Gamco Investors INC. ET AL reduced its position in Devon Energy Corp (NYSE:DVN) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,200 shares of the energy company’s stock after selling 8,100 shares during the period. Gamco Investors INC. ET AL’s holdings in Devon Energy were worth $2,459,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of DVN. Price T Rowe Associates Inc. MD lifted its position in shares of Devon Energy by 252.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,032,588 shares of the energy company’s stock worth $229,089,000 after buying an additional 5,755,255 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Devon Energy by 8,782.8% in the second quarter. Nuveen Asset Management LLC now owns 2,126,454 shares of the energy company’s stock worth $60,646,000 after buying an additional 2,102,515 shares in the last quarter. Balyasny Asset Management LLC lifted its position in shares of Devon Energy by 364.6% in the second quarter. Balyasny Asset Management LLC now owns 2,507,426 shares of the energy company’s stock worth $71,512,000 after buying an additional 1,967,751 shares in the last quarter. Caymus Capital Partners L.P. purchased a new stake in shares of Devon Energy in the second quarter worth about $48,600,000. Finally, Invesco Ltd. lifted its position in shares of Devon Energy by 5.3% in the second quarter. Invesco Ltd. now owns 28,823,990 shares of the energy company’s stock worth $822,059,000 after buying an additional 1,456,762 shares in the last quarter. Institutional investors own 85.88% of the company’s stock.
Shares of NYSE DVN traded up $0.23 during midday trading on Friday, hitting $22.91. The company’s stock had a trading volume of 5,366,535 shares, compared to its average volume of 7,166,818. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $22.20 and its two-hundred day moving average is $25.68. Devon Energy Corp has a 12-month low of $19.72 and a 12-month high of $35.39. The firm has a market cap of $9.29 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 1.50 and a beta of 2.35.
Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. Devon Energy had a return on equity of 6.08% and a net margin of 16.00%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the business posted $0.63 earnings per share. On average, analysts predict that Devon Energy Corp will post 1.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.57%. Devon Energy’s payout ratio is 27.91%.
In other news, CAO Jeremy D. Humphers sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $21.66, for a total value of $32,490.00. Following the sale, the chief accounting officer now directly owns 42,475 shares in the company, valued at $920,008.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.63% of the company’s stock.
A number of equities research analysts have issued reports on DVN shares. Goldman Sachs Group restated a “sell” rating and set a $25.50 price objective on shares of Devon Energy in a research report on Tuesday, July 23rd. Citigroup decreased their price objective on Devon Energy from $36.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Seaport Global Securities downgraded Devon Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Co upped their price objective on Devon Energy from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Guggenheim set a $35.00 price objective on Devon Energy and gave the company a “buy” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $36.19.
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 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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