Tokio Marine Asset Management Co. Ltd. cut its position in shares of Devon Energy Corporation (NYSE:DVN) by 16.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,760 shares of the energy company’s stock after selling 1,289 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Devon Energy Corporation were worth $216,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of DVN. Fifth Third Bancorp increased its stake in shares of 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. FTB Advisors Inc. increased its stake in shares of 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. State of Alaska Department of Revenue acquired a new stake in shares of Devon Energy Corporation during the first quarter worth approximately $116,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of 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, Financial Architects Inc increased its stake in shares of Devon Energy Corporation by 525.4% in the first quarter. Financial Architects Inc now owns 3,884 shares of the energy company’s stock worth $162,000 after buying an additional 3,263 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.
Devon Energy Corporation (DVN) traded up 0.73% during trading on Friday, reaching $30.40. The company had a trading volume of 4,204,081 shares. The stock has a market capitalization of $15.98 billion, a P/E ratio of 6.88 and a beta of 2.17. The stock has a 50 day moving average of $31.81 and a 200-day moving average of $37.40. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69.
Devon Energy Corporation (NYSE:DVN) last released its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 31.6% on a year-over-year basis. On average, analysts forecast that Devon Energy Corporation will post $1.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.24 annualized dividend and a yield of 0.79%. Devon Energy Corporation’s dividend payout ratio is presently 5.47%.
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A number of analysts recently commented on DVN shares. BidaskClub downgraded Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Citigroup Inc. decreased their target price on Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 21st. BMO Capital Markets reissued a “buy” rating and issued a $45.00 target price on shares of Devon Energy Corporation in a research report on Wednesday, May 3rd. Scotiabank set a $47.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada set a $53.00 price target on Devon Energy Corporation and gave the company a “buy” rating in a research report on Monday, May 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $47.62.
In related news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the sale, the director now owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is currently owned by corporate 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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