Devon Energy Corporation (DVN) Shares Sold by Engineers Gate Manager LP
Engineers Gate Manager LP lowered its stake in Devon Energy Corporation (NYSE:DVN) by 68.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,410 shares of the energy company’s stock after selling 69,593 shares during the period. Engineers Gate Manager LP’s holdings in Devon Energy were worth $1,153,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Devon Energy by 3.0% during the second quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock worth $1,432,998,000 after purchasing an additional 1,295,417 shares during the last quarter. State Street Corp raised its holdings in shares of Devon Energy by 1.0% during the second quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock worth $884,702,000 after purchasing an additional 265,179 shares during the last quarter. Standard Life Investments LTD raised its holdings in shares of Devon Energy by 1.3% during the second quarter. Standard Life Investments LTD now owns 6,054,868 shares of the energy company’s stock worth $193,604,000 after purchasing an additional 75,952 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Devon Energy by 0.3% during the second quarter. Northern Trust Corp now owns 5,955,294 shares of the energy company’s stock worth $190,390,000 after purchasing an additional 18,861 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Devon Energy by 21.6% during the third quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock worth $204,501,000 after purchasing an additional 988,090 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on DVN. Stifel Nicolaus reissued a “buy” rating and set a $67.00 target price on shares of Devon Energy in a report on Sunday, September 3rd. Citigroup reissued a “buy” rating and set a $44.00 target price on shares of Devon Energy in a report on Tuesday, November 28th. BMO Capital Markets set a $45.00 target price on shares of Devon Energy and gave the stock a “buy” rating in a report on Tuesday, October 10th. BidaskClub cut shares of Devon Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Finally, Jefferies Group raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Monday, October 9th. Two investment 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. Devon Energy presently has a consensus rating of “Buy” and an average price target of $45.39.
Shares of Devon Energy Corporation (DVN) opened at $38.41 on Wednesday. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $49.45. The stock has a market cap of $20,190.00, a PE ratio of 26.36, a PEG ratio of 1.21 and a beta of 2.21. 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 (NYSE:DVN) last announced its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business earned $1.89 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. sell-side analysts forecast that Devon Energy Corporation will post 1.77 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.62%. Devon Energy’s dividend payout ratio (DPR) is 8.16%.
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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