Devon Energy Corporation (DVN) Shares Bought by BlueMountain Capital Management LLC
BlueMountain Capital Management LLC boosted its holdings in Devon Energy Corporation (NYSE:DVN) by 159.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,114 shares of the energy company’s stock after buying an additional 48,025 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Devon Energy Corporation were worth $2,497,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Investec Asset Management LTD boosted its stake in Devon Energy Corporation by 6.5% in the first quarter. Investec Asset Management LTD now owns 571,980 shares of the energy company’s stock valued at $23,863,000 after buying an additional 35,008 shares in the last quarter. Shapiro Capital Management LLC boosted its stake in Devon Energy Corporation by 2.2% in the first quarter. Shapiro Capital Management LLC now owns 1,306,283 shares of the energy company’s stock valued at $54,498,000 after buying an additional 28,695 shares in the last quarter. Teachers Advisors LLC boosted its stake in Devon Energy Corporation by 2.3% in the first quarter. Teachers Advisors LLC now owns 939,950 shares of the energy company’s stock valued at $39,215,000 after buying an additional 20,850 shares in the last quarter. HGK Asset Management Inc. boosted its stake in Devon Energy Corporation by 7.0% in the first quarter. HGK Asset Management Inc. now owns 319,570 shares of the energy company’s stock valued at $13,332,000 after buying an additional 20,970 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in Devon Energy Corporation in the first quarter valued at about $6,649,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the transaction, the director now directly owns 11,338 shares in the company, valued at $378,122.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by insiders.
Shares of Devon Energy Corporation (NYSE DVN) opened at 33.65 on Monday. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The firm has a 50 day moving average price of $31.89 and a 200 day moving average price of $35.54. The company has a market capitalization of $17.69 billion, a price-to-earnings ratio of 7.61 and a beta of 2.18.
Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The company’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. Equities analysts forecast that Devon Energy Corporation will post $1.74 EPS for the current year.
The business also recently announced 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 of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a yield of 0.71%. Devon Energy Corporation’s dividend payout ratio (DPR) is presently 5.47%.
A number of analysts have recently commented on the company. Royal Bank Of Canada set a $53.00 price target on Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, May 29th. BidaskClub raised Devon Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Barclays PLC reissued an “overweight” rating and set a $35.00 price target (up from $31.00) on shares of Devon Energy Corporation in a research note on Thursday, August 3rd. Scotiabank set a $49.00 price target on Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Stifel Nicolaus restated a “buy” rating and set a $74.00 price objective on shares of Devon Energy Corporation in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Devon Energy Corporation presently has an average rating of “Buy” and a consensus target price of $46.27.
About Devon Energy Corporation
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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