Van ECK Associates Corp lifted its stake in shares of Devon Energy Corporation (NYSE:DVN – Free Report) by 23.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 188,254 shares of the energy company’s stock after acquiring an additional 35,191 shares during the period. Van ECK Associates Corp’s holdings in Devon Energy were worth $7,779,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kimmeridge Energy Management Company LLC raised its holdings in shares of Devon Energy by 56.5% during the 4th quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after buying an additional 3,195,862 shares in the last quarter. LSV Asset Management boosted its stake in Devon Energy by 79.6% in the fourth quarter. LSV Asset Management now owns 799,587 shares of the energy company’s stock worth $29,289,000 after buying an additional 354,500 shares in the last quarter. Morningstar Investment Management LLC bought a new position in Devon Energy during the fourth quarter valued at approximately $2,089,000. Illinois Municipal Retirement Fund grew its position in Devon Energy by 15.5% during the first quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock valued at $9,801,000 after acquiring an additional 26,209 shares during the last quarter. Finally, NewEdge Wealth LLC raised its stake in shares of Devon Energy by 20.0% during the first quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock worth $24,138,000 after acquiring an additional 80,000 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the sale, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.58% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on Devon Energy
Devon Energy Trading Up 1.2%
Shares of DVN opened at $49.07 on Wednesday. The stock has a market capitalization of $53.98 billion, a P/E ratio of 11.66, a PEG ratio of 1.33 and a beta of 0.37. Devon Energy Corporation has a twelve month low of $31.47 and a twelve month high of $52.71. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $44.42 and a two-hundred day simple moving average of $45.70.
Devon Energy (NYSE:DVN – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The firm had revenue of $7.42 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company’s revenue for the quarter was up 73.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 earnings per share. On average, research analysts anticipate that Devon Energy Corporation will post 5.2 EPS for the current year.
Devon Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. Devon Energy’s dividend payout ratio is presently 30.40%.
Devon Energy Company Profile
Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.
Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.
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