Devon Energy Corporation (DVN) Shares Sold by Shelton Capital Management

Shelton Capital Management lessened its stake in shares of Devon Energy Corporation (NYSE:DVN) by 36.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,997 shares of the energy company’s stock after selling 7,885 shares during the quarter. Shelton Capital Management’s holdings in Devon Energy Corporation were worth $447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Macquarie Group Ltd. increased its stake in shares of Devon Energy Corporation by 408.4% during the second quarter. Macquarie Group Ltd. now owns 46,260 shares of the energy company’s stock valued at $1,480,000 after acquiring an additional 37,160 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of Devon Energy Corporation by 67.6% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock valued at $182,000 after acquiring an additional 2,300 shares during the period. AHL Partners LLP acquired a new position in shares of Devon Energy Corporation during the second quarter valued at approximately $210,000. Zurich Insurance Group Ltd FI increased its stake in shares of Devon Energy Corporation by 17.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 112,571 shares of the energy company’s stock valued at $3,599,000 after acquiring an additional 16,970 shares during the period. Finally, Salem Investment Counselors Inc. increased its stake in shares of Devon Energy Corporation by 10.8% during the second quarter. Salem Investment Counselors Inc. now owns 72,430 shares of the energy company’s stock valued at $2,316,000 after acquiring an additional 7,035 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

A number of research analysts recently commented on the stock. Cowen and Company reiterated a “buy” rating and set a $40.00 price objective on shares of Devon Energy Corporation in a research note on Thursday, September 28th. Stifel Nicolaus set a $66.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Thursday, October 5th. BMO Capital Markets set a $45.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Tuesday. Jefferies Group LLC upgraded shares of Devon Energy Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Monday. Finally, Piper Jaffray Companies decreased their price target on shares of Devon Energy Corporation from $46.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Devon Energy Corporation has a consensus rating of “Buy” and a consensus target price of $45.31.

In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $33.35, for a total value of $234,950.75. Following the completion of the sale, the director now owns 11,338 shares of the company’s stock, valued at $378,122.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is currently owned by corporate insiders.

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Devon Energy Corporation (NYSE:DVN) opened at 36.00 on Wednesday. The firm has a 50-day moving average of $33.85 and a 200 day moving average of $34.79. The firm has a market cap of $18.92 billion, a price-to-earnings ratio of 8.14 and a beta of 2.21. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69.

Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ 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 period in the prior year, the business posted $0.06 earnings per share. Devon Energy Corporation’s revenue was up 31.6% compared to the same quarter last year. On average, equities research analysts forecast that Devon Energy Corporation will post $1.72 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s payout ratio is presently 5.47%.

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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Institutional Ownership by Quarter for Devon Energy Corporation (NYSE:DVN)

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