Polianta Ltd Acquires New Position in Devon Energy Corporation (DVN)
Polianta Ltd acquired a new stake in Devon Energy Corporation (NYSE:DVN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 31,400 shares of the energy company’s stock, valued at approximately $1,299,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Devon Energy by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock valued at $1,432,998,000 after purchasing an additional 1,295,417 shares during the last quarter. State Street Corp increased its stake in shares of Devon Energy by 1.0% in the 2nd quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock worth $884,702,000 after acquiring an additional 265,179 shares during the last quarter. Standard Life Investments LTD increased its stake in shares of Devon Energy by 1.3% in the 2nd 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. Northern Trust Corp increased its stake in shares of Devon Energy by 0.3% in the 2nd 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. Finally, Victory Capital Management Inc. increased its stake in shares of Devon Energy by 21.6% in the 3rd quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock worth $204,501,000 after acquiring an additional 988,090 shares during the last quarter. 77.44% of the stock is owned by hedge funds and other institutional investors.
Shares of Devon Energy Corporation (NYSE:DVN) traded up $0.14 during trading hours on Tuesday, hitting $43.25. The company had a trading volume of 3,595,900 shares, compared to its average volume of 4,050,560. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. The firm has a market cap of $22,600.00, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 2.56 and a beta of 2.21. Devon Energy Corporation has a 1 year low of $28.79 and a 1 year high of $48.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s payout ratio is 8.16%.
A number of analysts have issued reports on the company. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $42.00 target price on shares of Devon Energy in a research note on Tuesday. Barclays reaffirmed a “buy” rating and issued a $39.00 target price on shares of Devon Energy in a research note on Sunday, December 24th. Jefferies Group set a $46.00 target price on Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Royal Bank of Canada set a $47.00 target price on Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Credit Suisse Group assumed coverage on Devon Energy in a research note on Monday, December 11th. They issued an “outperform” rating and a $43.00 target price for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $46.06.
In related news, EVP Lyndon C. Taylor sold 12,798 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.29, for a total transaction of $490,035.42. Following the completion of the sale, the executive vice president now directly owns 67,900 shares of the company’s stock, valued at approximately $2,599,891. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is currently owned by company insiders.
About Devon Energy
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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