New Mexico Educational Retirement Board decreased its position in Devon Energy Corporation (NYSE:DVN) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,835 shares of the energy company’s stock after selling 4,400 shares during the period. New Mexico Educational Retirement Board’s holdings in Devon Energy Corporation were worth $1,627,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. FTB Advisors Inc. raised its position in Devon Energy Corporation by 84.2% in the first quarter. FTB Advisors Inc. now owns 2,755 shares of the energy company’s stock worth $108,000 after buying an additional 1,259 shares during the last quarter. Fifth Third Bancorp raised its position in Devon Energy Corporation by 10.4% in the first quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock worth $110,000 after buying an additional 248 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Devon Energy Corporation during the first quarter worth $116,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in Devon Energy Corporation by 88.9% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,400 shares of the energy company’s stock worth $142,000 after buying an additional 1,600 shares during the last quarter. Finally, Global X Management Co. LLC raised its position in Devon Energy Corporation by 12.5% in the second quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after buying an additional 503 shares during the last quarter. Hedge funds and other institutional investors own 77.27% of the company’s stock.
Shares of Devon Energy Corporation (DVN) opened at 31.61 on Friday. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The stock has a market capitalization of $16.61 billion, a P/E ratio of 7.15 and a beta of 2.17. The stock has a 50 day moving average of $31.79 and a 200-day moving average of $37.85.
Devon Energy Corporation (NYSE:DVN) last released its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 31.6% on a year-over-year basis. Equities research analysts predict that Devon Energy Corporation will post $1.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.76%. Devon Energy Corporation’s dividend payout ratio is presently 5.47%.
A number of equities analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. Barclays PLC restated an “overweight” rating and set a $47.00 price target (down from $54.00) on shares of Devon Energy Corporation in a research report on Saturday, April 22nd. Seaport Global Securities lowered shares of Devon Energy Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $51.00 to $28.00 in a research report on Wednesday, June 21st. Credit Suisse Group boosted their price target on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. Finally, Scotiabank set a $57.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Devon Energy Corporation has a consensus rating of “Buy” and an average target price of $47.71.
In related news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $33.35, for a total value of $234,950.75. Following the sale, the director now directly owns 11,338 shares of the company’s stock, valued at $378,122.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is currently owned by company insiders.
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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