Rhumbline Advisers grew its stake in shares of Devon Energy Corporation (NYSE:DVN) by 0.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 917,363 shares of the energy company’s stock after acquiring an additional 5,247 shares during the quarter. Rhumbline Advisers owned about 0.17% of Devon Energy Corporation worth $33,676,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Sun Life Financial INC lifted its position in shares of Devon Energy Corporation by 32,058.3% during the 2nd quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after buying an additional 3,847 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in shares of Devon Energy Corporation in the second quarter valued at about $144,000. Global X Management Co. LLC increased its stake in shares of Devon Energy Corporation by 12.5% in the second quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock valued at $145,000 after buying an additional 503 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of Devon Energy Corporation by 67.6% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock valued at $182,000 after buying an additional 2,300 shares during the period. Finally, Papp L Roy & Associates acquired a new stake in shares of Devon Energy Corporation in the third quarter valued at about $210,000. Hedge funds and other institutional investors own 77.27% of the company’s stock.
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Several brokerages recently commented on DVN. Stephens upgraded Devon Energy Corporation from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research report on Thursday, November 2nd. Cowen and Company set a $40.00 target price on Devon Energy Corporation and gave the company a “buy” rating in a research report on Tuesday, October 31st. Morgan Stanley increased their price target on Devon Energy Corporation from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. BMO Capital Markets set a $45.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a report on Tuesday, October 10th. Finally, Jefferies Group LLC upgraded Devon Energy Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $45.89.
Devon Energy Corporation (NYSE DVN) opened at $38.64 on Friday. The firm has a market capitalization of $20,310.00, a price-to-earnings ratio of 25.97, a PEG ratio of 1.18 and a beta of 2.22. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63.
Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Devon Energy Corporation had a return on equity of 6.88% and a net margin of 11.62%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 earnings per share. analysts anticipate that Devon Energy Corporation will post 1.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio is 8.16%.
Devon Energy Corporation Company 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).
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