Xact Kapitalforvaltning AB increased its stake in shares of Devon Energy Corporation (NYSE:DVN) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,330 shares of the energy company’s stock after purchasing an additional 2,021 shares during the period. Xact Kapitalforvaltning AB’s holdings in Devon Energy Corporation were worth $1,591,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Sun Life Financial INC raised its position in shares of Devon Energy Corporation by 32,058.3% during the 2nd quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after purchasing an additional 3,847 shares during the last quarter. Fiduciary Trust Co. acquired a new position in shares of Devon Energy Corporation during the 2nd quarter worth approximately $144,000. Global X Management Co. LLC raised its position in shares of Devon Energy Corporation by 12.5% during the 2nd quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after purchasing an additional 503 shares during the last quarter. FNY Partners Fund LP raised its position in shares of Devon Energy Corporation by 19,500.0% during the 1st quarter. FNY Partners Fund LP now owns 4,900 shares of the energy company’s stock worth $204,000 after purchasing an additional 4,875 shares during the last quarter. Finally, Marathon Trading Investment Management LLC acquired a new position in shares of Devon Energy Corporation during the 1st quarter worth approximately $209,000. Hedge funds and other institutional investors own 77.18% of the company’s stock.
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Shares of Devon Energy Corporation (DVN) opened at 35.88 on Friday. The stock has a market capitalization of $18.86 billion, a PE ratio of 8.12 and a beta of 2.21. The stock’s 50 day moving average is $35.17 and its 200 day moving average is $34.31. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69.
Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. Devon Energy Corporation’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. Analysts anticipate that Devon Energy Corporation will post $1.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders 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 0.67%. Devon Energy Corporation’s dividend payout ratio is currently 5.47%.
In other news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $33.35, for a total transaction of $234,950.75. Following the transaction, the director now owns 11,338 shares in the company, valued at approximately $378,122.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is currently owned by company insiders.
Several research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Devon Energy Corporation from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. BMO Capital Markets set a $45.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Jefferies Group LLC upgraded Devon Energy Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Monday, October 9th. Stifel Nicolaus set a $66.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, Cowen and Company restated a “buy” rating and set a $40.00 price objective on shares of Devon Energy Corporation in a research report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. Devon Energy Corporation has a consensus rating of “Buy” and an average price target of $45.47.
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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