Dimensional Fund Advisors LP cut its stake in shares of Devon Energy Corporation (NYSE:DVN) by 29.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 935,600 shares of the energy company’s stock after selling 389,545 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.18% of Devon Energy Corporation worth $29,910,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Trust Co. acquired a new position in Devon Energy Corporation during the 2nd quarter worth about $144,000. Global X Management Co. LLC lifted its holdings in Devon Energy Corporation by 12.5% during the 2nd quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after buying an additional 503 shares during the period. Exane Derivatives lifted its holdings in Devon Energy Corporation by 36.0% during the 2nd quarter. Exane Derivatives now owns 5,650 shares of the energy company’s stock worth $181,000 after buying an additional 1,497 shares during the period. Dupont Capital Management Corp acquired a new position in Devon Energy Corporation during the 2nd quarter worth about $184,000. Finally, FNY Partners Fund LP lifted its holdings in Devon Energy Corporation by 19,500.0% during the 1st quarter. FNY Partners Fund LP now owns 4,900 shares of the energy company’s stock worth $204,000 after buying an additional 4,875 shares during the period. 77.30% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on DVN. Cowen and Company set a $40.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a report on Tuesday. Barclays PLC reissued an “overweight” rating and issued a $35.00 price objective (up from $31.00) on shares of Devon Energy Corporation in a research report on Wednesday, August 9th. Scotiabank set a $49.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, July 31st. BMO Capital Markets set a $45.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Finally, BidaskClub lowered Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Devon Energy Corporation currently has an average rating of “Buy” and a consensus target price of $45.47.
Devon Energy Corporation (NYSE:DVN) last announced its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. Devon Energy Corporation had a net margin of 11.62% and a return on equity of 7.05%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis.
The firm 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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio is 8.19%.
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In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the firm’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 completion of 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 available through the SEC website. 0.51% of the stock is currently owned by company insiders.
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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