Devon Energy Corporation $DVN Shares Sold by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC trimmed its stake in shares of Devon Energy Corporation (NYSE:DVN) by 69.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,200 shares of the energy company’s stock after selling 20,800 shares during the period. Manatuck Hill Partners LLC’s holdings in Devon Energy were worth $337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DVN. Woodline Partners LP grew its holdings in Devon Energy by 98.8% during the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after acquiring an additional 57,555 shares during the period. Sivia Capital Partners LLC acquired a new stake in Devon Energy during the second quarter worth about $403,000. Jump Financial LLC grew its holdings in Devon Energy by 58.8% during the second quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock worth $899,000 after acquiring an additional 10,464 shares during the period. Daiwa Securities Group Inc. grew its holdings in Devon Energy by 17.8% during the second quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock worth $4,736,000 after acquiring an additional 22,482 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Devon Energy by 6.0% during the second quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock worth $4,586,000 after acquiring an additional 8,127 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Down 0.8%

Shares of DVN opened at $42.57 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 12 month low of $31.45 and a 12 month high of $52.71. The stock’s 50 day moving average is $46.65 and its two-hundred day moving average is $43.28. The firm has a market cap of $26.45 billion, a P/E ratio of 11.86 and a beta of 0.37.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The business’s revenue was down 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share. Analysts predict that Devon Energy Corporation will post 4.97 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.32 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, June 15th. Devon Energy’s dividend payout ratio is presently 35.65%.

Analysts Set New Price Targets

Several analysts have commented on DVN shares. Tudor Pickering raised Devon Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Zacks Research lowered Devon Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. UBS Group dropped their price objective on Devon Energy from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, June 10th. Argus raised their price objective on Devon Energy from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Finally, Roth Mkm reissued a “buy” rating and issued a $57.00 price objective on shares of Devon Energy in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average target price of $58.44.

Insider Transactions at Devon Energy

In other news, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $46.66, for a total value of $3,267,553.14. Following the sale, the executive vice president directly owned 428,452 shares of the company’s stock, valued at $19,991,570.32. The trade was a 14.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the sale, the senior vice president directly owned 130,540 shares in the company, valued at $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 112,371 shares of company stock valued at $5,258,059 over the last ninety days. Insiders own 4.58% of the company’s stock.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.