Xact Kapitalforvaltning AB increased its position in Devon Energy Corporation (NYSE:DVN) by 14.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,309 shares of the energy company’s stock after buying an additional 5,214 shares during the period. Xact Kapitalforvaltning AB’s holdings in Devon Energy Corporation were worth $1,321,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. DnB Asset Management AS boosted its position in Devon Energy Corporation by 6.0% in the second quarter. DnB Asset Management AS now owns 54,675 shares of the energy company’s stock worth $1,748,000 after buying an additional 3,100 shares during the period. Private Asset Management Inc. boosted its stake in shares of Devon Energy Corporation by 8.4% in the second quarter. Private Asset Management Inc. now owns 25,165 shares of the energy company’s stock worth $805,000 after buying an additional 1,954 shares during the last quarter. Park National Corp OH boosted its stake 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 worth $217,000 after buying an additional 54 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Devon Energy Corporation by 1.7% in the first quarter. Clearbridge Investments LLC now owns 2,142,865 shares of the energy company’s stock worth $89,400,000 after buying an additional 35,379 shares during the last quarter. Finally, Achmea Investment Management B.V. acquired a new stake in shares of Devon Energy Corporation during the first quarter worth about $1,719,000. 77.09% of the stock is owned by hedge funds and other institutional investors.
Shares of Devon Energy Corporation (NYSE DVN) opened at 31.65 on Monday. The stock has a market capitalization of $16.64 billion, a price-to-earnings ratio of 53.74 and a beta of 2.16. The company has a 50-day moving average price of $33.89 and a 200-day moving average price of $40.97. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69.
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Devon Energy Corporation (NYSE:DVN) last released its earnings results on Tuesday, May 2nd. The energy company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Devon Energy Corporation had a return on equity of 4.25% and a net margin of 2.34%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $2.98 billion. On average, equities analysts anticipate that Devon Energy Corporation will post $1.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, September 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is 43.64%.
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A number of brokerages have recently issued reports on DVN. BMO Capital Markets boosted their target price on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday. Zacks Investment Research cut shares of Devon Energy Corporation from a “hold” rating to a “sell” rating in a research report on Friday. Barclays PLC reaffirmed a “buy” rating and issued a $31.00 price target on shares of Devon Energy Corporation in a research note on Friday, July 7th. Sanford C. Bernstein downgraded Devon Energy Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $54.00 to $33.00 in a research note on Thursday, July 6th. Finally, BidaskClub raised Devon Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $49.10.
In other Devon Energy Corporation news, Director Robert A. Mosbacher, Jr. sold 800 shares of the business’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $39.18, for a total value of $31,344.00. Following the sale, the director now directly owns 23,308 shares of the company’s stock, valued at $913,207.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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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