Municipal Employees Retirement System of Michigan continued to hold its stake in shares of Devon Energy Corporation (NYSE:DVN) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,750 shares of the energy company’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in Devon Energy Corporation were worth $535,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. DnB Asset Management AS boosted its position in Devon Energy Corporation by 20.9% in the first quarter. DnB Asset Management AS now owns 51,575 shares of the energy company’s stock worth $2,152,000 after buying an additional 8,900 shares during the period. Nisa Investment Advisors LLC boosted its position in Devon Energy Corporation by 3.2% in the first quarter. Nisa Investment Advisors LLC now owns 101,879 shares of the energy company’s stock worth $4,250,000 after buying an additional 3,125 shares during the period. State of Alaska Department of Revenue purchased a new position in Devon Energy Corporation during the first quarter worth $116,000. Candriam Luxembourg S.C.A. boosted its position in Devon Energy Corporation by 22.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 111,050 shares of the energy company’s stock worth $4,633,000 after buying an additional 20,354 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Devon Energy Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 12,568 shares of the energy company’s stock worth $490,000 after buying an additional 488 shares during the period. 77.08% of the stock is owned by hedge funds and other institutional investors.
Shares of Devon Energy Corporation (NYSE DVN) opened at 30.40 on Monday. The stock has a market capitalization of $15.98 billion, a PE ratio of 6.88 and a beta of 2.17. Devon Energy Corporation has a 12 month low of $28.79 and a 12 month high of $50.69. The stock’s 50 day moving average is $31.77 and its 200 day moving average is $37.29.
Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The firm had revenue of $3.27 billion for 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 5.36%. The company’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period last year, the firm posted $0.06 earnings per share. Analysts anticipate that Devon Energy Corporation will post $1.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Thursday, September 14th. Devon Energy Corporation’s dividend payout ratio is currently 5.47%.
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DVN has been the topic of a number of analyst reports. TheStreet upgraded shares of Devon Energy Corporation from a “d+” rating to a “c” rating in a research note on Tuesday, May 2nd. Credit Suisse Group lifted their target price on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Royal Bank Of Canada set a $53.00 target price on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, May 29th. Bank of America Corporation restated a “buy” rating on shares of Devon Energy Corporation in a research note on Thursday, May 11th. Finally, Scotiabank set a $57.00 target price on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Tuesday, May 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Devon Energy Corporation presently has a consensus rating of “Buy” and an average target price 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 shares were sold at an average price of $33.35, for a total value of $234,950.75. Following the transaction, the director now directly owns 11,338 shares of the company’s stock, valued at $378,122.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.98% of the company’s stock.
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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