Blume Capital Management Inc. raised its position in shares of Devon Energy Corp (NYSE:DVN) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,130 shares of the energy company’s stock after buying an additional 5,019 shares during the period. Devon Energy Corp makes up 2.2% of Blume Capital Management Inc.’s holdings, making the stock its 20th largest position. Blume Capital Management Inc.’s holdings in Devon Energy Corp were worth $3,841,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in DVN. Exencial Wealth Advisors LLC increased its position in Devon Energy Corp by 0.4% in the first quarter. Exencial Wealth Advisors LLC now owns 13,021 shares of the energy company’s stock valued at $511,000 after buying an additional 46 shares during the last quarter. Park National Corp OH increased its position in Devon Energy Corp by 0.8% in the second quarter. Park National Corp OH now owns 6,779 shares of the energy company’s stock valued at $217,000 after buying an additional 54 shares during the last quarter. Point View Wealth Management Inc. increased its position in Devon Energy Corp by 1.2% in the second quarter. Point View Wealth Management Inc. now owns 8,334 shares of the energy company’s stock valued at $266,000 after buying an additional 95 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its position in Devon Energy Corp by 1.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock valued at $225,000 after buying an additional 96 shares during the last quarter. Finally, Wedbush Securities Inc. increased its position in Devon Energy Corp by 1.1% in the second quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock valued at $297,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.
Devon Energy Corp (NYSE:DVN) traded up 0.13% during mid-day trading on Friday, hitting $31.16. The company’s stock had a trading volume of 3,246,941 shares. The stock has a market cap of $16.38 billion, a P/E ratio of 7.05 and a beta of 2.17. The company’s 50 day moving average is $31.66 and its 200-day moving average is $36.76. Devon Energy Corp has a 52-week low of $28.79 and a 52-week high of $50.69.
Devon Energy Corp (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Devon Energy Corp had a return on equity of 25.21% and a net margin of 13.84%. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the previous year, the firm posted $0.06 EPS. Devon Energy Corp’s revenue was up 31.6% compared to the same quarter last year. On average, equities analysts predict that Devon Energy Corp will post $1.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, September 14th. Devon Energy Corp’s payout ratio is 5.47%.
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Several research analysts have recently weighed in on DVN shares. BMO Capital Markets reiterated a “buy” rating and set a $45.00 price target on shares of Devon Energy Corp in a research note on Wednesday, May 3rd. Credit Suisse Group increased their price target on Devon Energy Corp from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, May 4th. TheStreet upgraded Devon Energy Corp from a “d+” rating to a “c” rating in a research note on Tuesday, May 2nd. Bank of America Corporation reiterated a “buy” rating on shares of Devon Energy Corp in a research note on Thursday, May 11th. Finally, KLR Group reiterated a “buy” rating and set a $54.00 price target (up previously from $52.00) on shares of Devon Energy Corp in a research note on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.30.
In related news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corp 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 sale, the director now directly owns 11,338 shares in the company, valued at approximately $378,122.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.98% of the company’s stock.
Devon Energy Corp 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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