Devon Energy Co. (DVN) Shares Sold by Lucas Capital Management
Lucas Capital Management lessened its position in shares of Devon Energy Co. (NYSE:DVN) by 70.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,100 shares of the energy company’s stock after selling 14,500 shares during the period. Lucas Capital Management’s holdings in Devon Energy were worth $224,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Point View Wealth Management Inc. lifted its holdings in shares of Devon Energy by 1.2% in the 2nd quarter. Point View Wealth Management Inc. now owns 8,334 shares of the energy company’s stock worth $266,000 after purchasing an additional 95 shares during the last quarter. Honkamp Krueger Financial Services Inc. lifted its holdings in shares of Devon Energy by 1.4% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock worth $225,000 after purchasing an additional 96 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Devon Energy by 1.1% in the 2nd quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock worth $297,000 after purchasing an additional 99 shares during the last quarter. Kanawha Capital Management LLC lifted its holdings in shares of Devon Energy by 0.3% in the 2nd quarter. Kanawha Capital Management LLC now owns 41,726 shares of the energy company’s stock worth $1,334,000 after purchasing an additional 130 shares during the last quarter. Finally, Pillar Pacific Capital Management LLC lifted its holdings in shares of Devon Energy by 0.7% in the 2nd quarter. Pillar Pacific Capital Management LLC now owns 29,810 shares of the energy company’s stock worth $953,000 after purchasing an additional 200 shares during the last quarter. 77.27% of the stock is currently owned by institutional investors.
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Devon Energy Co. (DVN) traded down $0.79 on Monday, hitting $39.62. The stock had a trading volume of 2,625,819 shares, compared to its average volume of 4,803,036. The company has a market cap of $21,000.00, a price-to-earnings ratio of 27.68, a PEG ratio of 1.28 and a beta of 2.22. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. Devon Energy Co. has a 1-year low of $28.79 and a 1-year high of $50.69.
Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.07. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company posted $1.89 EPS. equities research analysts expect that Devon Energy Co. will post 1.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Thursday, December 14th. Devon Energy’s dividend payout ratio is presently 8.16%.
Several brokerages recently issued reports on DVN. Barclays PLC reissued an “overweight” rating and issued a $35.00 price target (up previously from $31.00) on shares of Devon Energy in a report on Wednesday, August 9th. Stephens upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research report on Thursday, November 2nd. Scotiabank set a $49.00 target price on Devon Energy and gave the company a “buy” rating in a research report on Monday, July 31st. Cowen and Company restated a “buy” rating and issued a $40.00 target price on shares of Devon Energy in a research report on Thursday, September 28th. Finally, BMO Capital Markets set a $45.00 target price on Devon Energy and gave the company a “buy” rating in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $45.89.
Devon Energy 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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