Devon Energy Corporation (DVN) Shares Sold by Van Strum & Towne Inc.
Van Strum & Towne Inc. lowered its position in shares of Devon Energy Corporation (NYSE:DVN) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 75,168 shares of the energy company’s stock after selling 135 shares during the period. Devon Energy Corporation makes up about 1.6% of Van Strum & Towne Inc.’s portfolio, making the stock its 28th largest position. Van Strum & Towne Inc.’s holdings in Devon Energy Corporation were worth $2,403,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. raised its stake in shares of Devon Energy Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 12,568 shares of the energy company’s stock worth $490,000 after buying an additional 488 shares during the period. Candriam Luxembourg S.C.A. raised its stake in shares of Devon Energy Corporation by 22.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 111,050 shares of the energy company’s stock worth $4,633,000 after buying an additional 20,354 shares during the period. OLD Point Trust & Financial Services N A raised its stake in shares of Devon Energy Corporation by 7.2% in the first quarter. OLD Point Trust & Financial Services N A now owns 39,432 shares of the energy company’s stock worth $1,645,000 after buying an additional 2,650 shares during the period. Navellier & Associates Inc bought a new stake in shares of Devon Energy Corporation during the first quarter worth $5,004,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Devon Energy Corporation during the first quarter worth $116,000. 77.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Devon Energy Corporation (NYSE:DVN) opened at 31.61 on Friday. The stock has a market capitalization of $16.61 billion, a price-to-earnings ratio of 7.15 and a beta of 2.17. The stock’s 50 day moving average is $31.79 and its 200 day moving average is $37.85. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69.
Devon Energy Corporation (NYSE:DVN) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. On average, equities analysts forecast that Devon Energy Corporation will post $1.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, September 14th. Devon Energy Corporation’s payout ratio is currently 5.47%.
A number of brokerages have recently weighed in on DVN. Royal Bank Of Canada set a $53.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Tuesday, April 25th. Barclays PLC reissued an “overweight” rating and set a $47.00 price objective (down from $54.00) on shares of Devon Energy Corporation in a report on Saturday, April 22nd. BMO Capital Markets reissued a “buy” rating and set a $45.00 price objective on shares of Devon Energy Corporation in a report on Wednesday, May 3rd. Credit Suisse Group boosted their price objective on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. Finally, KLR Group reissued a “buy” rating and set a $54.00 price objective (up from $52.00) on shares of Devon Energy Corporation in a report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company 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 Devon Energy Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the transaction, the director now owns 11,338 shares in the company, valued at $378,122.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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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