Devon Energy Corporation (DVN) Position Boosted by Credit Agricole S A
Credit Agricole S A raised its stake in Devon Energy Corporation (NYSE:DVN) by 7.5% during the first quarter, Holdings Channel reports. The institutional investor owned 616,187 shares of the energy company’s stock after buying an additional 42,868 shares during the period. Credit Agricole S A owned 0.12% of Devon Energy Corporation worth $25,707,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Rafferty Asset Management LLC increased its stake in shares of Devon Energy Corporation by 137.8% in the first quarter. Rafferty Asset Management LLC now owns 29,761 shares of the energy company’s stock valued at $1,242,000 after buying an additional 17,248 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new stake in shares of Devon Energy Corporation during the first quarter valued at about $438,000. River & Mercantile Asset Management LLP increased its stake in shares of Devon Energy Corporation by 16.9% in the first quarter. River & Mercantile Asset Management LLP now owns 168,500 shares of the energy company’s stock valued at $7,032,000 after buying an additional 24,300 shares in the last quarter. Schafer Cullen Capital Management Inc. increased its stake in shares of Devon Energy Corporation by 1.0% in the first quarter. Schafer Cullen Capital Management Inc. now owns 49,197 shares of the energy company’s stock valued at $2,052,000 after buying an additional 485 shares in the last quarter. Finally, Steinberg Global Asset Management increased its stake in shares of Devon Energy Corporation by 6.5% in the first quarter. Steinberg Global Asset Management now owns 12,291 shares of the energy company’s stock valued at $513,000 after buying an additional 753 shares in the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Devon Energy Corporation (NYSE DVN) traded up 0.86% during mid-day trading on Friday, reaching $31.76. The company had a trading volume of 6,384,828 shares. The firm’s 50 day moving average is $35.86 and its 200-day moving average is $42.05. Devon Energy Corporation has a 12-month low of $31.25 and a 12-month high of $50.69. The stock has a market capitalization of $16.70 billion, a P/E ratio of 53.92 and a beta of 2.10.
Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $2.98 billion. Devon Energy Corporation had a return on equity of 4.25% and a net margin of 2.34%. On average, analysts expect that Devon Energy Corporation will post $1.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, September 14th. Devon Energy Corporation’s dividend payout ratio is presently 43.64%.
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Several equities research analysts recently issued reports on the company. BidaskClub raised Devon Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price objective on shares of Devon Energy Corporation in a research note on Tuesday, June 6th. Royal Bank Of Canada set a $53.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, May 29th. Scotiabank set a $57.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Tuesday, May 16th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $38.00 price objective on shares of Devon Energy Corporation in a research note on Wednesday, May 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $51.95.
In other Devon Energy Corporation news, Director Robert A. Mosbacher, Jr. sold 800 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $39.18, for a total value of $31,344.00. Following the sale, the director now owns 23,308 shares of the company’s stock, valued at approximately $913,207.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.98% of the company’s stock.
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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