Devon Energy Corporation (NYSE:DVN) Director Robert H. Henry sold 7,045 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following 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 Securities & Exchange Commission, which is accessible through the SEC website.
Devon Energy Corporation (NYSE DVN) traded up 0.73% during mid-day trading on Friday, reaching $30.40. 4,204,173 shares of the company’s stock traded hands. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69. The company has a market capitalization of $15.98 billion, a price-to-earnings ratio of 6.88 and a beta of 2.17. The company has a 50-day moving average of $31.77 and a 200-day moving average of $37.29.
Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analyst estimates of $3.24 billion. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 31.6% compared to the same quarter last year. Equities research analysts expect that Devon Energy Corporation will post $1.74 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.79%. Devon Energy Corporation’s dividend payout ratio is currently 5.47%.
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DVN has been the subject of a number of recent analyst reports. Barclays PLC restated an “overweight” rating and issued a $47.00 price objective (down previously from $54.00) on shares of Devon Energy Corporation in a research report on Saturday, April 22nd. Royal Bank Of Canada set a $53.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research report on Tuesday, April 25th. BMO Capital Markets restated a “buy” rating and issued a $45.00 price objective on shares of Devon Energy Corporation in a research report on Wednesday, May 3rd. Credit Suisse Group raised their price objective on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, May 4th. Finally, TheStreet upgraded shares of Devon Energy Corporation from a “d+” rating to a “c” rating in a research report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $47.62.
Several large investors have recently added to or reduced their stakes in DVN. 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 valued at $110,000 after buying an additional 248 shares in the last quarter. 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 valued at $108,000 after buying an additional 1,259 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Devon Energy Corporation during the first quarter valued at $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 valued at $142,000 after buying an additional 1,600 shares in the last quarter. Finally, Sun Life Financial INC raised its position in Devon Energy Corporation by 32,058.3% in the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock valued at $123,000 after buying an additional 3,847 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.
About Devon Energy Corporation
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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