Fox Run Management L.L.C. lessened its stake in shares of Devon Energy Corporation (NYSE:DVN) by 12.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,000 shares of the energy company’s stock after selling 1,700 shares during the period. Fox Run Management L.L.C.’s holdings in Devon Energy Corporation were worth $441,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. River & Mercantile Asset Management LLP increased its holdings in Devon Energy Corporation by 9.9% during the third quarter. River & Mercantile Asset Management LLP now owns 200,400 shares of the energy company’s stock worth $7,358,000 after buying an additional 18,053 shares during the last quarter. APG Asset Management N.V. increased its holdings in Devon Energy Corporation by 34.6% during the third quarter. APG Asset Management N.V. now owns 254,179 shares of the energy company’s stock worth $9,331,000 after buying an additional 65,400 shares during the last quarter. Deane Retirement Strategies Inc. purchased a new stake in Devon Energy Corporation during the third quarter worth about $1,731,000. Robeco Institutional Asset Management B.V. increased its holdings in Devon Energy Corporation by 226.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 22,731 shares of the energy company’s stock worth $834,000 after buying an additional 15,764 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Devon Energy Corporation during the third quarter worth about $8,093,000. Institutional investors and hedge funds own 77.30% of the company’s stock.
In related news, Director Robert H. Henry sold 7,045 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.51% of the company’s stock.
A number of research firms recently issued reports on DVN. Cowen and Company set a $40.00 price objective on shares of Devon Energy Corporation and gave the stock a “buy” rating in a report on Tuesday. Barclays PLC restated 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. Scotiabank set a $49.00 price objective on shares of Devon Energy Corporation and gave the stock a “buy” rating in a report on Monday, July 31st. BMO Capital Markets set a $45.00 price objective on shares of Devon Energy Corporation and gave the stock a “buy” rating in a report on Tuesday, October 10th. Finally, BidaskClub downgraded shares of Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $45.47.
Devon Energy Corporation (NYSE:DVN) opened at 36.90 on Wednesday. The stock has a market cap of $19.39 billion, a PE ratio of 8.35 and a beta of 2.21. The company’s 50-day moving average is $35.44 and its 200 day moving average is $34.18. 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 earnings results on Tuesday, October 31st. The energy company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 EPS. On average, analysts expect that Devon Energy Corporation will post $1.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio is 5.47%.
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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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