Devon Energy Corporation (DVN) Shares Sold by Laurion Capital Management LP
Laurion Capital Management LP cut its holdings in Devon Energy Corporation (NYSE:DVN) by 19.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,700 shares of the energy company’s stock after selling 26,300 shares during the period. Laurion Capital Management LP’s holdings in Devon Energy Corporation were worth $3,571,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Investec Asset Management LTD raised its position in shares of Devon Energy Corporation by 6.5% in the 1st quarter. Investec Asset Management LTD now owns 571,980 shares of the energy company’s stock worth $23,863,000 after acquiring an additional 35,008 shares in the last quarter. Shapiro Capital Management LLC raised its position in shares of Devon Energy Corporation by 2.2% in the 1st quarter. Shapiro Capital Management LLC now owns 1,306,283 shares of the energy company’s stock worth $54,498,000 after acquiring an additional 28,695 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Devon Energy Corporation by 2.3% in the 1st quarter. Teachers Advisors LLC now owns 939,950 shares of the energy company’s stock worth $39,215,000 after acquiring an additional 20,850 shares in the last quarter. HGK Asset Management Inc. raised its position in shares of Devon Energy Corporation by 7.0% in the 1st quarter. HGK Asset Management Inc. now owns 319,570 shares of the energy company’s stock worth $13,332,000 after acquiring an additional 20,970 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of Devon Energy Corporation in the 1st quarter worth about $6,649,000. 76.99% of the stock is owned by hedge funds and other institutional investors.
Devon Energy Corporation (NYSE:DVN) opened at 33.9226 on Tuesday. The stock has a market cap of $17.83 billion, a P/E ratio of 7.6748 and a beta of 2.18. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The stock has a 50 day moving average price of $31.91 and a 200-day moving average price of $35.35.
Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 31.6% on a year-over-year basis. On average, equities analysts anticipate that Devon Energy Corporation will post $1.74 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s payout ratio is 5.47%.
DVN has been the subject of several research analyst reports. Royal Bank Of Canada set a $53.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, May 29th. BidaskClub upgraded Devon Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Citigroup Inc. reduced their target price on Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 21st. BMO Capital Markets set a $38.00 target price on Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, Stifel Nicolaus set a $61.00 target price on Devon Energy Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.64.
In other news, Director Robert H. Henry sold 7,045 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $33.35, for a total transaction of $234,950.75. Following the sale, the director now owns 11,338 shares in the company, valued at $378,122.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.98% of the company’s stock.
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About Devon Energy Corporation
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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