Devon Energy Corporation (DVN) Shares Sold by Private Advisor Group LLC
Private Advisor Group LLC decreased its holdings in Devon Energy Corporation (NYSE:DVN) by 13.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,211 shares of the energy company’s stock after selling 4,553 shares during the quarter. Private Advisor Group LLC’s holdings in Devon Energy Corporation were worth $839,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its stake in Devon Energy Corporation by 10.4% in the first quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock worth $110,000 after acquiring an additional 248 shares during the period. State of Alaska Department of Revenue purchased a new stake in Devon Energy Corporation in the first quarter worth $116,000. Global X Management Co. LLC lifted its stake in Devon Energy Corporation by 34.0% in the first quarter. Global X Management Co. LLC now owns 4,036 shares of the energy company’s stock worth $168,000 after acquiring an additional 1,025 shares during the period. Fiduciary Trust Co. purchased a new stake in Devon Energy Corporation in the second quarter worth $144,000. Finally, FNY Partners Fund LP lifted its stake in Devon Energy Corporation by 19,500.0% in the first quarter. FNY Partners Fund LP now owns 4,900 shares of the energy company’s stock worth $204,000 after acquiring an additional 4,875 shares during the period. 77.00% of the stock is owned by institutional investors.
In related news, Director Robert H. Henry sold 7,045 shares of the company’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 completion of the sale, the director now directly owns 11,338 shares in the company, valued at approximately $378,122.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.98% of the company’s stock.
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A number of analysts recently commented on DVN shares. Scotiabank set a $49.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Saturday, July 1st. KLR Group reaffirmed a “buy” rating and issued a $54.00 price target (up previously from $52.00) on shares of Devon Energy Corporation in a research note on Monday, May 15th. BMO Capital Markets set a $42.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, May 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 price target on shares of Devon Energy Corporation in a research note on Tuesday, June 6th. Finally, Royal Bank Of Canada set a $53.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, May 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Devon Energy Corporation has a consensus rating of “Buy” and an average price target of $46.27.
Devon Energy Corporation (NYSE:DVN) opened at 31.81 on Tuesday. The stock’s 50 day moving average price is $31.83 and its 200 day moving average price is $35.74. 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 $16.72 billion, a P/E ratio of 7.20 and a beta of 2.18.
Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The firm’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. Equities analysts anticipate that Devon Energy Corporation will post $1.74 EPS for the current fiscal year.
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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