Hoertkorn Richard Charles lifted its position in shares of Devon Energy Corporation (NYSE:DVN) by 16.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,015 shares of the energy company’s stock after purchasing an additional 4,925 shares during the period. Hoertkorn Richard Charles’ holdings in Devon Energy Corporation were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in DVN. Teachers Advisors LLC boosted its holdings in Devon Energy Corporation by 2.3% in the first quarter. Teachers Advisors LLC now owns 939,950 shares of the energy company’s stock valued at $39,215,000 after acquiring an additional 20,850 shares during the last quarter. Marathon Trading Investment Management LLC bought a new stake in Devon Energy Corporation in the first quarter valued at approximately $209,000. BlackRock Inc. boosted its holdings in Devon Energy Corporation by 3,279.8% in the first quarter. BlackRock Inc. now owns 46,398,296 shares of the energy company’s stock valued at $1,935,735,000 after acquiring an additional 45,025,477 shares during the last quarter. United Capital Financial Advisers LLC boosted its holdings in Devon Energy Corporation by 11.1% in the first quarter. United Capital Financial Advisers LLC now owns 77,988 shares of the energy company’s stock valued at $3,254,000 after acquiring an additional 7,793 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in Devon Energy Corporation by 3.0% in the first quarter. Amalgamated Bank now owns 32,686 shares of the energy company’s stock valued at $1,364,000 after acquiring an additional 941 shares during the last quarter. Institutional investors own 77.30% of the company’s stock.
In related news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corporation stock in a transaction that occurred 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 sale, the director now directly owns 11,338 shares in the company, valued at $378,122.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.51% of the company’s stock.
Several brokerages recently commented on DVN. Cowen and Company reiterated a “buy” rating and issued a $40.00 target price on shares of Devon Energy Corporation in a report on Thursday, September 28th. Stifel Nicolaus set a $66.00 target price on Devon Energy Corporation and gave the company a “buy” rating in a report on Thursday, October 5th. BMO Capital Markets set a $45.00 target price on Devon Energy Corporation and gave the company a “buy” rating in a 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 target price on the stock in a report on Monday, October 9th. Finally, Morgan Stanley upped their target price on Devon Energy Corporation from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $45.47.
Shares of Devon Energy Corporation (DVN) traded up 1.94% during trading on Tuesday, hitting $36.70. The stock had a trading volume of 2,511,833 shares. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The stock has a market capitalization of $19.29 billion, a price-to-earnings ratio of 8.30 and a beta of 2.21. The firm has a 50 day moving average price of $35.30 and a 200-day moving average price of $34.16.
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 the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the company posted $0.06 earnings per share. The firm’s revenue was up 31.6% on a year-over-year basis. On average, equities research analysts forecast that Devon Energy Corporation will post $1.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.67%. Devon Energy Corporation’s dividend payout ratio is presently 5.47%.
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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