Devon Energy Corporation $DVN Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its stake in Devon Energy Corporation (NYSE:DVN) by 185.1% during the second quarter, Holdings Channel.com reports. The firm owned 223,754 shares of the energy company’s stock after purchasing an additional 145,266 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Devon Energy were worth $7,118,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DVN. Ameriprise Financial Inc. raised its position in Devon Energy by 81.1% in the 1st quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock valued at $188,131,000 after purchasing an additional 2,252,918 shares in the last quarter. Vanguard Group Inc. raised its position in Devon Energy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock valued at $3,096,000,000 after purchasing an additional 2,098,568 shares in the last quarter. Nuveen LLC acquired a new stake in Devon Energy in the 1st quarter valued at about $69,975,000. AQR Capital Management LLC raised its position in shares of Devon Energy by 100.0% during the 1st quarter. AQR Capital Management LLC now owns 3,558,362 shares of the energy company’s stock worth $132,051,000 after acquiring an additional 1,779,382 shares in the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of Devon Energy during the 1st quarter worth about $63,561,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the transaction, the director directly owned 31,801 shares in the company, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the topic of several research analyst reports. Scotiabank reissued an “outperform” rating on shares of Devon Energy in a research report on Thursday, October 9th. Siebert Williams Shank cut their target price on Devon Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Barclays cut their target price on Devon Energy from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. William Blair initiated coverage on Devon Energy in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Finally, Roth Capital initiated coverage on Devon Energy in a research report on Monday, October 13th. They set a “buy” rating and a $42.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.14.

Devon Energy Trading Down 0.1%

DVN opened at $32.95 on Tuesday. The firm has a market cap of $20.91 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 2.55 and a beta of 1.03. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $40.54. The business’s 50 day moving average is $34.42 and its two-hundred day moving average is $33.06. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, research analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is 21.52%.

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.