Gulf International Bank UK Ltd Purchases 11,400 Shares of Devon Energy Corp (DVN)

Gulf International Bank UK Ltd lifted its position in shares of Devon Energy Corp (NYSE:DVN) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,420 shares of the energy company’s stock after purchasing an additional 11,400 shares during the period. Gulf International Bank UK Ltd’s holdings in Devon Energy were worth $7,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DVN. Perella Weinberg Partners Capital Management LP increased its stake in shares of Devon Energy by 2,029.9% during the second quarter. Perella Weinberg Partners Capital Management LP now owns 1,405,269 shares of the energy company’s stock worth $61,776,000 after purchasing an additional 1,339,291 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of Devon Energy by 16.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 9,201,696 shares of the energy company’s stock worth $404,507,000 after purchasing an additional 1,316,231 shares during the period. FMR LLC increased its stake in shares of Devon Energy by 11.1% during the second quarter. FMR LLC now owns 11,782,553 shares of the energy company’s stock worth $517,962,000 after purchasing an additional 1,173,389 shares during the period. BlueMountain Capital Management LLC increased its stake in shares of Devon Energy by 15,497.1% during the second quarter. BlueMountain Capital Management LLC now owns 998,529 shares of the energy company’s stock worth $43,895,000 after purchasing an additional 992,127 shares during the period. Finally, Soros Fund Management LLC bought a new position in shares of Devon Energy during the second quarter worth approximately $30,772,000. Institutional investors own 83.77% of the company’s stock.

DVN has been the topic of a number of recent research reports. Stephens set a $52.00 target price on Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Mizuho initiated coverage on Devon Energy in a research note on Monday, July 23rd. They set a “buy” rating and a $59.00 target price on the stock. Stifel Nicolaus set a $60.00 target price on Devon Energy and gave the stock a “buy” rating in a research note on Thursday, July 19th. Jefferies Financial Group set a $53.00 target price on Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Finally, Bank of America increased their target price on Devon Energy from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Devon Energy presently has a consensus rating of “Buy” and an average price target of $49.96.

In related news, Director Robert H. Henry sold 5,600 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $42.14, for a total transaction of $235,984.00. Following the sale, the director now owns 9,704 shares of the company’s stock, valued at $408,926.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.55% of the company’s stock.

Shares of NYSE:DVN opened at $33.01 on Friday. The company has a market cap of $17.23 billion, a P/E ratio of 52.40, a P/E/G ratio of 1.47 and a beta of 2.27. Devon Energy Corp has a 1 year low of $29.83 and a 1 year high of $46.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.65 and a current ratio of 1.48.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 6th. The energy company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.21. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.61 billion. Devon Energy had a return on equity of 6.40% and a net margin of 16.62%. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, analysts anticipate that Devon Energy Corp will post 1.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Thursday, December 13th. Devon Energy’s dividend payout ratio is currently 50.79%.

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Devon Energy 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 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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