Vanguard Group Inc. Grows Holdings in Devon Energy Corporation (DVN)
Vanguard Group Inc. grew its position in Devon Energy Corporation (NYSE:DVN) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,823,163 shares of the energy company’s stock after acquiring an additional 1,295,417 shares during the quarter. Vanguard Group Inc. owned 8.52% of Devon Energy Corporation worth $1,432,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in DVN. Fifth Third Bancorp increased its stake in Devon Energy Corporation by 10.4% in the 1st quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock worth $110,000 after acquiring an additional 248 shares during the last quarter. Fiduciary Trust Co. bought a new stake in Devon Energy Corporation in the 2nd quarter worth approximately $144,000. Global X Management Co. LLC increased its stake in Devon Energy Corporation by 12.5% in the 2nd quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after acquiring an additional 503 shares during the last quarter. Exane Derivatives increased its stake in Devon Energy Corporation by 36.0% in the 2nd quarter. Exane Derivatives now owns 5,650 shares of the energy company’s stock worth $181,000 after acquiring an additional 1,497 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new stake in Devon Energy Corporation in the 2nd quarter worth approximately $184,000. 77.00% of the stock is currently owned by institutional investors and hedge funds.
DVN has been the topic of a number of research reports. Barclays PLC reaffirmed an “overweight” rating and issued a $35.00 price objective (up previously from $31.00) on shares of Devon Energy Corporation in a research note on Thursday, August 3rd. Royal Bank Of Canada set a $53.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, May 29th. BidaskClub raised Devon Energy Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies cut their target price on Devon Energy Corporation from $46.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, September 18th. Finally, Cowen and Company set a $37.00 target price on Devon Energy Corporation and gave the company a “buy” rating in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Devon Energy Corporation currently has an average rating of “Hold” and a consensus price target of $45.61.
In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the sale, the director now owns 11,338 shares of the company’s stock, valued at $378,122.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.51% of the stock is owned by company insiders.
Shares of Devon Energy Corporation (NYSE:DVN) opened at 35.78 on Monday. The stock has a market capitalization of $18.81 billion, a PE ratio of 8.10 and a beta of 2.18. The firm has a 50 day moving average price of $31.92 and a 200 day moving average price of $35.28. Devon Energy Corporation has a one year low of $28.79 and a one year high of $50.69.
Devon Energy Corporation (NYSE:DVN) last posted its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 5.36% and a net margin of 16.07%. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. Analysts predict that Devon Energy Corporation will post $1.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a yield of 0.67%. Devon Energy Corporation’s dividend payout ratio (DPR) is 5.47%.
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Devon Energy Corporation 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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