Shapiro Capital Management LLC boosted its stake in Devon Energy Corporation (NYSE:DVN) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,322,734 shares of the energy company’s stock after acquiring an additional 16,451 shares during the quarter. Shapiro Capital Management LLC owned 0.25% of Devon Energy Corporation worth $42,288,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Devon Energy Corporation by 3,279.8% in the 1st quarter. BlackRock Inc. now owns 46,398,296 shares of the energy company’s stock valued at $1,935,735,000 after acquiring an additional 45,025,477 shares during the period. Vanguard Group Inc. grew its stake in Devon Energy Corporation by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 43,527,746 shares of the energy company’s stock valued at $1,815,977,000 after acquiring an additional 1,385,334 shares during the period. Artisan Partners Limited Partnership grew its stake in Devon Energy Corporation by 3.3% in the 1st quarter. Artisan Partners Limited Partnership now owns 8,077,398 shares of the energy company’s stock valued at $336,989,000 after acquiring an additional 255,610 shares during the period. Standard Life Investments LTD grew its stake in Devon Energy Corporation by 1.3% in the 2nd quarter. Standard Life Investments LTD now owns 6,054,868 shares of the energy company’s stock valued at $193,604,000 after acquiring an additional 75,952 shares during the period. Finally, Geode Capital Management LLC grew its stake in Devon Energy Corporation by 16.7% in the 1st quarter. Geode Capital Management LLC now owns 5,496,960 shares of the energy company’s stock valued at $229,034,000 after acquiring an additional 786,562 shares during the period. 76.99% of the stock is currently owned by hedge funds and other institutional investors.
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In related 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 transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.98% of the company’s stock.
A number of research firms recently issued reports on DVN. Barclays PLC reissued an “overweight” rating and issued a $35.00 price target (up previously from $31.00) on shares of Devon Energy Corporation in a research note on Wednesday, August 9th. Scotiabank set a $49.00 price target on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Saturday, July 1st. Piper Jaffray Companies lowered their target price on shares of Devon Energy Corporation from $46.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday. Cowen and Company reaffirmed a “buy” rating and set a $37.00 target price on shares of Devon Energy Corporation in a research note on Tuesday, August 22nd. Finally, BidaskClub cut shares of Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $45.64.
Shares of Devon Energy Corporation (NYSE:DVN) traded down 0.15% during mid-day trading on Tuesday, reaching $33.92. 1,761,022 shares of the company’s stock were exchanged. The stock has a market cap of $17.83 billion, a price-to-earnings ratio of 7.67 and a beta of 2.18. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The stock has a 50 day moving average price of $31.91 and a 200 day moving average price of $35.35.
Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS. Equities research analysts predict that Devon Energy Corporation will post $1.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.06 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.71%. Devon Energy Corporation’s dividend payout ratio (DPR) is 5.47%.
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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