Calamos Advisors LLC increased its stake in shares of Devon Energy Corp. (NYSE:DVN) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,203 shares of the energy company’s stock after buying an additional 24 shares during the period. Calamos Advisors LLC’s holdings in Devon Energy Corp. were worth $3,379,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in DVN. Hall Laurie J Trustee raised its position in Devon Energy Corp. by 13.7% in the second quarter. Hall Laurie J Trustee now owns 3,745 shares of the energy company’s stock valued at $141,000 after buying an additional 450 shares during the last quarter. RS Investment Management Co. LLC bought a new position in Devon Energy Corp. during the second quarter valued at $144,000. Botty Investors LLC raised its position in Devon Energy Corp. by 181.8% in the second quarter. Botty Investors LLC now owns 4,650 shares of the energy company’s stock valued at $169,000 after buying an additional 3,000 shares during the last quarter. Rehmann Capital Advisory Group bought a new position in Devon Energy Corp. during the first quarter valued at $201,000. Finally, Franklin Street Advisors Inc. NC bought a new position in Devon Energy Corp. during the second quarter valued at $201,000. 75.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Devon Energy Corp. (NYSE:DVN) traded up 2.49% during midday trading on Friday, reaching $44.11. The company had a trading volume of 5,969,774 shares. Devon Energy Corp. has a one year low of $18.07 and a one year high of $48.68. The company’s market capitalization is $23.10 billion. The company has a 50 day moving average of $42.78 and a 200 day moving average of $36.34.
Devon Energy Corp. (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.25. Devon Energy Corp. had a positive return on equity of 3.62% and a negative net margin of 114.09%. The business earned $2.49 billion during the quarter, compared to analyst estimates of $2.29 million. During the same period in the prior year, the company earned $0.78 earnings per share. Devon Energy Corp.’s revenue was down 26.7% compared to the same quarter last year. Analysts predict that Devon Energy Corp. will post ($0.29) EPS for the current fiscal year.
The company also recently disclosed 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. This represents a $0.24 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, December 13th. Devon Energy Corp.’s dividend payout ratio (DPR) is -0.82%.
Several equities research analysts have issued reports on DVN shares. Morgan Stanley restated an “overweight” rating on shares of Devon Energy Corp. in a report on Wednesday, June 29th. Piper Jaffray Cos. restated a “neutral” rating and issued a $41.00 price target (up from $39.00) on shares of Devon Energy Corp. in a report on Thursday, July 7th. JPMorgan Chase & Co. restated a “buy” rating on shares of Devon Energy Corp. in a report on Thursday, June 30th. Citigroup Inc. restated a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of Devon Energy Corp. in a report on Monday, July 18th. Finally, Barclays PLC increased their price target on Devon Energy Corp. from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Devon Energy Corp. 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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