Reliance Trust Co. of Delaware increased its position in Devon Energy Corporation (NYSE:DVN) by 0.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,314 shares of the energy company’s stock after buying an additional 1 shares during the period. Reliance Trust Co. of Delaware’s holdings in Devon Energy Corporation were worth $362,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Asset Management Inc. boosted its position in Devon Energy Corporation by 3.5% in the first quarter. Private Asset Management Inc. now owns 23,211 shares of the energy company’s stock worth $968,000 after buying an additional 786 shares in the last quarter. Triangle Securities Wealth Management boosted its position in Devon Energy Corporation by 4.4% in the first quarter. Triangle Securities Wealth Management now owns 10,109 shares of the energy company’s stock worth $422,000 after buying an additional 430 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in Devon Energy Corporation by 2.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 629,647 shares of the energy company’s stock worth $26,269,000 after buying an additional 13,072 shares in the last quarter. New England Research & Management Inc. bought a new position in Devon Energy Corporation during the first quarter worth about $561,000. Finally, Gulf International Bank UK Ltd boosted its position in Devon Energy Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 145,818 shares of the energy company’s stock worth $6,083,000 after buying an additional 2,000 shares in the last quarter. 77.22% of the stock is owned by institutional investors and hedge funds.
Shares of Devon Energy Corporation (NYSE:DVN) opened at 33.40 on Thursday. Devon Energy Corporation has a 12 month low of $28.79 and a 12 month high of $50.69. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of 56.71 and a beta of 2.17. The stock has a 50 day moving average of $31.57 and a 200 day moving average of $38.48.
Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.47%. The business’s revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 EPS. On average, equities research analysts expect that Devon Energy Corporation will post $1.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.72%. Devon Energy Corporation’s dividend payout ratio is presently 5.47%.
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DVN has been the subject of a number of research analyst reports. Stifel Nicolaus initiated coverage on shares of Devon Energy Corporation in a report on Wednesday, April 12th. They issued a “buy” rating and a $73.00 price target for the company. They noted that the move was a valuation call. Barclays PLC reaffirmed an “overweight” rating and issued a $47.00 price target (down previously from $54.00) on shares of Devon Energy Corporation in a report on Saturday, April 22nd. Royal Bank Of Canada set a $53.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a report on Tuesday, April 25th. BMO Capital Markets reaffirmed a “buy” rating and issued a $45.00 price target on shares of Devon Energy Corporation in a report on Wednesday, May 3rd. Finally, Credit Suisse Group raised their price target on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $47.82.
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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