Berman Capital Advisors LLC increased its holdings in shares of Devon Energy Corp (NYSE:DVN) by 99.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,040 shares of the energy company’s stock after purchasing an additional 4,515 shares during the period. Berman Capital Advisors LLC’s holdings in Devon Energy were worth $284,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Winslow Evans & Crocker Inc. acquired a new stake in Devon Energy in the 4th quarter valued at about $26,000. Lindbrook Capital LLC acquired a new stake in shares of Devon Energy during the 4th quarter worth about $26,000. Meeder Asset Management Inc. boosted its stake in shares of Devon Energy by 94.6% during the 1st quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Duncker Streett & Co. Inc. boosted its stake in shares of Devon Energy by 40.5% during the 4th quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock worth $36,000 after purchasing an additional 461 shares during the last quarter. Finally, Lavaca Capital LLC boosted its stake in shares of Devon Energy by 566.0% during the 1st quarter. Lavaca Capital LLC now owns 1,332 shares of the energy company’s stock worth $42,000 after purchasing an additional 1,132 shares during the last quarter. Hedge funds and other institutional investors own 84.40% of the company’s stock.
Shares of NYSE DVN traded down $0.35 during midday trading on Friday, reaching $25.77. 4,945,257 shares of the company traded hands, compared to its average volume of 7,339,916. Devon Energy Corp has a 52 week low of $20.37 and a 52 week high of $46.54. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.74. The stock has a market cap of $10.85 billion, a P/E ratio of 19.98, a P/E/G ratio of 0.80 and a beta of 2.28.
Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, April 30th. The energy company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. Devon Energy had a net margin of 29.33% and a return on equity of 7.12%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the business earned $0.20 earnings per share. On average, sell-side analysts anticipate that Devon Energy Corp will post 1.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.40%. The ex-dividend date is Thursday, September 12th. Devon Energy’s dividend payout ratio (DPR) is presently 24.81%.
In other Devon Energy news, CAO Jeremy D. Humphers sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $25.40, for a total value of $101,600.00. Following the sale, the chief accounting officer now directly owns 81,914 shares in the company, valued at $2,080,615.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is currently owned by insiders.
DVN has been the topic of several research analyst reports. Piper Jaffray Companies set a $39.00 target price on shares of Devon Energy and gave the stock a “buy” rating in a research report on Friday, May 31st. Zacks Investment Research upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Thursday, April 18th. Credit Suisse Group set a $36.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, February 20th. ValuEngine lowered shares of Devon Energy from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Finally, Royal Bank of Canada downgraded shares of Devon Energy from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $39.00 to $38.00 in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $44.35.
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 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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