Stonebridge Capital Management Inc. Acquires 5,555 Shares of Devon Energy Corporation (DVN)
Stonebridge Capital Management Inc. increased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 18.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,003 shares of the energy company’s stock after buying an additional 5,555 shares during the period. Stonebridge Capital Management Inc.’s holdings in Devon Energy Corporation were worth $1,285,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Sun Life Financial INC increased its stake in Devon Energy Corporation by 32,058.3% during the 2nd quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after buying an additional 3,847 shares during the period. Fiduciary Trust Co. purchased a new stake in Devon Energy Corporation during the 2nd quarter worth approximately $144,000. Global X Management Co. LLC increased its stake in Devon Energy Corporation by 12.5% during the 2nd quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after buying an additional 503 shares during the period. FNY Partners Fund LP increased its stake in Devon Energy Corporation by 19,500.0% during the 1st quarter. FNY Partners Fund LP now owns 4,900 shares of the energy company’s stock worth $204,000 after buying an additional 4,875 shares during the period. Finally, Point72 Asia Hong Kong Ltd increased its stake in Devon Energy Corporation by 41.1% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 5,552 shares of the energy company’s stock worth $232,000 after buying an additional 1,616 shares during the period. 77.58% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Devon Energy Corporation (NYSE DVN) traded up $0.88 during trading hours on Monday, reaching $40.15. 1,848,062 shares of the company were exchanged, compared to its average volume of 4,645,147. The firm has a market cap of $20,616.75, a PE ratio of 26.90, a P/E/G ratio of 1.25 and a beta of 2.22. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69.
Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.07. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Devon Energy Corporation had a net margin of 11.62% and a return on equity of 6.88%. Devon Energy Corporation’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. analysts anticipate that Devon Energy Corporation will post 1.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio is currently 8.19%.
DVN has been the topic of several recent research reports. Scotiabank set a $49.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, July 31st. Citigroup Inc. cut their target price on shares of Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $43.00 target price on shares of Devon Energy Corporation in a research note on Thursday, July 20th. Cowen and Company set a $37.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, Stifel Nicolaus set a $61.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Devon Energy Corporation currently has a consensus rating of “Buy” and an average target price of $45.89.
Devon Energy Corporation 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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