Devon Energy Corporation (DVN) Holdings Raised by Investec Asset Management LTD
Investec Asset Management LTD raised its position in Devon Energy Corporation (NYSE:DVN) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 639,187 shares of the energy company’s stock after purchasing an additional 67,207 shares during the period. Investec Asset Management LTD owned 0.12% of Devon Energy Corporation worth $20,435,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Devon Energy Corporation by 10.4% in the 1st quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock valued at $110,000 after purchasing an additional 248 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Devon Energy Corporation in the 2nd quarter valued at approximately $144,000. Global X Management Co. LLC increased its position in shares of Devon Energy Corporation by 12.5% in the 2nd quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock valued at $145,000 after purchasing an additional 503 shares during the last quarter. Exane Derivatives increased its position in shares of Devon Energy Corporation by 36.0% in the 2nd quarter. Exane Derivatives now owns 5,650 shares of the energy company’s stock valued at $181,000 after purchasing an additional 1,497 shares during the last quarter. Finally, Dupont Capital Management Corp purchased a new stake in shares of Devon Energy Corporation in the 2nd quarter valued at approximately $184,000. 76.99% of the stock is currently owned by institutional investors.
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Devon Energy Corporation (NYSE DVN) traded down 0.68% during mid-day trading on Tuesday, hitting $33.74. 726,529 shares of the stock traded hands. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The firm has a market cap of $17.73 billion, a price-to-earnings ratio of 7.63 and a beta of 2.18. The stock has a 50-day moving average of $31.91 and a 200 day moving average of $35.35.
Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. On average, equities analysts expect that Devon Energy Corporation will post $1.74 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is 5.47%.
A number of brokerages have commented on DVN. Barclays PLC reissued an “overweight” rating and issued a $35.00 price objective (up from $31.00) on shares of Devon Energy Corporation in a research report on Wednesday, August 9th. Scotiabank set a $49.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. Piper Jaffray Companies dropped their price objective on shares of Devon Energy Corporation from $46.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday. Cowen and Company reissued a “buy” rating and issued a $37.00 price objective on shares of Devon Energy Corporation in a research report on Tuesday, August 22nd. Finally, BidaskClub downgraded shares of Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Devon Energy Corporation has an average rating of “Buy” and a consensus price target of $45.64.
In other news, Director Robert H. Henry sold 7,045 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 11,338 shares of the company’s stock, valued at $378,122.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.
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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