Mn Services Vermogensbeheer B.V. raised its position in Devon Energy Corporation (NYSE:DVN) by 543.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,910 shares of the energy company’s stock after buying an additional 68,342 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Devon Energy Corporation were worth $2,587,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in DVN. River & Mercantile Asset Management LLP purchased a new position in Devon Energy Corporation during the fourth quarter valued at approximately $6,586,000. Lincluden Management Ltd. increased its stake in Devon Energy Corporation by 14.3% in the fourth quarter. Lincluden Management Ltd. now owns 248,407 shares of the energy company’s stock valued at $11,345,000 after buying an additional 31,017 shares in the last quarter. Quadrature Capital Ltd increased its stake in Devon Energy Corporation by 77.9% in the fourth quarter. Quadrature Capital Ltd now owns 138,130 shares of the energy company’s stock valued at $6,313,000 after buying an additional 60,498 shares in the last quarter. Wealthfront Inc. increased its stake in Devon Energy Corporation by 5.1% in the fourth quarter. Wealthfront Inc. now owns 11,488 shares of the energy company’s stock valued at $525,000 after buying an additional 558 shares in the last quarter. Finally, RMB Capital Management LLC purchased a new position in Devon Energy Corporation during the fourth quarter valued at $749,000. Hedge funds and other institutional investors own 77.27% of the company’s stock.
Devon Energy Corporation (NYSE:DVN) traded down 0.47% during mid-day trading on Friday, hitting $31.61. 3,588,192 shares of the stock were exchanged. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69. The firm has a market cap of $16.61 billion, a price-to-earnings ratio of 7.15 and a beta of 2.17. The company has a 50 day moving average price of $31.79 and a 200 day moving average price of $37.85.
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, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The company’s revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. On average, analysts anticipate that Devon Energy Corporation will post $1.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.76%. Devon Energy Corporation’s payout ratio is currently 5.47%.
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DVN has been the topic of several research analyst reports. Barclays PLC reaffirmed an “overweight” rating and issued a $47.00 price target (down previously from $54.00) on shares of Devon Energy Corporation in a report on Saturday, April 22nd. Royal Bank Of Canada set a $53.00 target price on Devon Energy Corporation and gave the company a “buy” rating in a research note on Tuesday, April 25th. BMO Capital Markets reissued a “buy” rating and issued a $45.00 target price on shares of Devon Energy Corporation in a research note on Wednesday, May 3rd. Credit Suisse Group upped their price target on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, May 4th. Finally, TheStreet upgraded shares of Devon Energy Corporation from a “d+” rating to a “c” rating in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Devon Energy Corporation has an average rating of “Buy” and a consensus price target of $47.62.
In related news, Director Robert H. Henry sold 7,045 shares of the 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 sale, the director now owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.98% of the company’s stock.
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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