Unigestion Holding SA increased its stake in Devon Energy Corp (NYSE:DVN) by 48.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,326 shares of the energy company’s stock after purchasing an additional 12,201 shares during the quarter. Unigestion Holding SA’s holdings in Devon Energy were worth $898,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of DVN. Usca Ria LLC acquired a new stake in Devon Energy in the 3rd quarter valued at about $29,000. North Star Investment Management Corp. acquired a new stake in Devon Energy in the 3rd quarter valued at about $43,000. Westside Investment Management Inc. acquired a new stake in Devon Energy in the 2nd quarter valued at about $45,000. Advisory Services Network LLC lifted its holdings in Devon Energy by 43.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock valued at $48,000 after acquiring an additional 516 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in Devon Energy by 88.1% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,738 shares of the energy company’s stock valued at $49,000 after acquiring an additional 814 shares during the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on DVN. Guggenheim set a $35.00 price target on shares of Devon Energy and gave the company a “buy” rating in a report on Wednesday, August 21st. ValuEngine raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Seaport Global Securities downgraded shares of Devon Energy from a “buy” rating to a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley cut their price target on shares of Devon Energy from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, October 4th. Finally, Mitsubishi UFJ Financial Group upped their price target on shares of Devon Energy to $36.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $36.19.
In other news, CAO Jeremy D. Humphers sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $21.66, for a total value of $32,490.00. Following the transaction, the chief accounting officer now owns 42,475 shares in the company, valued at approximately $920,008.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by insiders.
NYSE DVN traded up $0.23 on Friday, hitting $22.91. 5,366,535 shares of the company were exchanged, compared to its average volume of 7,166,818. The company’s 50 day moving average price is $22.20 and its 200-day moving average price is $25.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $9.29 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 1.50 and a beta of 2.35. Devon Energy Corp has a twelve month low of $19.72 and a twelve month high of $35.39.
Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.57 billion. Devon Energy had a return on equity of 6.08% and a net margin of 16.00%. During the same quarter in the previous year, the company earned $0.63 EPS. As a group, equities analysts expect that Devon Energy Corp will post 1.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.36 annualized dividend and a yield of 1.57%. Devon Energy’s payout ratio is presently 27.91%.
Devon Energy Company 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 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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