Airain ltd Sells 137,359 Shares of Devon Energy Corp (DVN)
Airain ltd cut its position in shares of Devon Energy Corp (NYSE:DVN) by 28.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 340,528 shares of the energy company’s stock after selling 137,359 shares during the period. Airain ltd owned approximately 0.06% of Devon Energy Corp worth $10,887,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Devon Energy Corp by 3,279.8% in the first quarter. BlackRock Inc. now owns 46,398,296 shares of the energy company’s stock worth $1,935,735,000 after buying an additional 45,025,477 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Devon Energy Corp by 3.3% in the first quarter. Vanguard Group Inc. now owns 43,527,746 shares of the energy company’s stock worth $1,815,977,000 after buying an additional 1,385,334 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Devon Energy Corp by 3.3% in the first quarter. Artisan Partners Limited Partnership now owns 8,077,398 shares of the energy company’s stock worth $336,989,000 after buying an additional 255,610 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Devon Energy Corp by 36.6% in the first quarter. Bank of New York Mellon Corp now owns 6,311,065 shares of the energy company’s stock worth $263,297,000 after buying an additional 1,690,260 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Devon Energy Corp by 16.7% in the first quarter. Geode Capital Management LLC now owns 5,496,960 shares of the energy company’s stock worth $229,034,000 after buying an additional 786,562 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.
Devon Energy Corp (NYSE DVN) opened at 31.16 on Friday. Devon Energy Corp has a 12 month low of $28.79 and a 12 month high of $50.69. The company has a market cap of $16.38 billion, a PE ratio of 7.05 and a beta of 2.17. The company has a 50-day moving average of $31.66 and a 200 day moving average of $36.76.
Devon Energy Corp (NYSE:DVN) last released its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Devon Energy Corp had a net margin of 13.84% and a return on equity of 25.21%. Devon Energy Corp’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period last year, the business earned $0.06 EPS. On average, equities analysts forecast that Devon Energy Corp will post $1.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Thursday, September 14th. Devon Energy Corp’s dividend payout ratio (DPR) is presently 5.47%.
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A number of brokerages have weighed in on DVN. BMO Capital Markets increased their price target on Devon Energy Corp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Barclays PLC reiterated an “overweight” rating and set a $35.00 price target (up from $31.00) on shares of Devon Energy Corp in a report on Wednesday, August 9th. Seaport Global Securities downgraded Devon Energy Corp from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $51.00 to $28.00 in a report on Wednesday, June 21st. Credit Suisse Group increased their price target on Devon Energy Corp 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 price target on Devon Energy Corp and gave the stock a “buy” rating in a report on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $46.30.
In related news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corp 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 in the company, valued at approximately $378,122.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.98% of the stock is owned by company insiders.
About Devon Energy Corp
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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