HL Financial Services LLC lessened its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 14.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,575 shares of the energy company’s stock after selling 1,659 shares during the period. HL Financial Services LLC’s holdings in Devon Energy Corporation were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Sun Life Financial INC increased its holdings in Devon Energy Corporation by 32,058.3% in the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock valued at $123,000 after buying an additional 3,847 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Devon Energy Corporation in the second quarter valued at $144,000. Global X Management Co. LLC increased its holdings in Devon Energy Corporation by 12.5% in the second quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock valued at $145,000 after buying an additional 503 shares in the last quarter. Exane Derivatives increased its holdings in Devon Energy Corporation by 36.0% in the second quarter. Exane Derivatives now owns 5,650 shares of the energy company’s stock valued at $181,000 after buying an additional 1,497 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co increased its holdings in Devon Energy Corporation by 67.6% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock valued at $182,000 after buying an additional 2,300 shares in the last quarter. 77.27% of the stock is owned by hedge funds and other institutional investors.
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Devon Energy Corporation (NYSE:DVN) last posted its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.07. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Devon Energy Corporation had a net margin of 11.62% and a return on equity of 6.88%. Devon Energy Corporation’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 EPS. equities research analysts predict that Devon Energy Corporation will post 1.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.06 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.24 annualized dividend and a yield of 0.61%. Devon Energy Corporation’s payout ratio is 8.19%.
A number of research analysts have weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Devon Energy Corporation in a report on Sunday, September 3rd. Barclays PLC reaffirmed an “overweight” rating and issued a $35.00 price objective (up previously from $31.00) on shares of Devon Energy Corporation in a report on Wednesday, August 9th. BMO Capital Markets set a $45.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Tuesday, October 10th. BidaskClub cut shares of Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Finally, Cowen and Company reissued a “buy” rating and set a $40.00 target price on shares of Devon Energy Corporation in a research note on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $45.89.
Devon Energy Corporation 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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