DNB Asset Management AS decreased its position in shares of Devon Energy Corp (NYSE:DVN) by 10.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,016 shares of the energy company’s stock after selling 7,130 shares during the period. DNB Asset Management AS’s holdings in Devon Energy were worth $1,926,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its stake in Devon Energy by 4.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 82,184 shares of the energy company’s stock worth $1,852,000 after buying an additional 3,370 shares during the period. Fiera Capital Corp increased its stake in Devon Energy by 75.6% during the 4th quarter. Fiera Capital Corp now owns 29,087 shares of the energy company’s stock worth $655,000 after buying an additional 12,520 shares during the period. LPL Financial LLC increased its stake in Devon Energy by 13.0% during the 3rd quarter. LPL Financial LLC now owns 56,986 shares of the energy company’s stock worth $2,276,000 after buying an additional 6,546 shares during the period. BB&T Corp increased its stake in Devon Energy by 1,003.3% during the 4th quarter. BB&T Corp now owns 700,770 shares of the energy company’s stock worth $15,795,000 after buying an additional 637,254 shares during the period. Finally, Morgan Stanley increased its stake in Devon Energy by 105.9% during the 3rd quarter. Morgan Stanley now owns 2,521,826 shares of the energy company’s stock worth $100,722,000 after buying an additional 1,296,801 shares during the period. 87.04% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on DVN. Zacks Investment Research downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Barclays reissued a “hold” rating and issued a $36.00 target price on shares of Devon Energy in a research report on Thursday, April 11th. ValuEngine raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. TheStreet raised shares of Devon Energy from a “d+” rating to a “c+” rating in a research report on Tuesday, February 19th. Finally, Capital One Financial downgraded shares of Devon Energy from an “overweight” rating to an “underweight” rating in a research report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $45.30.
NYSE DVN opened at $32.83 on Wednesday. The stock has a market capitalization of $14.28 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 1.47 and a beta of 2.26. Devon Energy Corp has a one year low of $20.37 and a one year high of $46.54. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.63.
Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 19th. The energy company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.21). The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $1.97 billion. Devon Energy had a return on equity of 5.73% and a net margin of 24.82%. During the same period in the prior year, the company posted $0.38 earnings per share. Equities analysts forecast that Devon Energy Corp will post 1.66 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.09 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Thursday, June 13th. Devon Energy’s dividend payout ratio is currently 24.81%.
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Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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