Numeric Investors LLC Acquires 82,400 Shares of Devon Energy Corporation (DVN)
Numeric Investors LLC increased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 200.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,600 shares of the energy company’s stock after acquiring an additional 82,400 shares during the quarter. Numeric Investors LLC’s holdings in Devon Energy Corporation were worth $3,951,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. boosted its position in Devon Energy Corporation by 3,279.8% during the first quarter. BlackRock Inc. now owns 46,398,296 shares of the energy company’s stock worth $1,935,735,000 after acquiring an additional 45,025,477 shares during the last quarter. Vanguard Group Inc. boosted its position in Devon Energy Corporation by 3.0% during the second quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock worth $1,432,998,000 after acquiring an additional 1,295,417 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in Devon Energy Corporation by 3.3% during the first quarter. Artisan Partners Limited Partnership now owns 8,077,398 shares of the energy company’s stock worth $336,989,000 after acquiring an additional 255,610 shares during the last quarter. Standard Life Investments LTD boosted its position in Devon Energy Corporation by 1.3% during the second quarter. Standard Life Investments LTD now owns 6,054,868 shares of the energy company’s stock worth $193,604,000 after acquiring an additional 75,952 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Devon Energy Corporation by 0.3% during the second quarter. Northern Trust Corp now owns 5,955,294 shares of the energy company’s stock worth $190,390,000 after acquiring an additional 18,861 shares during the last quarter. Hedge funds and other institutional investors own 77.00% of the company’s stock.
A number of equities analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $67.00 target price on shares of Devon Energy Corporation in a report on Sunday, September 3rd. Barclays PLC reiterated an “overweight” rating and issued a $35.00 target price (up from $31.00) on shares of Devon Energy Corporation in a report on Wednesday, August 9th. Seaport Global Securities lowered shares of Devon Energy Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the company from $51.00 to $28.00 in a report on Wednesday, June 21st. Finally, Sanford C. Bernstein lowered shares of Devon Energy Corporation from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $54.00 to $33.00 in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.35.
Shares of Devon Energy Corporation (NYSE DVN) opened at 35.86 on Thursday. The stock has a 50 day moving average of $33.20 and a 200-day moving average of $34.93. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The stock has a market capitalization of $18.85 billion, a P/E ratio of 8.11 and a beta of 2.21.
Devon Energy Corporation (NYSE:DVN) last released its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 31.6% on a year-over-year basis. Equities research analysts predict that Devon Energy Corporation will post $1.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.06 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.67%. Devon Energy Corporation’s dividend payout ratio is presently 5.47%.
In related news, Director Robert H. Henry sold 7,045 shares of the firm’s 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 sale, the director now directly owns 11,338 shares of the company’s stock, valued at $378,122.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is currently owned by company insiders.
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Devon Energy Corporation 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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