GAM Holding AG Purchases 612 Shares of Devon Energy Corporation (DVN)
GAM Holding AG boosted its position in Devon Energy Corporation (NYSE:DVN) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 162,681 shares of the energy company’s stock after buying an additional 612 shares during the period. GAM Holding AG’s holdings in Devon Energy Corporation were worth $5,201,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Deltec Asset Management LLC increased its position in Devon Energy Corporation by 72.0% in the first quarter. Deltec Asset Management LLC now owns 10,750 shares of the energy company’s stock valued at $448,000 after buying an additional 4,500 shares during the last quarter. Meyer Handelman Co. boosted its stake in shares of Devon Energy Corporation by 9.7% in the first quarter. Meyer Handelman Co. now owns 272,600 shares of the energy company’s stock worth $11,374,000 after buying an additional 24,000 shares in the last quarter. First Midwest Bank Trust Division bought a new stake in shares of Devon Energy Corporation during the first quarter worth $572,000. Financial Architects Inc boosted its stake 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 worth $162,000 after buying an additional 3,263 shares in the last quarter. Finally, Paragon Capital Management Ltd bought a new stake in shares of Devon Energy Corporation during the first quarter worth $373,000. Institutional investors own 77.08% of the company’s stock.
Devon Energy Corporation (NYSE:DVN) opened at 31.16 on Friday. Devon Energy Corporation has a one year low of $28.79 and a one year high of $50.69. The stock’s 50 day moving average price is $31.66 and its 200-day moving average price is $36.76. The firm has a market capitalization of $16.38 billion, a price-to-earnings ratio of 7.05 and a beta of 2.17.
Devon Energy Corporation (NYSE:DVN) last issued its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The company’s revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. On average, equities research analysts anticipate that Devon Energy Corporation will post $1.74 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, September 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is 5.47%.
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DVN has been the subject of a number of recent research reports. Stifel Nicolaus set a $61.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada set a $43.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Friday. Cowen and Company reiterated a “buy” rating and issued a $37.00 price target on shares of Devon Energy Corporation in a research note on Tuesday. BidaskClub downgraded shares of Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Finally, Scotiabank set a $47.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $46.30.
In related news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction 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 owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.98% of the company’s stock.
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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