Wafra Investment Advisory Group Inc. NY Increases Stake in Devon Energy Corporation (DVN)

Wafra Investment Advisory Group Inc. NY grew its stake in shares of Devon Energy Corporation (NYSE:DVN) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 367,577 shares of the energy company’s stock after purchasing an additional 18,614 shares during the period. Wafra Investment Advisory Group Inc. NY owned approximately 0.07% of Devon Energy Corporation worth $11,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Devon Energy Corporation by 5.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 57,368 shares of the energy company’s stock valued at $1,834,000 after purchasing an additional 2,775 shares during the period. TVR Capital Management LP raised its holdings in shares of Devon Energy Corporation by 121.8% during the second quarter. TVR Capital Management LP now owns 240,000 shares of the energy company’s stock valued at $7,673,000 after purchasing an additional 131,806 shares during the period. BlueCrest Capital Management Ltd acquired a new position in shares of Devon Energy Corporation during the second quarter valued at about $1,397,000. State Street Corp raised its holdings in shares of Devon Energy Corporation by 1.0% during the second quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock valued at $884,702,000 after purchasing an additional 265,179 shares during the period. Finally, Dana Investment Advisors Inc. raised its holdings in shares of Devon Energy Corporation by 53.5% during the second quarter. Dana Investment Advisors Inc. now owns 75,639 shares of the energy company’s stock valued at $2,418,000 after purchasing an additional 26,359 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corporation stock in a transaction dated Friday, August 4th. The shares were 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 directly owns 11,338 shares of the company’s stock, valued at $378,122.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is currently owned by insiders.

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Several brokerages have recently weighed in on DVN. BMO Capital Markets upped their price objective on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating and set a $67.00 price objective on shares of Devon Energy Corporation in a report on Sunday, September 3rd. Barclays PLC reiterated an “overweight” rating and set a $35.00 price objective (up previously from $31.00) on shares of Devon Energy Corporation in a report on Wednesday, August 9th. Seaport Global Securities lowered shares of Devon Energy Corporation from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $51.00 to $28.00 in a report on Wednesday, June 21st. Finally, Sanford C. Bernstein lowered shares of Devon Energy Corporation from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $54.00 to $33.00 in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. Devon Energy Corporation currently has a consensus rating of “Buy” and an average target price of $46.00.

Shares of Devon Energy Corporation (DVN) traded up 1.64% during midday trading on Tuesday, reaching $36.48. 1,510,261 shares of the company’s stock were exchanged. The stock has a market capitalization of $19.17 billion, a P/E ratio of 8.25 and a beta of 2.21. The firm has a 50-day moving average of $33.68 and a 200-day moving average of $34.81. 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 issued its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. Analysts anticipate that Devon Energy Corporation will post $1.73 EPS 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 of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a yield of 0.67%. Devon Energy Corporation’s dividend payout ratio (DPR) is presently 5.47%.

Devon Energy Corporation Company 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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Institutional Ownership by Quarter for Devon Energy Corporation (NYSE:DVN)

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