Devon Energy Corp (NYSE:DVN) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 13,393,600 shares, a growth of 14.2% from the May 30th total of 11,724,700 shares. Based on an average daily trading volume, of 6,230,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 3.2% of the shares of the stock are short sold.
In related news, CAO Jeremy D. Humphers sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $25.40, for a total transaction of $101,600.00. Following the completion of the transaction, the chief accounting officer now owns 81,914 shares in the company, valued at approximately $2,080,615.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.63% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its stake in shares of Devon Energy by 94.6% in the 1st quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock valued at $26,000 after buying an additional 400 shares during the period. Lavaca Capital LLC increased its stake in shares of Devon Energy by 566.0% in the 1st quarter. Lavaca Capital LLC now owns 1,332 shares of the energy company’s stock valued at $42,000 after buying an additional 1,132 shares during the period. Signaturefd LLC increased its stake in shares of Devon Energy by 46.0% in the 1st quarter. Signaturefd LLC now owns 2,569 shares of the energy company’s stock valued at $81,000 after buying an additional 809 shares during the period. Mizuho Securities Co. Ltd. increased its stake in shares of Devon Energy by 100.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 3,000 shares of the energy company’s stock valued at $95,000 after buying an additional 1,500 shares during the period. Finally, Osborn Williams & Donohoe LLC acquired a new stake in shares of Devon Energy in the 1st quarter valued at $129,000. 84.06% of the stock is owned by institutional investors.
Several equities analysts recently commented on the company. Barclays set a $325.00 target price on Align Technology and gave the stock a “buy” rating in a research report on Thursday, April 11th. Morgan Stanley set a $207.00 target price on Alibaba Group and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Co downgraded Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research report on Monday, May 20th. Royal Bank of Canada set a $42.00 target price on Devon Energy and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Finally, Zacks Investment Research cut Genprex from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Devon Energy presently has an average rating of “Hold” and a consensus target price of $44.25.
DVN stock traded down $0.01 during midday trading on Friday, reaching $28.65. 4,853,535 shares of the company’s stock traded hands, compared to its average volume of 5,544,847. The business has a 50-day moving average of $27.07. Devon Energy has a 1-year low of $20.37 and a 1-year high of $45.61. The stock has a market cap of $11.90 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 2.10 and a beta of 2.27. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.74.
Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, April 30th. The energy company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.06. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Devon Energy had a return on equity of 7.12% and a net margin of 29.33%. During the same period last year, the firm earned $0.20 EPS. On average, sell-side analysts anticipate that Devon Energy will post 1.7 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.09 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.26%. Devon Energy’s dividend payout ratio (DPR) is currently 27.91%.
About Devon Energy
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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