Devon Energy Corporation (DVN) Position Boosted by D.A. Davidson & CO.
D.A. Davidson & CO. lifted its position in shares of Devon Energy Corporation (NYSE:DVN) by 6.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 36,235 shares of the energy company’s stock after buying an additional 2,203 shares during the period. D.A. Davidson & CO.’s holdings in Devon Energy were worth $1,330,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in DVN. Sun Life Financial INC lifted its stake in shares of Devon Energy by 32,058.3% during the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock valued at $123,000 after buying an additional 3,847 shares during the period. Fiduciary Trust Co. purchased a new position in Devon Energy during the second quarter worth approximately $144,000. Global X Management Co. LLC raised its stake in Devon Energy by 12.5% during the second quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after purchasing an additional 503 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in Devon Energy by 67.6% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock worth $182,000 after purchasing an additional 2,300 shares during the period. Finally, Dupont Capital Management Corp purchased a new position in Devon Energy during the second quarter worth approximately $184,000. 77.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Devon Energy Corporation (NYSE:DVN) opened at $38.03 on Friday. The firm has a market cap of $19,965.75, a price-to-earnings ratio of 26.05, a P/E/G ratio of 1.17 and a beta of 2.22. Devon Energy Corporation has a fifty-two week low of $28.79 and a fifty-two week high of $50.69. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87.
Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the business earned $1.89 EPS. equities analysts anticipate that Devon Energy Corporation will post 1.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy’s dividend payout ratio is currently 8.19%.
DVN has been the topic of a number of recent analyst reports. Cowen Inc set a $40.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Barclays PLC reissued an “overweight” rating and issued a $35.00 price objective (up previously from $31.00) on shares of Devon Energy in a research report on Thursday, August 3rd. Piper Jaffray Companies dropped their price objective on shares of Devon Energy from $46.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, September 18th. Royal Bank Of Canada set a $43.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Stephens raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Devon Energy currently has an average rating of “Buy” and a consensus target price of $46.17.
Devon Energy 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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