Qsemble Capital Management LP Purchases New Holdings in Devon Energy Co. (NYSE:DVN)

Qsemble Capital Management LP purchased a new stake in shares of Devon Energy Co. (NYSE:DVN) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 102,377 shares of the energy company’s stock, valued at approximately $4,853,000. Devon Energy comprises 0.9% of Qsemble Capital Management LP’s portfolio, making the stock its 9th largest holding.

A number of other large investors also recently bought and sold shares of the business. Salem Investment Counselors Inc. increased its stake in Devon Energy by 31.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. Retirement Group LLC increased its stake in Devon Energy by 21.8% during the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock valued at $56,000 after purchasing an additional 199 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Devon Energy by 7.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock valued at $153,000 after purchasing an additional 209 shares in the last quarter. MCF Advisors LLC increased its stake in Devon Energy by 5.6% during the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock valued at $202,000 after purchasing an additional 215 shares in the last quarter. Finally, Annex Advisory Services LLC increased its stake in Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after purchasing an additional 223 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

DVN opened at $39.93 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a market cap of $25.24 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 1.17 and a beta of 2.03. The company’s 50 day moving average is $44.95 and its 200 day moving average is $47.49. Devon Energy Co. has a 12-month low of $39.02 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts predict that Devon Energy Co. will post 5.37 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, September 13th. Devon Energy’s dividend payout ratio is currently 16.79%.

Analyst Ratings Changes

A number of research firms have weighed in on DVN. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price target on shares of Devon Energy from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Wells Fargo & Company reduced their price target on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Sanford C. Bernstein reduced their price target on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.63.

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.