Worth Venture Partners LLC bought a new stake in shares of Devon Energy Corporation (NYSE:DVN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,620 shares of the energy company’s stock, valued at approximately $243,000.
Several other institutional investors have also made changes to their positions in DVN. Xact Kapitalforvaltning AB increased its position in shares of Devon Energy Corporation by 14.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 41,309 shares of the energy company’s stock valued at $1,321,000 after purchasing an additional 5,214 shares during the last quarter. Bank of Montreal Can increased its holdings in Devon Energy Corporation by 15.4% in the 2nd quarter. Bank of Montreal Can now owns 172,744 shares of the energy company’s stock worth $5,524,000 after acquiring an additional 23,061 shares during the last quarter. National Pension Service increased its holdings in Devon Energy Corporation by 10.6% in the 2nd quarter. National Pension Service now owns 457,232 shares of the energy company’s stock worth $14,545,000 after acquiring an additional 43,755 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in Devon Energy Corporation by 543.8% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 80,910 shares of the energy company’s stock worth $2,587,000 after acquiring an additional 68,342 shares during the last quarter. Finally, Westbourne Investment Advisors Inc. increased its holdings in Devon Energy Corporation by 4.8% in the 2nd quarter. Westbourne Investment Advisors Inc. now owns 11,525 shares of the energy company’s stock worth $368,000 after acquiring an additional 525 shares during the last quarter. 77.27% of the stock is owned by hedge funds and other institutional investors.
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Several brokerages recently weighed in on DVN. Stifel Nicolaus reissued 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 reissued 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 Devon Energy Corporation and gave the stock a “buy” rating in a report on Tuesday, October 10th. BidaskClub lowered 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 issued a $40.00 price objective on shares of Devon Energy Corporation in a report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $45.89.
Shares of Devon Energy Corporation (NYSE:DVN) traded down $1.19 on Tuesday, hitting $38.46. The stock had a trading volume of 2,350,500 shares, compared to its average volume of 4,802,487. The company has a market cap of $20,240.00, a P/E ratio of 27.68, a PEG ratio of 1.28 and a beta of 2.22. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69.
Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Devon Energy Corporation had a return on equity of 6.88% and a net margin of 11.62%. Devon Energy Corporation’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $1.89 EPS. equities research analysts expect that Devon Energy Corporation will post 1.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.62%. Devon Energy Corporation’s dividend payout ratio is 8.16%.
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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