Papp L Roy & Associates bought a new stake in Devon Energy Co. (NYSE:DVN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,715 shares of the energy company’s stock, valued at approximately $210,000.
A number of other large investors have also bought and sold shares of DVN. Renaissance Technologies LLC grew its stake in Devon Energy by 118.2% in the second quarter. Renaissance Technologies LLC now owns 4,376,500 shares of the energy company’s stock valued at $139,917,000 after acquiring an additional 2,370,500 shares during the period. Prudential Financial Inc. grew its stake in Devon Energy by 66.7% in the second quarter. Prudential Financial Inc. now owns 4,365,017 shares of the energy company’s stock valued at $139,549,000 after acquiring an additional 1,745,977 shares during the period. Vanguard Group Inc. grew its stake in Devon Energy by 3.0% in the second quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock valued at $1,432,998,000 after acquiring an additional 1,295,417 shares during the period. Victory Capital Management Inc. grew its stake in Devon Energy by 21.6% in the third quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock valued at $204,501,000 after acquiring an additional 988,090 shares during the period. Finally, Scout Investments Inc. acquired a new position in Devon Energy in the third quarter valued at about $32,652,000. 77.27% of the stock is owned by hedge funds and other institutional investors.
Devon Energy Co. (NYSE DVN) traded down $0.40 during trading hours on Monday, reaching $40.41. The company’s stock had a trading volume of 4,439,500 shares, compared to its average volume of 4,803,036. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $21,000.00, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.28 and a beta of 2.22. Devon Energy Co. has a 12-month low of $28.79 and a 12-month high of $50.69.
Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 earnings per share. equities research analysts forecast that Devon Energy Co. will post 1.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a yield of 0.59%. Devon Energy’s dividend payout ratio is 8.16%.
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DVN has been the subject of a number of research analyst reports. Cowen and Company set a $40.00 target price on Devon Energy and gave the company a “buy” rating in a research note on Tuesday, October 31st. Barclays PLC reissued an “overweight” rating and issued a $35.00 target price (up from $31.00) on shares of Devon Energy in a research note on Thursday, August 3rd. BidaskClub raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Piper Jaffray Companies reduced their price objective on Devon Energy from $46.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, September 18th. Finally, Royal Bank Of Canada set a $43.00 price objective on Devon Energy and gave the stock a “buy” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $45.89.
Devon Energy 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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