OLD Point Trust & Financial Services N A raised its holdings in shares of Devon Energy Corp (NYSE:DVN) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,100 shares of the energy company’s stock after purchasing an additional 1,000 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Devon Energy were worth $972,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of DVN. Norges Bank purchased a new stake in Devon Energy during the 4th quarter valued at $109,799,000. American Century Companies Inc. boosted its stake in shares of Devon Energy by 31.0% in the 4th quarter. American Century Companies Inc. now owns 6,641,322 shares of the energy company’s stock worth $149,695,000 after buying an additional 1,571,861 shares during the last quarter. HAP Trading LLC boosted its stake in shares of Devon Energy by 102.5% in the 1st quarter. HAP Trading LLC now owns 13,433 shares of the energy company’s stock worth $424,000 after buying an additional 544,845 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Devon Energy by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 3,488,973 shares of the energy company’s stock worth $110,112,000 after buying an additional 476,337 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of Devon Energy in the 1st quarter worth $13,886,000. Institutional investors and hedge funds own 84.19% of the company’s stock.
In other news, CAO Jeremy D. Humphers sold 4,000 shares of Devon Energy stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $25.40, for a total value of $101,600.00. Following the sale, the chief accounting officer now directly owns 81,914 shares of the company’s stock, valued at $2,080,615.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.63% of the company’s stock.
NYSE:DVN traded down $0.20 on Tuesday, reaching $26.21. 6,679,592 shares of the company’s stock traded hands, compared to its average volume of 7,079,675. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50-day moving average is $27.19. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.19 and a beta of 2.28. Devon Energy Corp has a 12 month low of $20.37 and a 12 month high of $45.61.
Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, April 30th. The energy company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.06. Devon Energy had a return on equity of 7.12% and a net margin of 29.33%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the firm earned $0.20 earnings per share. As a group, sell-side analysts expect that Devon Energy Corp will post 1.55 EPS for the current 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 issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.37%. Devon Energy’s dividend payout ratio (DPR) is 27.91%.
A number of equities analysts have recently issued reports on the company. Royal Bank of Canada set a $42.00 price target on Devon Energy and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Zacks Investment Research downgraded Genprex from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Barclays set a $325.00 price target on Align Technology and gave the stock a “buy” rating in a research note on Thursday, April 11th. Morgan Stanley set a $207.00 price target on Alibaba Group and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Piper Jaffray Companies set a $360.00 price target on Ulta Beauty and gave the stock a “buy” rating in a research note on Friday, May 31st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $42.28.
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 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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