Skba Capital Management LLC decreased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 7.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,900 shares of the energy company’s stock after selling 600 shares during the quarter. Skba Capital Management LLC’s holdings in Devon Energy Corporation were worth $253,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alliancebernstein L.P. grew its stake in shares of Devon Energy Corporation by 9.7% during the second quarter. Alliancebernstein L.P. now owns 4,561,597 shares of the energy company’s stock valued at $145,834,000 after buying an additional 403,257 shares during the last quarter. Aberdeen Asset Management PLC UK grew its stake in shares of Devon Energy Corporation by 97.8% during the second quarter. Aberdeen Asset Management PLC UK now owns 236,503 shares of the energy company’s stock valued at $7,561,000 after buying an additional 116,934 shares during the last quarter. South Dakota Investment Council grew its stake in Devon Energy Corporation by 28.7% in the second quarter. South Dakota Investment Council now owns 1,293,613 shares of the energy company’s stock worth $41,357,000 after purchasing an additional 288,670 shares in the last quarter. Franklin Resources Inc. grew its stake in Devon Energy Corporation by 9.5% in the second quarter. Franklin Resources Inc. now owns 3,067,895 shares of the energy company’s stock worth $98,068,000 after purchasing an additional 267,180 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its stake in Devon Energy Corporation by 19.8% in the second quarter. Commonwealth Bank of Australia now owns 86,514 shares of the energy company’s stock worth $2,764,000 after purchasing an additional 14,308 shares in the last quarter. 77.00% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Robert H. Henry sold 7,045 shares of the business’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 transaction of $234,950.75. Following the transaction, the director now directly owns 11,338 shares of the company’s stock, valued at $378,122.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.
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Shares of Devon Energy Corporation (DVN) traded down 1.39% during midday trading on Friday, reaching $33.43. The company’s stock had a trading volume of 1,921,860 shares. The company has a 50 day moving average of $31.88 and a 200-day moving average of $35.61. The stock has a market capitalization of $17.57 billion, a price-to-earnings ratio of 7.56 and a beta of 2.18. 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 released its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.24 billion. During the same period in the previous year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 31.6% on a year-over-year basis. Equities research analysts predict that Devon Energy Corporation will post $1.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s payout ratio is presently 5.47%.
Several research analysts recently issued reports on DVN shares. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price objective on shares of Devon Energy Corporation in a research note on Tuesday, June 6th. Royal Bank Of Canada set a $53.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, May 29th. BMO Capital Markets reaffirmed a “buy” rating and set a $42.00 target price on shares of Devon Energy Corporation in a research report on Thursday, June 22nd. Scotiabank set a $49.00 target price on Devon Energy Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Barclays PLC reaffirmed a “buy” rating and set a $31.00 target price on shares of Devon Energy Corporation in a research report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $46.27.
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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