during the last quarter. Park National Corp OH raised its position in shares of Devon Energy Corporation by 0.8% in the second quarter. Park National Corp OH now owns 6,779 shares of the energy company’s stock valued at $217,000 after buying an additional 54 shares during the last quarter. Honkamp Krueger Financial Services Inc. raised its position in shares of Devon Energy Corporation by 1.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock valued at $225,000 after buying an additional 96 shares during the last quarter. Fernwood Investment Management LLC raised its position in shares of Devon Energy Corporation by 1.4% in the first quarter. Fernwood Investment Management LLC now owns 7,200 shares of the energy company’s stock valued at $300,000 after buying an additional 100 shares during the last quarter. Finally, Godshalk Welsh Capital Management Inc. raised its position in shares of Devon Energy Corporation by 1.0% in the first quarter. Godshalk Welsh Capital Management Inc. now owns 10,075 shares of the energy company’s stock valued at $420,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 77.27% of the company’s stock.

Shares of Devon Energy Corporation (DVN) opened at 32.40 on Tuesday. The firm has a market capitalization of $17.04 billion, a P/E ratio of 7.27 and a beta of 2.17. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The stock has a 50 day moving average of $31.57 and a 200-day moving average of $38.48.

Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the business posted $0.06 earnings per share. The company’s revenue was up 31.6% on a year-over-year basis. On average, equities analysts expect that Devon Energy Corporation will post $1.64 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 given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Thursday, September 14th. Devon Energy Corporation’s dividend payout ratio is presently 5.47%.

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Several brokerages have recently weighed in on DVN. Barclays PLC reissued an “overweight” rating and issued a $35.00 price objective (up from $31.00) on shares of Devon Energy Corporation in a research report on Thursday, August 3rd. Scotiabank set a $49.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research report on Monday, July 31st. BidaskClub lowered shares of Devon Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Citigroup Inc. dropped their price objective on shares of Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $43.00 price objective on shares of Devon Energy Corporation in a research report on Thursday, July 20th. 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 given a strong buy rating to the stock. Devon Energy Corporation has a consensus rating of “Buy” and a consensus target price of $47.71.

In other news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the sale, the director now directly owns 11,338 shares in the company, valued at $378,122.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate 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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Institutional Ownership by Quarter for Devon Energy Corporation (NYSE:DVN)

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