HRT Financial LP Acquires 454,711 Shares of Devon Energy Corporation $DVN

HRT Financial LP grew its stake in Devon Energy Corporation (NYSE:DVN) by 274.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 620,581 shares of the energy company’s stock after purchasing an additional 454,711 shares during the period. HRT Financial LP’s holdings in Devon Energy were worth $19,740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC boosted its stake in Devon Energy by 78.7% in the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after buying an additional 2,802,137 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Devon Energy by 81.1% during the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock valued at $188,131,000 after acquiring an additional 2,252,918 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Devon Energy by 83.9% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock valued at $145,311,000 after purchasing an additional 2,083,600 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in Devon Energy in the first quarter worth $63,561,000. Finally, Prudential Financial Inc. grew its holdings in shares of Devon Energy by 93.4% during the second quarter. Prudential Financial Inc. now owns 1,506,329 shares of the energy company’s stock worth $47,916,000 after purchasing an additional 727,532 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $37.52 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. The firm has a market cap of $23.53 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 2.85 and a beta of 0.62. The stock’s 50-day moving average is $34.65 and its 200-day moving average is $34.04. Devon Energy Corporation has a one year low of $25.89 and a one year high of $38.88.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the firm posted $1.10 EPS. Equities analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, December 15th. Devon Energy’s payout ratio is presently 22.59%.

Analysts Set New Price Targets

Several research firms have weighed in on DVN. Siebert Williams Shank lowered their price objective on shares of Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Argus raised shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, November 26th. Roth Capital began coverage on Devon Energy in a research report on Monday, October 13th. They issued a “buy” rating and a $42.00 price objective on the stock. BMO Capital Markets reduced their price target on shares of Devon Energy from $51.00 to $50.00 in a research report on Tuesday, November 11th. Finally, Johnson Rice lowered their price objective on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $44.90.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.