Weiss Multi Strategy Advisers LLC raised its stake in Devon Energy Corporation (NYSE:DVN) by 499.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 121,112 shares of the energy company’s stock after buying an additional 100,922 shares during the period. Weiss Multi Strategy Advisers LLC’s holdings in Devon Energy Corporation were worth $5,053,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Numeric Investors LLC purchased a new stake in Devon Energy Corporation during the fourth quarter valued at $763,000. Thrivent Financial for Lutherans increased its stake in Devon Energy Corporation by 8.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,239,980 shares of the energy company’s stock valued at $56,630,000 after buying an additional 92,910 shares during the last quarter. Pittenger & Anderson Inc. increased its stake in Devon Energy Corporation by 671.2% in the fourth quarter. Pittenger & Anderson Inc. now owns 5,090 shares of the energy company’s stock valued at $232,000 after buying an additional 4,430 shares during the last quarter. IFM Investors Pty Ltd purchased a new stake in Devon Energy Corporation during the fourth quarter valued at $274,000. Finally, Archford Capital Strategies LLC increased its stake in Devon Energy Corporation by 68.8% in the fourth quarter. Archford Capital Strategies LLC now owns 4,937 shares of the energy company’s stock valued at $225,000 after buying an additional 2,013 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.
Shares of Devon Energy Corporation (NYSE DVN) traded down 0.78% on Friday, reaching $33.21. The company had a trading volume of 4,323,609 shares. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The firm has a 50-day moving average price of $31.54 and a 200 day moving average price of $38.79. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of 56.38 and a beta of 2.16.
Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $2.98 billion. Devon Energy Corporation had a net margin of 2.34% and a return on equity of 4.25%. Equities research analysts predict that Devon Energy Corporation will post $1.58 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.72%. Devon Energy Corporation’s dividend payout ratio (DPR) is presently 43.64%.
Several research firms have weighed in on DVN. BidaskClub downgraded Devon Energy Corporation from a “hold” rating to a “sell” rating in a research note on Thursday. Citigroup Inc. decreased their price objective on Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating for the company in a report on Friday, July 21st. Royal Bank Of Canada reissued a “buy” rating and issued a $43.00 price objective on shares of Devon Energy Corporation in a report on Thursday, July 20th. Cowen and Company set a $37.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Piper Jaffray Companies initiated coverage on Devon Energy Corporation in a report on Monday, July 17th. They issued a “neutral” rating and a $48.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Devon Energy Corporation presently has a consensus rating of “Buy” and an average target price of $47.82.
Devon Energy Corporation Company 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).
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