Guinness Atkinson Asset Management Inc Has $1,074,000 Stake in Devon Energy Corporation (NYSE:DVN)
Guinness Atkinson Asset Management Inc continued to hold its stake in shares of Devon Energy Corporation (NYSE:DVN) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 33,600 shares of the energy company’s stock at the end of the second quarter. Guinness Atkinson Asset Management Inc’s holdings in Devon Energy Corporation were worth $1,074,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. FTB Advisors Inc. boosted its position in shares of Devon Energy Corporation by 84.2% in the first quarter. FTB Advisors Inc. now owns 2,755 shares of the energy company’s stock valued at $108,000 after buying an additional 1,259 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Devon Energy Corporation by 10.4% in the first quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock valued at $110,000 after buying an additional 248 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Devon Energy Corporation during the first quarter valued at approximately $116,000. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of Devon Energy Corporation by 88.9% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,400 shares of the energy company’s stock valued at $142,000 after buying an additional 1,600 shares during the last quarter. Finally, Financial Architects Inc boosted its position in shares of Devon Energy Corporation by 525.4% in the first quarter. Financial Architects Inc now owns 3,884 shares of the energy company’s stock valued at $162,000 after buying an additional 3,263 shares during the last quarter. 77.27% of the stock is owned by institutional investors.
Devon Energy Corporation (NYSE:DVN) traded down 0.80% during midday trading on Tuesday, reaching $32.14. 6,161,430 shares of the company traded hands. The stock’s 50 day moving average is $31.63 and its 200 day moving average is $38.36. Devon Energy Corporation has a one year low of $28.79 and a one year high of $50.69. The company has a market capitalization of $16.91 billion, a price-to-earnings ratio of 7.21 and a beta of 2.17.
Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the business earned $0.06 earnings per share. The business’s quarterly revenue was up 31.6% on a year-over-year basis. On average, equities analysts anticipate that Devon Energy Corporation will post $1.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Thursday, September 14th. Devon Energy Corporation’s payout ratio is currently 5.47%.
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Several research analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Barclays PLC restated an “overweight” rating and set a $47.00 target price (down previously from $54.00) on shares of Devon Energy Corporation in a report on Saturday, April 22nd. Seaport Global Securities cut shares of Devon Energy Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $51.00 to $28.00 in a report on Wednesday, June 21st. Credit Suisse Group increased their target price on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, May 4th. Finally, Scotiabank set a $57.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a report on Tuesday, May 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $47.71.
In other Devon Energy Corporation 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 transaction of $234,950.75. Following the transaction, the director now directly owns 11,338 shares in the company, valued at $378,122.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is owned by company insiders.
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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