Core Capital Management & Research inc. Buys Shares of 133,752 Devon Energy Corporation $DVN

Core Capital Management & Research inc. bought a new stake in shares of Devon Energy Corporation (NYSE:DVN) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 133,752 shares of the energy company’s stock, valued at approximately $5,527,000. Devon Energy comprises about 2.9% of Core Capital Management & Research inc.’s holdings, making the stock its 10th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Devon Energy in the 4th quarter valued at about $25,000. JFS Wealth Advisors LLC boosted its position in Devon Energy by 56.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after acquiring an additional 245 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Devon Energy during the 2nd quarter worth $28,000. MV Capital Management Inc. purchased a new stake in shares of Devon Energy during the 4th quarter worth $29,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Devon Energy during the 2nd quarter worth $29,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 1.3%

Shares of DVN stock opened at $49.01 on Thursday. The stock’s fifty day moving average price is $45.22 and its 200 day moving average price is $45.88. Devon Energy Corporation has a 1-year low of $31.47 and a 1-year high of $52.71. The company has a market cap of $53.92 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.32 and a beta of 0.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The company had revenue of $7.42 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The firm’s revenue was up 73.1% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. On average, research analysts expect that Devon Energy Corporation will post 5.24 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. Devon Energy’s dividend payout ratio (DPR) is 30.40%.

Analysts Set New Price Targets

Several equities analysts have issued reports on DVN shares. Wolfe Research set a $67.00 target price on Devon Energy and gave the company an “outperform” rating in a research note on Monday, June 22nd. JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. The Goldman Sachs Group lowered their price target on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Capital One Financial cut their price objective on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 2nd. Finally, Morgan Stanley reduced their price objective on shares of Devon Energy from $66.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $59.23.

Devon Energy Profile

Devon Energy Corporation is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company also gathers, processes and transports hydrocarbons through related midstream infrastructure and markets its production to customers in the United States.

Devon’s operations are concentrated in U.S. onshore basins, including the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.