Brave Asset Management Inc. lowered its stake in shares of Devon Energy Corporation (NYSE:DVN) by 77.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,700 shares of the energy company’s stock after selling 44,390 shares during the quarter. Brave Asset Management Inc.’s holdings in Devon Energy were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in DVN. Sun Life Financial INC grew its position in shares of Devon Energy by 32,058.3% during the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after buying an additional 3,847 shares in the last quarter. FNY Managed Accounts LLC bought a new position in Devon Energy during the third quarter worth $134,000. Fiduciary Trust Co. bought a new position in Devon Energy during the second quarter worth $144,000. Global X Management Co. LLC lifted its stake in Devon Energy by 12.5% during 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, FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in Devon Energy by 67.6% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock worth $182,000 after purchasing an additional 2,300 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.
Devon Energy Corporation (NYSE DVN) traded down $0.15 during mid-day trading on Tuesday, reaching $38.49. The company’s stock had a trading volume of 447,752 shares, compared to its average volume of 4,779,369. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $20,391.00, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.22 and a beta of 2.21. Devon Energy Corporation has a 12 month low of $28.79 and a 12 month high of $50.69.
Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $1.89 earnings per share. analysts predict that Devon Energy Corporation will post 1.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s payout ratio is 8.19%.
Several equities analysts recently issued reports on DVN shares. Barclays restated an “overweight” rating and set a $35.00 price objective (up from $31.00) on shares of Devon Energy in a research note on Wednesday, August 9th. Scotiabank set a $47.00 price objective on Devon Energy and gave the stock a “buy” rating in a research note on Friday, August 11th. BidaskClub cut Devon Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Cowen restated a “buy” rating and set a $37.00 price objective on shares of Devon Energy in a research note on Tuesday, August 22nd. Finally, Royal Bank Of Canada set a $43.00 price objective on Devon Energy and gave the stock a “buy” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. Devon Energy currently has an average rating of “Buy” and an average price target of $46.56.
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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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