Sentry Investment Management LLC boosted its position in Devon Energy Corporation (NYSE:DVN) by 174.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,927 shares of the energy company’s stock after purchasing an additional 26,028 shares during the period. Sentry Investment Management LLC’s holdings in Devon Energy Corporation were worth $1,308,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp boosted its position in Devon Energy Corporation by 10.4% in the first quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock worth $110,000 after purchasing an additional 248 shares during the last quarter. Sun Life Financial INC boosted its position in Devon Energy Corporation by 32,058.3% in the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after purchasing an additional 3,847 shares during the last quarter. Fiduciary Trust Co. purchased a new position in Devon Energy Corporation in the second quarter worth about $144,000. Global X Management Co. LLC boosted its position in Devon Energy Corporation by 12.5% in the second quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after purchasing an additional 503 shares during the last quarter. Finally, Exane Derivatives boosted its position in Devon Energy Corporation by 36.0% in the second quarter. Exane Derivatives now owns 5,650 shares of the energy company’s stock worth $181,000 after purchasing an additional 1,497 shares during the last quarter. 77.18% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Devon Energy Corporation (DVN) traded up 2.78% during trading on Friday, hitting $35.88. The stock had a trading volume of 4,530,057 shares. The firm’s 50-day moving average is $35.01 and its 200 day moving average is $34.35. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69. The firm has a market cap of $18.86 billion, a price-to-earnings ratio of 8.12 and a beta of 2.21.
Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 31.6% on a year-over-year basis. On average, analysts expect that Devon Energy Corporation will post $1.68 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.67%. Devon Energy Corporation’s dividend payout ratio is currently 5.47%.
Several research analysts have issued reports on DVN shares. BMO Capital Markets set a $38.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, August 28th. Citigroup Inc. dropped their target price on Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Royal Bank Of Canada set a $43.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a research report on Friday, August 25th. Stifel Nicolaus set a $61.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, BidaskClub cut Devon Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. Devon Energy Corporation currently has an average rating of “Buy” and a consensus price target of $45.47.
In other news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the transaction, the director now directly owns 11,338 shares in the company, valued at $378,122.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.51% of the company’s stock.
Devon Energy Corporation 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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