Conning Inc. cut its position in shares of Devon Energy Corp. (NYSE:DVN) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 10,418 shares of the energy company’s stock after selling 130 shares during the period. Conning Inc.’s holdings in Devon Energy Corp. were worth $378,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. BlackRock Fund Advisors raised its position in shares of Devon Energy Corp. by 22.6% in the first quarter. BlackRock Fund Advisors now owns 6,814,718 shares of the energy company’s stock worth $186,996,000 after buying an additional 1,256,387 shares in the last quarter. BlackRock Group LTD raised its position in shares of Devon Energy Corp. by 16.6% in the first quarter. BlackRock Group LTD now owns 5,994,498 shares of the energy company’s stock worth $164,488,000 after buying an additional 852,066 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Devon Energy Corp. by 34.1% in the first quarter. Franklin Resources Inc. now owns 4,828,371 shares of the energy company’s stock worth $132,492,000 after buying an additional 1,227,046 shares in the last quarter. FDO Partners LLC purchased a new position in shares of Devon Energy Corp. during the first quarter worth $318,000. Finally, Rehmann Capital Advisory Group purchased a new position in shares of Devon Energy Corp. during the first quarter worth $201,000. Institutional investors own 75.62% of the company’s stock.
Devon Energy Corp. (NYSE:DVN) traded up 0.20% on Monday, reaching $44.20. The company had a trading volume of 4,248,537 shares. The firm’s market capitalization is $23.14 billion. Devon Energy Corp. has a 52-week low of $18.07 and a 52-week high of $48.68. The stock’s 50-day moving average price is $42.85 and its 200 day moving average price is $36.62.
Devon Energy Corp. (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.25. The business earned $2.49 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 26.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. On average, equities analysts anticipate that Devon Energy Corp. will post ($0.29) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders 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 dividend yield of 0.54%. Devon Energy Corp.’s payout ratio is -0.82%.
DVN has been the topic of a number of research reports. Howard Weil raised Devon Energy Corp. from a “sector outperform” rating to a “focus stock” rating and increased their price objective for the company from $50.00 to $61.00 in a report on Monday, July 11th. Zacks Investment Research raised Devon Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, August 16th. Vetr lowered Devon Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $45.44 price objective on the stock. in a report on Tuesday, September 13th. Morgan Stanley reissued an “overweight” rating on shares of Devon Energy Corp. in a report on Wednesday, June 29th. Finally, Deutsche Bank AG increased their price objective on Devon Energy Corp. from $41.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target 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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