Mn Services Vermogensbeheer B.V. boosted its stake in Devon Energy Corporation (NYSE:DVN) by 543.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,910 shares of the energy company’s stock after buying an additional 68,342 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Devon Energy Corporation were worth $2,587,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Gulf International Bank UK Ltd boosted its stake in shares of Devon Energy Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 145,818 shares of the energy company’s stock worth $6,083,000 after buying an additional 2,000 shares during the period. New England Research & Management Inc. acquired a new stake in shares of Devon Energy Corporation during the first quarter worth $561,000. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Devon Energy Corporation by 2.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 629,647 shares of the energy company’s stock worth $26,269,000 after buying an additional 13,072 shares during the period. Triangle Securities Wealth Management boosted its stake in shares of Devon Energy Corporation by 4.4% in the first quarter. Triangle Securities Wealth Management now owns 10,109 shares of the energy company’s stock worth $422,000 after buying an additional 430 shares during the period. Finally, Private Asset Management Inc. raised its position in shares of Devon Energy Corporation by 3.5% in the first quarter. Private Asset Management Inc. now owns 23,211 shares of the energy company’s stock worth $968,000 after buying an additional 786 shares in the last quarter. 77.27% of the stock is owned by institutional investors.
Devon Energy Corporation (NYSE:DVN) traded down 0.47% during mid-day trading on Friday, reaching $31.61. 3,588,192 shares of the company’s stock traded hands. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The firm has a 50 day moving average of $31.79 and a 200 day moving average of $37.85. The firm has a market cap of $16.61 billion, a PE ratio of 7.15 and a beta of 2.17.
Devon Energy Corporation (NYSE:DVN) last released its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping 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 firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was up 31.6% on a year-over-year basis. Analysts forecast that Devon Energy Corporation will post $1.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.06 per share. 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 payout ratio is currently 5.47%.
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DVN has been the topic of several research reports. TheStreet upgraded shares of Devon Energy Corporation from a “d+” rating to a “c” rating in a research note on Tuesday, May 2nd. Credit Suisse Group upped their target price on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. Royal Bank Of Canada set a $53.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, May 29th. Bank of America Corporation restated a “buy” rating on shares of Devon Energy Corporation in a research report on Thursday, May 11th. Finally, Scotiabank set a $57.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $47.71.
In other news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the transaction, the director now directly owns 11,338 shares of the company’s stock, valued at $378,122.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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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