Devon Energy Corporation (DVN) Shares Sold by Dai Ichi Life Insurance Company Ltd
Dai Ichi Life Insurance Company Ltd decreased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 15.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,277 shares of the energy company’s stock after selling 1,375 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Devon Energy Corporation were worth $233,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp grew its stake in shares of Devon Energy Corporation by 10.4% during 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 last quarter. Global X Management Co. LLC grew its stake in shares of Devon Energy Corporation by 34.0% during 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 last quarter. Fiduciary Trust Co. purchased a new stake in shares of Devon Energy Corporation during the second quarter worth about $144,000. FNY Partners Fund LP grew its stake in shares of Devon Energy Corporation by 19,500.0% during 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 last quarter. Finally, Marathon Trading Investment Management LLC purchased a new stake in shares of Devon Energy Corporation during the first quarter worth about $209,000. Institutional investors and hedge funds own 76.99% of the company’s stock.
Devon Energy Corporation (DVN) opened at 33.65 on Monday. The firm has a market capitalization of $17.69 billion, a P/E ratio of 7.61 and a beta of 2.18. Devon Energy Corporation has a one year low of $28.79 and a one year high of $50.69. The firm has a 50-day moving average price of $31.89 and a 200-day moving average price of $35.54.
Devon Energy Corporation (NYSE:DVN) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the business posted $0.06 EPS. The company’s revenue was up 31.6% on a year-over-year basis. Equities analysts anticipate that Devon Energy Corporation will post $1.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.06 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.71%. Devon Energy Corporation’s dividend payout ratio (DPR) is currently 5.47%.
A number of equities research analysts have recently weighed in on the company. 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. BidaskClub upgraded Devon Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Barclays PLC restated an “overweight” rating and set a $35.00 price target (up previously from $31.00) on shares of Devon Energy Corporation in a research note on Thursday, August 3rd. Scotiabank set a $49.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Stifel Nicolaus restated a “buy” rating and set a $74.00 price target on shares of Devon Energy Corporation in a research note on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Devon Energy Corporation presently has an average rating of “Buy” and a consensus price target of $46.27.
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In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $33.35, for a total value of $234,950.75. Following the transaction, 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. 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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