Devon Energy Corporation (DVN) Holdings Lifted by Comerica Bank
Comerica Bank boosted its stake in shares of Devon Energy Corporation (NYSE:DVN) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,231 shares of the energy company’s stock after acquiring an additional 2,301 shares during the quarter. Comerica Bank’s holdings in Devon Energy Corporation were worth $6,381,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in DVN. Bank of Montreal Can increased its stake in shares of Devon Energy Corporation by 15.4% in the second quarter. Bank of Montreal Can now owns 172,744 shares of the energy company’s stock valued at $5,524,000 after buying an additional 23,061 shares in the last quarter. LS Investment Advisors LLC increased its position in Devon Energy Corporation by 10.9% in the second quarter. LS Investment Advisors LLC now owns 17,646 shares of the energy company’s stock worth $564,000 after purchasing an additional 1,740 shares during the period. Louisiana State Employees Retirement System increased its position in Devon Energy Corporation by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the energy company’s stock worth $1,042,000 after purchasing an additional 400 shares during the period. APG Asset Management N.V. increased its position in Devon Energy Corporation by 184.4% in the second quarter. APG Asset Management N.V. now owns 188,779 shares of the energy company’s stock worth $6,035,000 after purchasing an additional 122,400 shares during the period. Finally, Quantitative Systematic Strategies LLC increased its position in Devon Energy Corporation by 110.5% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,877 shares of the energy company’s stock worth $505,000 after purchasing an additional 8,334 shares during the period. Hedge funds and other institutional investors own 77.13% of the company’s stock.
A number of brokerages recently commented on DVN. Barclays PLC lifted their price objective on Devon Energy Corporation from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday. Scotiabank set a $49.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, July 31st. Cowen and Company reiterated a “buy” rating and issued a $40.00 price objective on shares of Devon Energy Corporation in a research report on Thursday, September 28th. BMO Capital Markets set a $45.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a report on Tuesday, October 10th. Finally, BidaskClub cut Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $46.06.
Devon Energy Corporation (NYSE DVN) opened at $37.53 on Tuesday. The firm has a market capitalization of $19,720.00, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 1.20 and a beta of 2.22. Devon Energy Corporation has a 1 year low of $28.79 and a 1 year high of $50.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63.
Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Devon Energy Corporation had a return on equity of 6.88% and a net margin of 11.62%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 EPS. sell-side analysts forecast that Devon Energy Corporation will post 1.76 earnings per share 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 given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is 8.16%.
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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