FDx Advisors Inc. Sells 17,531 Shares of Devon Energy Corp (DVN)
FDx Advisors Inc. cut its stake in shares of Devon Energy Corp (NYSE:DVN) by 62.9% in the second quarter, HoldingsChannel.com reports. The fund owned 10,347 shares of the energy company’s stock after selling 17,531 shares during the period. FDx Advisors Inc.’s holdings in Devon Energy were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in DVN. Rockefeller Capital Management L.P. bought a new position in Devon Energy in the 1st quarter worth approximately $362,000. Blair William & Co. IL boosted its stake in Devon Energy by 5.5% in the 1st quarter. Blair William & Co. IL now owns 24,811 shares of the energy company’s stock worth $789,000 after purchasing an additional 1,283 shares during the period. Norinchukin Bank The boosted its stake in Devon Energy by 14.7% in the 1st quarter. Norinchukin Bank The now owns 48,207 shares of the energy company’s stock worth $1,533,000 after purchasing an additional 6,191 shares during the period. Freestone Capital Holdings LLC boosted its stake in Devon Energy by 12.4% in the 1st quarter. Freestone Capital Holdings LLC now owns 29,569 shares of the energy company’s stock worth $940,000 after purchasing an additional 3,253 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in Devon Energy by 185.4% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 42,927 shares of the energy company’s stock worth $1,365,000 after purchasing an additional 27,887 shares during the period. Institutional investors own 84.00% of the company’s stock.
In related news, Director Robert H. Henry sold 5,600 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $42.14, for a total transaction of $235,984.00. Following the sale, the director now owns 9,704 shares in the company, valued at approximately $408,926.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Bethancourt purchased 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 7th. The shares were bought at an average price of $41.90 per share, for a total transaction of $502,800.00. Following the acquisition, the director now directly owns 56,469 shares in the company, valued at approximately $2,366,051.10. The disclosure for this purchase can be found here. Corporate insiders own 0.55% of the company’s stock.
Shares of DVN opened at $43.13 on Friday. The company has a market cap of $21.63 billion, a PE ratio of 30.80, a PEG ratio of 4.02 and a beta of 2.18. Devon Energy Corp has a 1 year low of $29.83 and a 1 year high of $46.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.65 and a current ratio of 1.65.
Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, July 31st. The energy company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). Devon Energy had a positive return on equity of 5.52% and a negative net margin of 1.60%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the company earned $0.80 earnings per share. equities analysts forecast that Devon Energy Corp will post 1.51 EPS for the current fiscal year.
Devon Energy announced that its board has authorized a stock buyback plan on Wednesday, June 6th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 14.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.74%. Devon Energy’s payout ratio is presently 50.79%.
Devon Energy Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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