Sentinel Trust Co. LBA boosted its stake in shares of Devon Energy (NYSE:DVN) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,440 shares of the energy company’s stock after purchasing an additional 2,400 shares during the period. Sentinel Trust Co. LBA’s holdings in Devon Energy were worth $3,993,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of DVN. EnCap Energy Capital Fund IX L.P. purchased a new position in shares of Devon Energy in the 4th quarter valued at $488,237,000. Alyeska Investment Group L.P. grew its holdings in Devon Energy by 4,117.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,835,864 shares of the energy company’s stock valued at $67,395,000 after purchasing an additional 1,792,334 shares in the last quarter. Discovery Capital Management LLC CT grew its holdings in Devon Energy by 2,921.0% during the 4th quarter. Discovery Capital Management LLC CT now owns 1,223,485 shares of the energy company’s stock valued at $50,652,000 after purchasing an additional 1,182,985 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Devon Energy during the 4th quarter valued at $47,888,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Devon Energy by 16.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,202,360 shares of the energy company’s stock valued at $256,778,000 after purchasing an additional 862,460 shares in the last quarter. 82.20% of the stock is currently owned by institutional investors.
DVN has been the subject of a number of recent analyst reports. Jefferies Group reaffirmed a “buy” rating and set a $52.00 price target on shares of Devon Energy in a report on Tuesday, January 30th. Stifel Nicolaus set a $68.00 price target on shares of Devon Energy and gave the company a “buy” rating in a report on Tuesday, January 30th. Barclays reissued a “buy” rating and set a $39.00 price objective on shares of Devon Energy in a report on Sunday, December 24th. Royal Bank of Canada set a $47.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a report on Wednesday, December 20th. Finally, Seaport Global Securities raised shares of Devon Energy from a “neutral” rating to a “buy” rating in a report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. Devon Energy has a consensus rating of “Buy” and a consensus price target of $45.60.
Shares of NYSE:DVN opened at $31.45 on Friday. The stock has a market capitalization of $16,987.77, a P/E ratio of 20.31, a PEG ratio of 3.03 and a beta of 2.18. Devon Energy has a fifty-two week low of $28.79 and a fifty-two week high of $45.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 1.45.
Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 20th. The energy company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.22). The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.58 billion. Devon Energy had a net margin of 10.04% and a return on equity of 6.92%. The company’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. research analysts expect that Devon Energy will post 1.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.02%. Devon Energy’s dividend payout ratio (DPR) is currently 38.10%.
Devon Energy announced that its Board of Directors has authorized a stock buyback plan on Wednesday, March 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the energy company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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