Honkamp Krueger Financial Services Inc. increased its stake in shares of Devon Energy Corporation (NYSE:DVN) by 1.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,048 shares of the energy company’s stock after buying an additional 96 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in Devon Energy Corporation were worth $225,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in DVN. FTB Advisors Inc. boosted its stake in Devon Energy Corporation by 84.2% in the first quarter. FTB Advisors Inc. now owns 2,755 shares of the energy company’s stock valued at $108,000 after buying an additional 1,259 shares during the period. Fifth Third Bancorp boosted its stake in shares of Devon Energy Corporation by 10.4% in the first quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock worth $110,000 after buying an additional 248 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Devon Energy Corporation during the first quarter worth approximately $116,000. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in shares of Devon Energy Corporation by 88.9% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,400 shares of the energy company’s stock worth $142,000 after buying an additional 1,600 shares during the period. Finally, Financial Architects Inc boosted its stake in shares of Devon Energy Corporation by 525.4% in the first quarter. Financial Architects Inc now owns 3,884 shares of the energy company’s stock worth $162,000 after buying an additional 3,263 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.
Devon Energy Corporation (DVN) traded down 0.48% during midday trading on Tuesday, hitting $30.92. The company’s stock had a trading volume of 4,004,871 shares. Devon Energy Corporation has a one year low of $28.79 and a one year high of $50.69. The company’s 50-day moving average is $31.81 and its 200 day moving average is $37.50. The company has a market cap of $16.25 billion, a price-to-earnings ratio of 7.00 and a beta of 2.17.
Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the business posted $0.06 earnings per share. The firm’s revenue was up 31.6% compared to the same quarter last year. On average, analysts predict that Devon Energy Corporation will post $1.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Thursday, September 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is presently 5.47%.
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A number of analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Barclays PLC restated an “overweight” rating and set a $47.00 target price (down previously from $54.00) on shares of Devon Energy Corporation in a report on Saturday, April 22nd. Seaport Global Securities cut shares of Devon Energy Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $51.00 to $28.00 in a report on Wednesday, June 21st. Credit Suisse Group AG boosted their target price on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. Finally, Scotiabank set a $57.00 target price on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Tuesday, May 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $47.62.
In other news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total value of $234,950.75. Following the completion of the transaction, the director now directly owns 11,338 shares in the company, valued at $378,122.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.98% of the company’s stock.
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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