Bbva Compass Bancshares Inc. acquired a new stake in shares of Devon Energy Corp (NYSE:DVN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 22,886 shares of the energy company’s stock, valued at approximately $948,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in Devon Energy by 12.0% during the 4th quarter. Victory Capital Management Inc. now owns 6,238,204 shares of the energy company’s stock valued at $258,262,000 after purchasing an additional 667,482 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Devon Energy by 16.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,202,360 shares of the energy company’s stock valued at $256,778,000 after purchasing an additional 862,460 shares during the period. Bank of New York Mellon Corp boosted its position in Devon Energy by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 5,779,373 shares of the energy company’s stock valued at $239,266,000 after purchasing an additional 102,768 shares during the period. First Eagle Investment Management LLC boosted its position in Devon Energy by 1.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 4,887,600 shares of the energy company’s stock valued at $179,424,000 after purchasing an additional 88,950 shares during the period. Finally, American Century Companies Inc. boosted its position in Devon Energy by 2.1% during the 3rd quarter. American Century Companies Inc. now owns 4,575,909 shares of the energy company’s stock valued at $167,982,000 after purchasing an additional 95,013 shares during the period. Institutional investors and hedge funds own 76.94% of the company’s stock.
In other news, EVP Lyndon C. Taylor sold 12,798 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.29, for a total value of $490,035.42. Following the sale, the executive vice president now owns 67,900 shares of the company’s stock, valued at approximately $2,599,891. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is currently owned by insiders.
Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 20th. The energy company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.22). Devon Energy had a return on equity of 6.92% and a net margin of 10.04%. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 41.8% on a year-over-year basis. research analysts forecast that Devon Energy Corp will post 2.91 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on DVN shares. Jefferies Group restated a “buy” rating and set a $52.00 price objective on shares of Devon Energy in a research report on Tuesday, January 30th. Seaport Global Securities upgraded Devon Energy from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Credit Suisse Group set a $50.00 price objective on Devon Energy and gave the company a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Wolfe Research upgraded Devon Energy from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 30th. Finally, Morgan Stanley boosted their price objective on Devon Energy from $48.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $47.61.
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Devon Energy Company Profile
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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