Penserra Capital Management LLC raised its holdings in shares of Devon Energy Corp (NYSE:DVN) by 183.5% in the fourth quarter, HoldingsChannel reports. The firm owned 5,982 shares of the energy company’s stock after purchasing an additional 3,872 shares during the period. Penserra Capital Management LLC’s holdings in Devon Energy were worth $133,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in DVN. Morgan Stanley increased its position in shares of Devon Energy by 105.9% during the third quarter. Morgan Stanley now owns 2,521,826 shares of the energy company’s stock valued at $100,722,000 after acquiring an additional 1,296,801 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Devon Energy by 2,129.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,274,907 shares of the energy company’s stock valued at $57,000 after acquiring an additional 1,217,716 shares in the last quarter. FMR LLC increased its position 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 valued at $517,962,000 after acquiring an additional 1,173,389 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Devon Energy by 57.3% during the third quarter. Clearbridge Investments LLC now owns 3,195,598 shares of the energy company’s stock valued at $127,632,000 after acquiring an additional 1,164,365 shares in the last quarter. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Devon Energy during the third quarter valued at approximately $40,839,000. 80.51% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on DVN shares. Morgan Stanley set a $33.00 target price on shares of Devon Energy and gave the stock a “hold” rating in a report on Tuesday, January 29th. TheStreet cut shares of Devon Energy from a “c-” rating to a “d+” rating in a report on Friday, November 2nd. Capital One Financial upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, October 24th. They noted that the move was a valuation call. Mizuho set a $31.00 target price on shares of Devon Energy and gave the stock a “hold” rating in a report on Wednesday, November 28th. Finally, Barclays cut shares of Devon Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $42.00 to $33.00 in a report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $45.95.
Shares of Devon Energy stock opened at $30.27 on Thursday. The firm has a market cap of $13.25 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.69 and a beta of 2.23. Devon Energy Corp has a 1-year low of $20.37 and a 1-year high of $46.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.48 and a current ratio of 1.48.
Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 19th. The energy company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.21). The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Devon Energy had a return on equity of 5.41% and a net margin of 24.82%. During the same quarter in the prior year, the business earned $0.38 EPS. As a group, equities analysts expect that Devon Energy Corp will post 1.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Thursday, June 13th. This is a boost from Devon Energy’s previous quarterly dividend of $0.08. Devon Energy’s dividend payout ratio (DPR) is currently 24.81%.
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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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