Devon Energy Corporation (DVN) Shares Bought by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. increased its stake in shares of Devon Energy Corporation (NYSE:DVN) by 7.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 67,124 shares of the energy company’s stock after purchasing an additional 4,940 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Devon Energy were worth $2,464,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of DVN. Renaissance Technologies LLC boosted its position in shares of Devon Energy 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 during the period. Prudential Financial Inc. boosted its position in Devon Energy by 66.7% in the 2nd quarter. Prudential Financial Inc. now owns 4,365,017 shares of the energy company’s stock valued at $139,549,000 after buying an additional 1,745,977 shares during the period. Vanguard Group Inc. boosted its position in Devon Energy by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock valued at $1,432,998,000 after buying an additional 1,295,417 shares during the period. Victory Capital Management Inc. boosted its position in Devon Energy by 21.6% in the 3rd quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock valued at $204,501,000 after buying an additional 988,090 shares during the period. Finally, Scout Investments Inc. purchased a new position in Devon Energy in the 3rd quarter valued at approximately $32,652,000. 77.64% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on the stock. Credit Suisse Group assumed coverage on shares of Devon Energy in a research report on Monday. They issued a “buy” rating and a $43.00 price target for the company. Scotiabank set a $50.00 price target on shares of Devon Energy and gave the company a “buy” rating in a research report on Saturday, November 25th. Piper Jaffray Companies reissued a “hold” rating and issued a $38.00 price target on shares of Devon Energy in a research report on Friday, November 24th. Barclays raised their price target on shares of Devon Energy from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, November 20th. Finally, Cowen set a $40.00 price target on shares of Devon Energy and gave the company a “buy” rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $45.39.
Shares of Devon Energy Corporation (NYSE:DVN) opened at $38.30 on Tuesday. Devon Energy Corporation has a fifty-two week low of $28.79 and a fifty-two week high of $50.69. The firm has a market cap of $19,976.25, a price-to-earnings ratio of 26.06, a PEG ratio of 1.20 and a beta of 2.21. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63.
Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the business earned $1.89 EPS. The company’s revenue was up 9.5% on a year-over-year basis. sell-side analysts anticipate that Devon Energy Corporation will post 1.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.63%. Devon Energy’s payout ratio is 8.19%.
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About Devon Energy
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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