Pacific Heights Asset Management LLC held its stake in Devon Energy Corporation (NYSE:DVN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the energy company’s stock at the end of the second quarter. Pacific Heights Asset Management LLC’s holdings in Devon Energy Corporation were worth $6,394,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Devon Energy Corporation by 3,279.8% in the first quarter. BlackRock Inc. now owns 46,398,296 shares of the energy company’s stock valued at $1,935,735,000 after buying an additional 45,025,477 shares during the period. Vanguard Group Inc. raised its stake in Devon Energy Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 43,527,746 shares of the energy company’s stock worth $1,815,977,000 after buying an additional 1,385,334 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Devon Energy Corporation by 3.3% in the first quarter. Artisan Partners Limited Partnership now owns 8,077,398 shares of the energy company’s stock worth $336,989,000 after buying an additional 255,610 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Devon Energy Corporation by 36.6% in the first quarter. Bank of New York Mellon Corp now owns 6,311,065 shares of the energy company’s stock worth $263,297,000 after buying an additional 1,690,260 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Devon Energy Corporation by 16.7% in the first quarter. Geode Capital Management LLC now owns 5,496,960 shares of the energy company’s stock worth $229,034,000 after buying an additional 786,562 shares during the last quarter. 77.27% of the stock is currently owned by institutional investors.
Devon Energy Corporation (NYSE DVN) opened at 31.61 on Friday. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69. The stock has a 50 day moving average price of $31.79 and a 200-day moving average price of $37.85. The stock has a market capitalization of $16.61 billion, a P/E ratio of 7.15 and a beta of 2.17.
Devon Energy Corporation (NYSE:DVN) last issued its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. Equities research analysts expect that Devon Energy Corporation will post $1.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.06 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.76%. Devon Energy Corporation’s dividend payout ratio (DPR) is currently 5.47%.
DVN has been the topic of a number of analyst reports. Barclays PLC reaffirmed an “overweight” rating and set a $47.00 price objective (down previously from $54.00) on shares of Devon Energy Corporation in a research note on Saturday, April 22nd. Royal Bank Of Canada set a $53.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a research note on Tuesday, April 25th. BMO Capital Markets reaffirmed a “buy” rating and set a $45.00 price objective on shares of Devon Energy Corporation in a research note on Wednesday, May 3rd. Credit Suisse Group increased their price objective on Devon Energy Corporation from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Finally, TheStreet raised Devon Energy Corporation from a “d+” rating to a “c” rating in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Devon Energy Corporation presently has an average rating of “Buy” and a consensus target price of $47.62.
In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total value of $234,950.75. Following the transaction, the director now owns 11,338 shares in the company, valued at $378,122.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.
About Devon Energy Corporation
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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