Devon Energy Corporation (DVN) Shares Bought by Cullen Frost Bankers Inc.
Cullen Frost Bankers Inc. increased its position in Devon Energy Corporation (NYSE:DVN) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 6,491 shares of the energy company’s stock after buying an additional 222 shares during the period. Cullen Frost Bankers Inc.’s holdings in Devon Energy Corporation were worth $208,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in DVN. Gulf International Bank UK Ltd boosted its position in Devon Energy Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 145,818 shares of the energy company’s stock worth $6,083,000 after buying an additional 2,000 shares during the period. Honkamp Krueger Financial Services Inc. boosted its stake in shares of Devon Energy Corporation by 1.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 6,952 shares of the energy company’s stock worth $290,000 after buying an additional 120 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Devon Energy Corporation during the first quarter worth about $1,267,000. Viking Fund Management LLC boosted its stake in shares of Devon Energy Corporation by 32.1% in the first quarter. Viking Fund Management LLC now owns 370,000 shares of the energy company’s stock worth $15,436,000 after buying an additional 90,000 shares during the last quarter. Finally, Washington Trust Bank boosted its stake in shares of Devon Energy Corporation by 48.6% in the first quarter. Washington Trust Bank now owns 4,700 shares of the energy company’s stock worth $196,000 after buying an additional 1,538 shares during the last quarter. 77.27% of the stock is owned by hedge funds and other institutional investors.
Devon Energy Corporation (DVN) opened at 32.08 on Thursday. The firm’s 50-day moving average price is $31.70 and its 200 day moving average price is $38.00. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The firm has a market cap of $16.87 billion, a P/E ratio of 7.19 and a beta of 2.17.
Devon Energy Corporation (NYSE:DVN) last issued its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the company earned $0.06 EPS. The firm’s revenue was up 31.6% compared to the same quarter last year. Equities analysts forecast that Devon Energy Corporation will post $1.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.75%. Devon Energy Corporation’s payout ratio is currently 5.47%.
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A number of brokerages have recently issued reports on DVN. Barclays PLC reissued an “overweight” rating and issued a $35.00 target price (up previously from $31.00) on shares of Devon Energy Corporation in a research report on Wednesday. Scotiabank set a $49.00 target price on shares of Devon Energy Corporation and gave the company a “buy” rating in a research report on Monday, July 31st. BidaskClub cut shares of Devon Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Citigroup Inc. reduced their target price on shares of Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $43.00 target price on shares of Devon Energy Corporation in a research report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.71.
In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total value of $234,950.75. Following the sale, the director now owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.98% of the company’s stock.
Devon Energy Corporation Company 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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