Gluskin Sheff & Assoc Inc. Acquires 5,030 Shares of Devon Energy Corp (DVN)
Gluskin Sheff & Assoc Inc. increased its holdings in shares of Devon Energy Corp (NYSE:DVN) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,525 shares of the energy company’s stock after acquiring an additional 5,030 shares during the quarter. Gluskin Sheff & Assoc Inc.’s holdings in Devon Energy were worth $2,857,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in DVN. Jafra Capital Management LP acquired a new stake in shares of Devon Energy in the 2nd quarter valued at approximately $3,297,000. FMR LLC boosted its stake in shares of Devon Energy by 11.1% in the 2nd quarter. FMR LLC now owns 11,782,553 shares of the energy company’s stock valued at $517,962,000 after purchasing an additional 1,173,389 shares in the last quarter. Swiss National Bank boosted its stake in shares of Devon Energy by 8.9% in the 2nd quarter. Swiss National Bank now owns 1,738,426 shares of the energy company’s stock valued at $76,421,000 after purchasing an additional 142,600 shares in the last quarter. Global X Management Co LLC boosted its stake in shares of Devon Energy by 18.9% in the 2nd quarter. Global X Management Co LLC now owns 14,142 shares of the energy company’s stock valued at $622,000 after purchasing an additional 2,244 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Devon Energy by 3.3% in the 2nd quarter. Gabelli Funds LLC now owns 489,800 shares of the energy company’s stock valued at $21,532,000 after purchasing an additional 15,500 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.
DVN has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Stephens set a $52.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a report on Wednesday, July 25th. Susquehanna Bancshares lowered their price objective on Devon Energy from $54.00 to $53.00 and set a “positive” rating on the stock in a research note on Wednesday, August 1st. UBS Group upgraded Devon Energy from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Monday, August 6th. Finally, BMO Capital Markets restated a “buy” rating and issued a $50.00 price objective on shares of Devon Energy in a research report on Tuesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $49.43.
Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 6th. The energy company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.21. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.61 billion. Devon Energy had a return on equity of 6.40% and a net margin of 16.62%. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. Research analysts expect that Devon Energy Corp will post 1.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, December 13th. Devon Energy’s payout ratio is 50.79%.
Devon Energy Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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