BTR Capital Management Inc. lowered its position in Devon Energy Corporation (NYSE:DVN) by 1.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 50,195 shares of the energy company’s stock after selling 530 shares during the period. BTR Capital Management Inc.’s holdings in Devon Energy Corporation were worth $1,605,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. FTB Advisors Inc. boosted its position in Devon Energy Corporation by 84.2% in the first quarter. FTB Advisors Inc. now owns 2,755 shares of the energy company’s stock worth $108,000 after buying an additional 1,259 shares during the last quarter. Fifth Third Bancorp boosted its position in Devon Energy Corporation by 10.4% in the first quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock worth $110,000 after buying an additional 248 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Devon Energy Corporation during the first quarter worth about $116,000. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in Devon Energy Corporation by 88.9% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,400 shares of the energy company’s stock worth $142,000 after buying an additional 1,600 shares during the last quarter. Finally, Financial Architects Inc boosted its position in Devon Energy Corporation by 525.4% in the first quarter. Financial Architects Inc now owns 3,884 shares of the energy company’s stock worth $162,000 after buying an additional 3,263 shares during the last quarter. Hedge funds and other institutional investors own 77.27% of the company’s stock.
Devon Energy Corporation (DVN) traded down 0.47% on Friday, hitting $31.61. The stock had a trading volume of 3,587,892 shares. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The firm has a 50-day moving average of $31.74 and a 200 day moving average of $37.95. The company has a market capitalization of $16.61 billion, a price-to-earnings ratio of 7.15 and a beta of 2.17.
Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the prior year, the business earned $0.06 earnings per share. Devon Energy Corporation’s revenue for the quarter was up 31.6% compared to the same quarter last year. On average, analysts predict that Devon Energy Corporation will post $1.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, September 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is 5.47%.
A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price target on Devon Energy Corporation from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Barclays PLC reaffirmed an “overweight” rating and set a $47.00 target price (down from $54.00) on shares of Devon Energy Corporation in a research report on Saturday, April 22nd. Seaport Global Securities lowered Devon Energy Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $51.00 to $28.00 in a research report on Wednesday, June 21st. Credit Suisse Group upped their target price on Devon Energy Corporation from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. Finally, Scotiabank set a $57.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Devon Energy Corporation presently has an average rating of “Buy” and an average price target of $47.71.
In other news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total value of $234,950.75. Following the completion of the transaction, the director now owns 11,338 shares of the company’s stock, valued at $378,122.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate 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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