Reliance Trust Co. of Delaware acquired a new stake in shares of Devon Energy Corp (NYSE:DVN) during the first quarter, according to its most recent filing with the SEC. The fund acquired 10,707 shares of the energy company’s stock, valued at approximately $338,000.
Several other large investors also recently added to or reduced their stakes in DVN. Winslow Evans & Crocker Inc. bought a new position in Devon Energy in the 4th quarter worth about $26,000. Lindbrook Capital LLC bought a new position in Devon Energy in the 4th quarter worth about $26,000. Meeder Asset Management Inc. increased its stake in Devon Energy by 94.6% in the 1st quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock worth $26,000 after acquiring an additional 400 shares during the last quarter. Duncker Streett & Co. Inc. increased its stake in Devon Energy by 40.5% in the 4th quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock worth $36,000 after acquiring an additional 461 shares during the last quarter. Finally, Lavaca Capital LLC increased its stake in Devon Energy by 566.0% in the 1st quarter. Lavaca Capital LLC now owns 1,332 shares of the energy company’s stock worth $42,000 after acquiring an additional 1,132 shares during the last quarter. Institutional investors own 92.25% of the company’s stock.
A number of brokerages have weighed in on DVN. Zacks Investment Research upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Thursday, April 18th. Royal Bank of Canada set a $42.00 price objective on Devon Energy and gave the company a “hold” rating in a research report on Thursday, May 2nd. ValuEngine upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Barclays reiterated a “hold” rating and set a $36.00 price objective on shares of Devon Energy in a research report on Thursday, April 11th. Finally, Wells Fargo & Co assumed coverage on Devon Energy in a research report on Monday. They set an “outperform” rating and a $40.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $45.05.
In related news, Director Robert H. Henry bought 11,651 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was bought at an average cost of $30.01 per share, for a total transaction of $349,646.51. Following the acquisition, the director now directly owns 21,355 shares of the company’s stock, valued at approximately $640,863.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.
DVN stock traded down $1.81 during trading on Wednesday, hitting $29.31. 4,508,398 shares of the company traded hands, compared to its average volume of 7,501,633. The stock has a market capitalization of $12.92 billion, a PE ratio of 22.72, a P/E/G ratio of 0.84 and a beta of 2.23. Devon Energy Corp has a 1 year low of $20.37 and a 1 year high of $46.54. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.37 and a quick ratio of 1.37.
Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, April 30th. The energy company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.06. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Devon Energy had a return on equity of 7.12% and a net margin of 29.33%. During the same period in the prior year, the business posted $0.20 EPS. Analysts anticipate that Devon Energy Corp will post 2.19 EPS for the current year.
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About Devon Energy
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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