Whittier Trust Co. cut its position in shares of Devon Energy Corp. (NYSE:DVN) by 21.7% during the second quarter, Holdings Channel reports. The institutional investor owned 6,758 shares of the energy company’s stock after selling 1,870 shares during the period. Whittier Trust Co.’s holdings in Devon Energy Corp. were worth $245,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Hall Laurie J Trustee increased its stake 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 worth $141,000 after buying an additional 450 shares in the last quarter. RS Investment Management Co. LLC acquired a new stake in shares of Devon Energy Corp. during the second quarter valued at about $144,000. Botty Investors LLC increased its stake in shares of 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 period. Franklin Street Advisors Inc. NC acquired a new stake in shares of Devon Energy Corp. during the second quarter valued at about $201,000. Finally, Papp L Roy & Associates acquired a new stake in shares of Devon Energy Corp. during the second quarter valued at about $207,000. Institutional investors and hedge funds own 75.62% of the company’s stock.
Shares of Devon Energy Corp. (NYSE:DVN) traded down 1.87% during trading on Friday, hitting $43.08. The stock had a trading volume of 3,257,574 shares. Devon Energy Corp. has a 1-year low of $18.07 and a 1-year high of $48.68. The firm’s 50 day moving average is $42.81 and its 200 day moving average is $37.49. The company’s market cap is $22.56 billion.
Devon Energy Corp. (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.06 EPS 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 had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.29 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. Devon Energy Corp.’s revenue for the quarter was down 26.7% on a year-over-year basis. Equities research analysts anticipate 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. Investors of record on Thursday, December 15th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.24 annualized dividend and a yield of 0.56%. Devon Energy Corp.’s payout ratio is -0.82%.
Several brokerages have issued reports on DVN. Bank of America Corp. set a $64.00 price target on Devon Energy Corp. and gave the stock a “buy” rating in a report on Monday, October 10th. Citigroup Inc. downgraded Devon Energy Corp. from a “positive” rating to a “market perform” rating in a report on Tuesday, September 6th. They noted that the move was a valuation call. Raymond James Financial Inc. downgraded Devon Energy Corp. from an “outperform” rating to a “market perform” rating and set a $45.84 price target for the company. in a report on Tuesday, September 6th. Zacks Investment Research downgraded Devon Energy Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 6th. Finally, Argus increased their price target on Devon Energy Corp. from $51.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. One equities research 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 presently has a consensus rating of “Buy” and an average target price of $42.21.
About Devon Energy Corp.
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.
Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Corp. (NYSE:DVN).
Receive News & Ratings for Devon Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy Corp. and related companies with MarketBeat.com's FREE daily email newsletter.