Mraz Amerine & Associates Inc. lowered its stake in shares of Devon Energy Corp. (NYSE:DVN) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 97,409 shares of the energy company’s stock after selling 1,671 shares during the period. Devon Energy Corp. comprises about 1.2% of Mraz Amerine & Associates Inc.’s portfolio, making the stock its 17th largest position. Mraz Amerine & Associates Inc.’s holdings in Devon Energy Corp. were worth $3,531,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in DVN. Geode Capital Management LLC boosted its position in shares of Devon Energy Corp. by 29.0% in the first quarter. Geode Capital Management LLC now owns 4,016,066 shares of the energy company’s stock valued at $109,975,000 after buying an additional 902,528 shares during the last quarter. Guinness Asset Management Ltd boosted its position in shares of Devon Energy Corp. by 0.7% in the second quarter. Guinness Asset Management Ltd now owns 307,076 shares of the energy company’s stock valued at $11,132,000 after buying an additional 2,000 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Devon Energy Corp. by 53.3% in the first quarter. Wellington Management Group LLP now owns 1,770,278 shares of the energy company’s stock valued at $48,576,000 after buying an additional 615,396 shares during the last quarter. Springbok Capital Management LLC boosted its position in shares of Devon Energy Corp. by 3,416.2% in the first quarter. Springbok Capital Management LLC now owns 13,713 shares of the energy company’s stock valued at $376,000 after buying an additional 13,323 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Devon Energy Corp. during the first quarter valued at about $45,597,000. 75.62% of the stock is currently owned by institutional investors.
Shares of Devon Energy Corp. (NYSE:DVN) traded up 0.25% during midday trading on Monday, reaching $39.64. The company had a trading volume of 6,357,391 shares. Devon Energy Corp. has a 52 week low of $18.07 and a 52 week high of $48.68. The firm’s market capitalization is $20.76 billion. The stock has a 50-day moving average of $42.60 and a 200 day moving average of $35.69.
Devon Energy Corp. (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 2nd. The energy company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.25. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.29 million. Devon Energy Corp. had a positive return on equity of 3.62% and a negative net margin of 114.09%. The business’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. On average, analysts anticipate that Devon Energy Corp. will post ($0.28) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.24 dividend on an annualized basis and a yield of 0.61%. Devon Energy Corp.’s dividend payout ratio is presently -0.82%.
DVN has been the topic of several analyst reports. Vetr raised Devon Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $46.16 target price on the stock in a research report on Tuesday, September 20th. Argus lifted their target price on Devon Energy Corp. from $51.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Barclays PLC lifted their price target on Devon Energy Corp. from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, September 1st. Bank of America Corp. reiterated a “buy” rating and set a $50.00 price target on shares of Devon Energy Corp. in a report on Tuesday, June 7th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Devon Energy Corp. in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $42.09.
Devon Energy Corp. Company Profile
Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.
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