Energy Opportunities Capital Management LLC Has $1.41 Million Holdings in Devon Energy Corporation (DVN)

Energy Opportunities Capital Management LLC reduced its stake in shares of Devon Energy Corporation (NYSE:DVN) by 0.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 43,970 shares of the energy company’s stock after selling 30 shares during the period. Energy Opportunities Capital Management LLC’s holdings in Devon Energy Corporation were worth $1,406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in DVN. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Devon Energy Corporation during the 1st quarter worth about $241,000. Stuyvesant Capital Management boosted its stake in shares of Devon Energy Corporation by 3.6% during the 1st quarter. Stuyvesant Capital Management now owns 57,430 shares of the energy company’s stock worth $2,396,000 after acquiring an additional 2,000 shares in the last quarter. Steinberg Global Asset Management boosted its stake in shares of Devon Energy Corporation by 6.5% during the 1st quarter. Steinberg Global Asset Management now owns 12,291 shares of the energy company’s stock worth $513,000 after acquiring an additional 753 shares in the last quarter. Schafer Cullen Capital Management Inc. boosted its stake in shares of Devon Energy Corporation by 1.0% during the 1st quarter. Schafer Cullen Capital Management Inc. now owns 49,197 shares of the energy company’s stock worth $2,052,000 after acquiring an additional 485 shares in the last quarter. Finally, River & Mercantile Asset Management LLP boosted its stake in shares of Devon Energy Corporation by 16.9% during the 1st quarter. River & Mercantile Asset Management LLP now owns 168,500 shares of the energy company’s stock worth $7,032,000 after acquiring an additional 24,300 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

In related 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 transaction of $234,950.75. Following the transaction, 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 is accessible through this link. 0.51% of the stock is owned by corporate insiders.

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Devon Energy Corporation (DVN) traded up 1.699% during mid-day trading on Friday, reaching $36.215. 984,240 shares of the company’s stock were exchanged. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The firm’s 50-day moving average is $34.14 and its 200 day moving average is $34.81. The stock has a market capitalization of $19.03 billion, a PE ratio of 8.193 and a beta of 2.21.

Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. Analysts forecast that Devon Energy Corporation will post $1.72 earnings per share for the current fiscal year.

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

Several research firms have recently issued reports on DVN. Scotiabank set a $49.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Saturday, July 1st. Royal Bank Of Canada reissued a “buy” rating and set a $43.00 target price on shares of Devon Energy Corporation in a research note on Thursday, July 20th. Sanford C. Bernstein lowered shares of Devon Energy Corporation from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $54.00 to $33.00 in a research note on Thursday, July 6th. Zacks Investment Research lowered shares of Devon Energy Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Finally, BMO Capital Markets increased their target price on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Two 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 presently has an average rating of “Buy” and an average target price of $45.31.

Devon Energy Corporation 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).

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

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