Devon Energy Corporation $DVN Shares Sold by Profund Advisors LLC

Profund Advisors LLC lessened its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,702 shares of the energy company’s stock after selling 1,881 shares during the period. Profund Advisors LLC’s holdings in Devon Energy were worth $818,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DVN. Vanguard Group Inc. boosted its position in shares of Devon Energy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock worth $3,096,000,000 after purchasing an additional 2,098,568 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Devon Energy by 12.9% in the first quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company’s stock valued at $430,805,000 after purchasing an additional 1,315,050 shares during the period. Northern Trust Corp boosted its holdings in Devon Energy by 5.1% during the first quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock worth $245,987,000 after buying an additional 316,460 shares in the last quarter. Ameriprise Financial Inc. grew its position in Devon Energy by 81.1% during the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock worth $188,131,000 after buying an additional 2,252,918 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Devon Energy by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company’s stock valued at $176,036,000 after buying an additional 354,633 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Devon Energy stock opened at $35.15 on Wednesday. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $39.74. The company has a market capitalization of $22.31 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 2.49 and a beta of 1.01. The stock has a fifty day moving average of $33.90 and a two-hundred day moving average of $33.32. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.During the same quarter last year, the company earned $1.10 earnings per share. On average, analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. Devon Energy’s payout ratio is 22.59%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley decreased their price target on Devon Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Roth Capital began coverage on Devon Energy in a report on Monday, October 13th. They set a “buy” rating and a $42.00 price objective for the company. Wells Fargo & Company lowered their target price on Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Susquehanna dropped their price target on Devon Energy to $41.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Finally, William Blair started coverage on shares of Devon Energy in a research report on Monday, August 25th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.04.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.