Devon Energy Corporation (DVN) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its stake in shares of Devon Energy Corporation (NYSE:DVN) by 14.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,527 shares of the energy company’s stock after selling 13,395 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Devon Energy Corporation were worth $2,638,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd bought a new position in shares of Devon Energy Corporation during the 2nd quarter worth about $1,397,000. State Street Corp lifted its position in Devon Energy Corporation by 1.0% in the 2nd quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock valued at $884,702,000 after acquiring an additional 265,179 shares in the last quarter. Dana Investment Advisors Inc. lifted its position in Devon Energy Corporation by 53.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 75,639 shares of the energy company’s stock valued at $2,418,000 after acquiring an additional 26,359 shares in the last quarter. Gotham Asset Management LLC lifted its position in Devon Energy Corporation by 688.9% in the 2nd quarter. Gotham Asset Management LLC now owns 52,401 shares of the energy company’s stock valued at $1,675,000 after acquiring an additional 45,759 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in Devon Energy Corporation by 8.5% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 402,990 shares of the energy company’s stock valued at $12,883,000 after acquiring an additional 31,685 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Devon Energy Corporation (DVN) Shares Sold by Cubist Systematic Strategies LLC” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/devon-energy-corporation-dvn-shares-sold-by-cubist-systematic-strategies-llc.html.

Shares of Devon Energy Corporation (DVN) traded up 0.11% during midday trading on Monday, hitting $35.82. 414,382 shares of the stock traded hands. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The company’s 50-day moving average is $33.53 and its 200 day moving average is $34.90. The firm has a market capitalization of $18.83 billion, a PE ratio of 8.10 and a beta of 2.21.

Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The firm’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share. Analysts anticipate that Devon Energy Corporation will post $1.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.67%. Devon Energy Corporation’s dividend payout ratio (DPR) is 5.47%.

Several brokerages recently weighed in on DVN. BMO Capital Markets raised their price target on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $67.00 price target on shares of Devon Energy Corporation in a research report on Sunday, September 3rd. Barclays PLC reaffirmed an “overweight” rating and issued a $35.00 price target (up previously from $31.00) on shares of Devon Energy Corporation in a research report on Wednesday, August 9th. Seaport Global Securities cut shares of Devon Energy Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the company from $51.00 to $28.00 in a research report on Wednesday, June 21st. Finally, Sanford C. Bernstein cut shares of Devon Energy Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $54.00 to $33.00 in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.29.

In related news, Director Robert H. Henry sold 7,045 shares of the stock

Several other hedge funds also recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd bought a new position in shares of Devon Energy Corporation during the 2nd quarter worth about $1,397,000. State Street Corp lifted its position in Devon Energy Corporation by 1.0% in the 2nd quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock valued at $884,702,000 after acquiring an additional 265,179 shares in the last quarter. Dana Investment Advisors Inc. lifted its position in Devon Energy Corporation by 53.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 75,639 shares of the energy company’s stock valued at $2,418,000 after acquiring an additional 26,359 shares in the last quarter. Gotham Asset Management LLC lifted its position in Devon Energy Corporation by 688.9% in the 2nd quarter. Gotham Asset Management LLC now owns 52,401 shares of the energy company’s stock valued at $1,675,000 after acquiring an additional 45,759 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in Devon Energy Corporation by 8.5% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 402,990 shares of the energy company’s stock valued at $12,883,000 after acquiring an additional 31,685 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Devon Energy Corporation (DVN) Shares Sold by Cubist Systematic Strategies LLC” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/devon-energy-corporation-dvn-shares-sold-by-cubist-systematic-strategies-llc.html.

Shares of Devon Energy Corporation (DVN) traded up 0.11% during midday trading on Monday, hitting $35.82. 414,382 shares of the stock traded hands. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The company’s 50-day moving average is $33.53 and its 200 day moving average is $34.90. The firm has a market capitalization of $18.83 billion, a PE ratio of 8.10 and a beta of 2.21.

Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The firm’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share. Analysts anticipate that Devon Energy Corporation will post $1.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.67%. Devon Energy Corporation’s dividend payout ratio (DPR) is 5.47%.

Several brokerages recently weighed in on DVN. BMO Capital Markets raised their price target on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $67.00 price target on shares of Devon Energy Corporation in a research report on Sunday, September 3rd. Barclays PLC reaffirmed an “overweight” rating and issued a $35.00 price target (up previously from $31.00) on shares of Devon Energy Corporation in a research report on Wednesday, August 9th. Seaport Global Securities cut shares of Devon Energy Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the company from $51.00 to $28.00 in a research report on Wednesday, June 21st. Finally, Sanford C. Bernstein cut shares of Devon Energy Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $54.00 to $33.00 in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.29.

In related news, Director Robert H. Henry sold 7,045 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $33.35, for a total transaction of $234,950.75. Following the transaction, the director now owns 11,338 shares in the company, valued at $378,122.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.51% of the stock is owned by corporate insiders.

Devon Energy Corporation Profile

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

Institutional Ownership by Quarter for Devon Energy Corporation (NYSE:DVN)

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