Anchor Capital Advisors LLC lowered its stake in shares of Devon Energy Corporation (NYSE:DVN) by 6.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 370,686 shares of the energy company’s stock after selling 27,032 shares during the quarter. Anchor Capital Advisors LLC owned approximately 0.07% of Devon Energy Corporation worth $13,608,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in DVN. Renaissance Technologies LLC boosted its position in Devon Energy Corporation by 118.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,376,500 shares of the energy company’s stock valued at $139,917,000 after purchasing an additional 2,370,500 shares during the period. Prudential Financial Inc. boosted its position in Devon Energy Corporation by 66.7% during the 2nd quarter. Prudential Financial Inc. now owns 4,365,017 shares of the energy company’s stock valued at $139,549,000 after purchasing an additional 1,745,977 shares during the period. Vanguard Group Inc. boosted its position in Devon Energy Corporation by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock valued at $1,432,998,000 after purchasing an additional 1,295,417 shares during the period. Victory Capital Management Inc. boosted its position in Devon Energy Corporation by 21.6% during the 3rd quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock valued at $204,501,000 after purchasing an additional 988,090 shares during the period. Finally, Scout Investments Inc. acquired a new position in Devon Energy Corporation during the 3rd quarter valued at approximately $32,652,000. Institutional investors and hedge funds own 77.27% of the company’s stock.
A number of research firms recently issued reports on DVN. Barclays PLC restated an “overweight” rating and set a $35.00 price objective (up previously from $31.00) on shares of Devon Energy Corporation in a research report on Wednesday, August 9th. Stephens upgraded Devon Energy Corporation from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research report on Thursday, November 2nd. Scotiabank set a $49.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a research report on Monday, July 31st. Cowen and Company restated a “buy” rating and set a $40.00 price objective on shares of Devon Energy Corporation in a research report on Thursday, September 28th. Finally, BMO Capital Markets set a $45.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $45.89.
Shares of Devon Energy Corporation (DVN) traded down $0.93 during trading on Tuesday, hitting $38.72. The stock had a trading volume of 1,001,763 shares, compared to its average volume of 4,802,487. The firm has a market capitalization of $21,215.25, a price-to-earnings ratio of 27.68, a PEG ratio of 1.28 and a beta of 2.22. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. Devon Energy Corporation has a 12 month low of $28.79 and a 12 month high of $50.69.
Devon Energy Corporation (NYSE:DVN) last announced its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Devon Energy Corporation had a return on equity of 6.88% and a net margin of 11.62%. Devon Energy Corporation’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 earnings per share. equities analysts anticipate that Devon Energy Corporation will post 1.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s payout ratio is 8.19%.
Devon Energy Corporation 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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