Daiwa Securities Group Inc. Purchases 1,964 Shares of Devon Energy Corporation (DVN)
Daiwa Securities Group Inc. grew its stake in shares of Devon Energy Corporation (NYSE:DVN) by 14.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,364 shares of the energy company’s stock after acquiring an additional 1,964 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Devon Energy Corporation were worth $564,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sun Life Financial INC increased its holdings in shares of Devon Energy Corporation by 32,058.3% during the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock valued at $123,000 after acquiring an additional 3,847 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of Devon Energy Corporation during the second quarter valued at about $144,000. Global X Management Co. LLC increased its holdings in shares of Devon Energy Corporation by 12.5% during the second quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock valued at $145,000 after acquiring an additional 503 shares in the last quarter. Exane Derivatives boosted its position in Devon Energy Corporation by 36.0% in the second quarter. Exane Derivatives now owns 5,650 shares of the energy company’s stock valued at $181,000 after buying an additional 1,497 shares during the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in Devon Energy Corporation by 67.6% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock valued at $182,000 after buying an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 77.27% of the company’s stock.
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Devon Energy Corporation (NYSE DVN) opened at $39.65 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $21,215.25, a PE ratio of 27.68, a PEG ratio of 1.28 and a beta of 2.22. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69.
Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. Devon Energy Corporation had a return on equity of 6.88% and a net margin of 11.62%. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the business posted $1.89 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. sell-side analysts expect that Devon Energy Corporation will post 1.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.61%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is 8.19%.
A number of brokerages recently commented on DVN. Stifel Nicolaus reiterated a “buy” rating and issued a $67.00 target price on shares of Devon Energy Corporation in a research report on Sunday, September 3rd. Barclays PLC restated an “overweight” rating and issued a $35.00 price objective (up previously from $31.00) on shares of Devon Energy Corporation in a research report on Wednesday, August 9th. BMO Capital Markets set a $45.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Tuesday, October 10th. BidaskClub lowered Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Finally, Cowen and Company reiterated a “buy” rating and set a $40.00 target price on shares of Devon Energy Corporation in a research report on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. Devon Energy Corporation currently has a consensus rating of “Buy” and a consensus price target of $45.89.
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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