Devon Energy Corp. (DVN) Shares Sold by Advisors Asset Management Inc.
Advisors Asset Management Inc. decreased its stake in shares of Devon Energy Corp. (NYSE:DVN) by 16.2% during the second quarter, Holdings Channel reports. The institutional investor owned 3,944 shares of the energy company’s stock after selling 760 shares during the period. Advisors Asset Management Inc.’s holdings in Devon Energy Corp. were worth $143,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Ropes Wealth Advisors LLC raised its stake in Devon Energy Corp. by 738.7% in the second quarter. Ropes Wealth Advisors LLC now owns 3,338 shares of the energy company’s stock valued at $121,000 after buying an additional 2,940 shares in the last quarter. Hall Laurie J Trustee raised its stake in Devon Energy Corp. by 13.7% in the second quarter. Hall Laurie J Trustee now owns 3,745 shares of the energy company’s stock valued at $141,000 after buying an additional 450 shares in the last quarter. RS Investment Management Co. LLC acquired a new stake in Devon Energy Corp. during the second quarter valued at about $144,000. Botty Investors LLC raised its stake in Devon Energy Corp. by 181.8% in the second quarter. Botty Investors LLC now owns 4,650 shares of the energy company’s stock valued at $169,000 after buying an additional 3,000 shares in the last quarter. Finally, Hallmark Capital Management Inc. acquired a new stake in Devon Energy Corp. during the second quarter valued at about $170,000. 75.62% of the stock is owned by institutional investors.
Devon Energy Corp. (NYSE:DVN) traded down 1.56% during trading on Friday, reaching $42.80. 1,911,346 shares of the company’s stock traded hands. The company has a 50-day moving average of $42.94 and a 200 day moving average of $36.84. The stock’s market capitalization is $22.41 billion. Devon Energy Corp. has a 12 month low of $18.07 and a 12 month high of $48.68.
Devon Energy Corp. (NYSE:DVN) last released its earnings results on Tuesday, August 2nd. The energy company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.25. Devon Energy Corp. had a negative net margin of 114.09% and a positive return on equity of 3.62%. The firm earned $2.49 billion during the quarter, compared to analyst estimates of $2.29 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was down 26.7% compared to the same quarter last year. On average, equities research analysts expect that Devon Energy Corp. will post ($0.29) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Tuesday, December 13th. Devon Energy Corp.’s dividend payout ratio (DPR) is -0.82%.
Several equities research analysts have issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of Devon Energy Corp. in a research note on Sunday, July 17th. Morgan Stanley set a $54.00 price target on Devon Energy Corp. and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Wunderlich lifted their price target on Devon Energy Corp. from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, June 16th. BMO Capital Markets reaffirmed a “buy” rating and set a $40.00 price target (up previously from $35.00) on shares of Devon Energy Corp. in a research note on Monday, June 13th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Devon Energy Corp. in a research note on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $42.09.
About Devon Energy Corp.
Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.
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