Bank Hapoalim BM purchased a new stake in shares of Devon Energy Corp (NYSE:DVN) during the first quarter, HoldingsChannel reports. The fund purchased 13,955 shares of the energy company’s stock, valued at approximately $440,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC lifted its stake in shares of Devon Energy by 34.1% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 2,164,709 shares of the energy company’s stock valued at $86,458,000 after purchasing an additional 550,866 shares during the period. Morgan Stanley lifted its stake in shares of Devon Energy by 105.9% in the 3rd quarter. Morgan Stanley now owns 2,521,826 shares of the energy company’s stock valued at $100,722,000 after purchasing an additional 1,296,801 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Devon Energy by 5.5% in the 4th quarter. State of Alaska Department of Revenue now owns 76,431 shares of the energy company’s stock valued at $1,722,000 after purchasing an additional 4,009 shares during the period. First Hawaiian Bank lifted its stake in shares of Devon Energy by 10.7% in the 4th quarter. First Hawaiian Bank now owns 7,926 shares of the energy company’s stock valued at $178,000 after purchasing an additional 767 shares during the period. Finally, Hedeker Wealth LLC lifted its stake in shares of Devon Energy by 3.0% in the 4th quarter. Hedeker Wealth LLC now owns 24,736 shares of the energy company’s stock valued at $557,000 after purchasing an additional 712 shares during the period. 92.25% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on DVN. Royal Bank of Canada set a $42.00 price target on Devon Energy and gave the company a “hold” rating in a research note on Thursday, May 2nd. Macquarie set a $40.00 price target on Devon Energy and gave the company a “buy” rating in a research note on Thursday, May 2nd. ValuEngine downgraded Devon Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Zacks Investment Research raised Devon Energy from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Thursday, April 18th. Finally, Barclays reissued a “hold” rating and issued a $36.00 price target on shares of Devon Energy in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. Devon Energy currently has an average rating of “Hold” and a consensus target price of $45.29.
Shares of Devon Energy stock opened at $30.93 on Thursday. The firm has a market cap of $12.60 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 0.83 and a beta of 2.23. Devon Energy Corp has a 12 month low of $20.37 and a 12 month high of $46.54. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.37 and a current ratio of 1.37.
Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, April 30th. The energy company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.06. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $2.52 billion. Devon Energy had a return on equity of 7.12% and a net margin of 29.33%. During the same quarter last year, the business posted $0.20 EPS. On average, analysts expect that Devon Energy Corp will post 2.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors 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 yield of 1.16%. The ex-dividend date is Thursday, June 13th. This is an increase from Devon Energy’s previous quarterly dividend of $0.08. Devon Energy’s dividend payout ratio (DPR) is presently 24.81%.
In other Devon Energy news, Director Robert H. Henry acquired 11,651 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were acquired at an average price of $30.01 per share, with a total value of $349,646.51. Following the purchase, the director now owns 21,355 shares of the company’s stock, valued at approximately $640,863.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.55% of the company’s stock.
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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 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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