Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in shares of Devon Energy Corp (NYSE:DVN) by 53.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 154,249 shares of the energy company’s stock after buying an additional 54,007 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Devon Energy were worth $3,938,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Usca Ria LLC purchased a new stake in Devon Energy during the third quarter worth about $29,000. North Star Investment Management Corp. purchased a new stake in Devon Energy during the third quarter worth about $43,000. CSat Investment Advisory L.P. boosted its holdings in Devon Energy by 88.1% during the second quarter. CSat Investment Advisory L.P. now owns 1,738 shares of the energy company’s stock worth $49,000 after buying an additional 814 shares in the last quarter. HM Payson & Co. purchased a new stake in Devon Energy during the second quarter worth about $57,000. Finally, Parallel Advisors LLC boosted its holdings in Devon Energy by 43.7% during the third quarter. Parallel Advisors LLC now owns 2,403 shares of the energy company’s stock worth $58,000 after buying an additional 731 shares in the last quarter. 87.80% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CAO Jeremy D. Humphers sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $22.01, for a total value of $33,015.00. Following the completion of the transaction, the chief accounting officer now owns 43,975 shares of the company’s stock, valued at $967,889.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.63% of the company’s stock.
Shares of NYSE:DVN traded down $0.59 during trading on Friday, reaching $25.85. The stock had a trading volume of 5,721,512 shares, compared to its average volume of 6,082,977. The business has a fifty day moving average price of $24.65 and a 200-day moving average price of $24.00. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.66. The stock has a market cap of $10.07 billion, a P/E ratio of 20.04, a PEG ratio of 1.16 and a beta of 2.42. Devon Energy Corp has a fifty-two week low of $19.72 and a fifty-two week high of $35.39.
Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.57 billion. Devon Energy had a net margin of 16.00% and a return on equity of 6.37%. During the same quarter in the previous year, the business posted $0.63 earnings per share. As a group, equities analysts forecast that Devon Energy Corp will post 1.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, March 12th. Devon Energy’s dividend payout ratio is presently 27.91%.
A number of analysts recently commented on DVN shares. Barclays raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a report on Thursday, January 9th. Wells Fargo & Co decreased their price objective on shares of Devon Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, January 9th. Citigroup began coverage on shares of Devon Energy in a report on Tuesday. They set a “buy” rating on the stock. Evercore ISI began coverage on shares of Devon Energy in a research report on Wednesday, December 18th. They set a “hold” rating and a $30.00 target price for the company. Finally, Morgan Stanley cut their target price on shares of Devon Energy from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.03.
Devon Energy 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 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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