14,625 Shares in Devon Energy Corporation (DVN) Acquired by Alps Advisors Inc.
Alps Advisors Inc. purchased a new position in shares of Devon Energy Corporation (NYSE:DVN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 14,625 shares of the energy company’s stock, valued at approximately $537,000.
A number of other large investors have also modified their holdings of the business. Renaissance Technologies LLC grew its position in shares of Devon Energy Corporation by 118.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,376,500 shares of the energy company’s stock worth $139,917,000 after purchasing an additional 2,370,500 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Devon Energy Corporation by 66.7% during the 2nd quarter. Prudential Financial Inc. now owns 4,365,017 shares of the energy company’s stock worth $139,549,000 after purchasing an additional 1,745,977 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Devon Energy Corporation by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock worth $1,432,998,000 after purchasing an additional 1,295,417 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Devon Energy Corporation by 21.6% during the 3rd quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock worth $204,501,000 after purchasing an additional 988,090 shares in the last quarter. Finally, Scout Investments Inc. acquired a new position in shares of Devon Energy Corporation during the 3rd quarter worth approximately $32,652,000. 77.27% of the stock is currently owned by hedge funds and other institutional investors.
DVN has been the topic of a number of analyst reports. Cowen and Company set a $40.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Barclays PLC reaffirmed an “overweight” rating and set a $35.00 price target (up previously from $31.00) on shares of Devon Energy Corporation in a report on Thursday, August 3rd. BidaskClub raised shares of Devon Energy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Piper Jaffray Companies cut their price target on shares of Devon Energy Corporation from $46.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, September 18th. Finally, Royal Bank Of Canada set a $43.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a report on Friday, August 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $45.89.
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Shares of Devon Energy Corporation (NYSE DVN) opened at $37.91 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. The company has a market cap of $20,070.75, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 1.20 and a beta of 2.22. Devon Energy Corporation has a twelve month low of $28.79 and a twelve month high of $50.69.
Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Devon Energy Corporation had a net margin of 11.62% and a return on equity of 6.88%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $1.89 earnings per share. equities analysts predict that Devon Energy Corporation will post 1.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s payout ratio is 8.19%.
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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