Nomura Asset Management Co. Ltd. Raises Holdings in Devon Energy Corporation $DVN

Nomura Asset Management Co. Ltd. increased its stake in shares of Devon Energy Corporation (NYSE:DVN) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,977 shares of the energy company’s stock after acquiring an additional 3,503 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Devon Energy were worth $10,497,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Private Advisor Group LLC increased its holdings in shares of Devon Energy by 0.4% during the 1st quarter. Private Advisor Group LLC now owns 92,211 shares of the energy company’s stock valued at $3,449,000 after purchasing an additional 386 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in Devon Energy by 8.0% during the first quarter. Kestra Private Wealth Services LLC now owns 28,719 shares of the energy company’s stock valued at $1,074,000 after buying an additional 2,138 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in Devon Energy by 9.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 50,674 shares of the energy company’s stock valued at $1,895,000 after buying an additional 4,306 shares in the last quarter. HighPoint Advisor Group LLC raised its position in shares of Devon Energy by 163.3% in the first quarter. HighPoint Advisor Group LLC now owns 22,008 shares of the energy company’s stock worth $823,000 after acquiring an additional 13,648 shares during the period. Finally, Choreo LLC raised its position in shares of Devon Energy by 5.7% in the first quarter. Choreo LLC now owns 17,445 shares of the energy company’s stock worth $653,000 after acquiring an additional 944 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DVN. Susquehanna raised their target price on Devon Energy from $40.00 to $42.00 and gave the company a “positive” rating in a research report on Wednesday, November 12th. Mizuho lowered their price target on Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. BMO Capital Markets reduced their target price on Devon Energy from $51.00 to $50.00 in a research note on Tuesday, November 11th. Wells Fargo & Company dropped their price target on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Finally, Siebert Williams Shank reduced 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $43.79.

Devon Energy Trading Down 1.6%

Shares of DVN stock opened at $35.31 on Thursday. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $39.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The stock’s fifty day moving average is $33.96 and its two-hundred day moving average is $33.48. The firm has a market capitalization of $22.15 billion, a P/E ratio of 7.92, a PEG ratio of 2.49 and a beta of 1.01.

Devon Energy (NYSE:DVN) last released its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. During the same quarter in the prior year, the firm earned $1.10 earnings per share. Research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $0.24 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. Devon Energy’s dividend payout ratio is presently 22.59%.

Devon Energy Company 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.