AMP Capital Investors Ltd trimmed its holdings in shares of Devon Energy Corp (NYSE:DVN) by 35.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 186,309 shares of the energy company’s stock after selling 103,348 shares during the quarter. AMP Capital Investors Ltd’s holdings in Devon Energy were worth $7,337,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in DVN. Dupont Capital Management Corp increased its position in shares of Devon Energy by 37.6% during the second quarter. Dupont Capital Management Corp now owns 6,413 shares of the energy company’s stock worth $282,000 after acquiring an additional 1,753 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of Devon Energy during the second quarter worth about $605,000. Commonwealth Equity Services LLC increased its position in shares of Devon Energy by 103.5% during the second quarter. Commonwealth Equity Services LLC now owns 92,764 shares of the energy company’s stock worth $4,078,000 after acquiring an additional 47,183 shares during the last quarter. First Trust Advisors LP increased its position in shares of Devon Energy by 5.0% during the second quarter. First Trust Advisors LP now owns 918,944 shares of the energy company’s stock worth $40,397,000 after acquiring an additional 43,671 shares during the last quarter. Finally, Fiera Capital Corp increased its position in shares of Devon Energy by 20.4% during the second quarter. Fiera Capital Corp now owns 13,013 shares of the energy company’s stock worth $572,000 after acquiring an additional 2,205 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of DVN stock opened at $27.20 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.48. Devon Energy Corp has a 52 week low of $25.87 and a 52 week high of $46.54. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 43.17, a P/E/G ratio of 1.43 and a beta of 2.26.
Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 6th. The energy company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.21. Devon Energy had a return on equity of 6.40% and a net margin of 16.62%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. Devon Energy’s quarterly revenue was up 33.4% compared to the same quarter last year. On average, analysts predict that Devon Energy Corp will post 1.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.18%. Devon Energy’s payout ratio is currently 50.79%.
A number of research firms recently commented on DVN. Piper Jaffray Companies upgraded Devon Energy from a “neutral” rating to an “overweight” rating in a research note on Thursday, September 27th. Barclays decreased their price target on Devon Energy from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, November 15th. TheStreet downgraded Devon Energy from a “c-” rating to a “d+” rating in a research note on Friday, November 2nd. Capital One Financial upgraded Devon Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Royal Bank of Canada decreased their price target on Devon Energy from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $47.22.
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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 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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