Commerzbank Aktiengesellschaft FI boosted its stake in Devon Energy Corporation (NYSE:DVN – Free Report) by 69.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,548 shares of the energy company’s stock after buying an additional 22,334 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Devon Energy were worth $2,254,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. State Street Corp raised its holdings in shares of Devon Energy by 0.6% in the fourth quarter. State Street Corp now owns 35,542,293 shares of the energy company’s stock valued at $1,301,914,000 after purchasing an additional 212,074 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Devon Energy by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company’s stock worth $700,238,000 after purchasing an additional 186,743 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Devon Energy by 17.5% during the fourth quarter. Victory Capital Management Inc. now owns 13,916,979 shares of the energy company’s stock worth $509,779,000 after purchasing an additional 2,071,021 shares during the last quarter. Bank of New York Mellon Corp grew its position in Devon Energy by 137.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,628,124 shares of the energy company’s stock worth $397,834,000 after purchasing an additional 5,573,172 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Devon Energy by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,606,131 shares of the energy company’s stock worth $483,475,000 after purchasing an additional 235,561 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.
Devon Energy Price Performance
DVN opened at $47.62 on Tuesday. The firm has a 50-day moving average price of $43.45 and a 200-day moving average price of $45.24. 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 company has a market capitalization of $52.38 billion, a price-to-earnings ratio of 11.31 and a beta of 0.38.
Devon Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued 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 2.7%. Devon Energy’s payout ratio is presently 30.40%.
Insider Activity
In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the sale, the senior vice president owned 138,529 shares in the company, valued at $6,474,845.46. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.58% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several equities research analysts have commented on DVN shares. The Goldman Sachs Group decreased their price objective on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Morgan Stanley reduced their price objective on Devon Energy from $66.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Tudor Pickering raised Devon Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Mizuho lifted their target price on Devon Energy from $62.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, UBS Group cut their price target on shares of Devon Energy from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $59.15.
Check Out Our Latest Analysis on DVN
Devon Energy 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.
Read More
- Five stocks we like better than Devon Energy
- Commodities Are Booming, But These 3 ETFs Tell Different Stories
- 3 Active ETFs Making Big Moves in August
- This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
- Birkenstock Beats the Skeptics—But Not on EPS
Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Corporation (NYSE:DVN – Free Report).
Receive News & Ratings for Devon Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy and related companies with MarketBeat.com's FREE daily email newsletter.
