Concert Wealth Management Inc. raised its position in shares of Devon Energy Corp. (NYSE:DVN) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,490 shares of the energy company’s stock after buying an additional 159 shares during the period. Concert Wealth Management Inc.’s holdings in Devon Energy Corp. were worth $381,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of DVN. Hall Laurie J Trustee increased its position in shares of Devon Energy Corp. by 13.7% in the second quarter. Hall Laurie J Trustee now owns 3,745 shares of the energy company’s stock worth $141,000 after buying an additional 450 shares in the last quarter. RS Investment Management Co. LLC acquired a new position in shares of Devon Energy Corp. during the second quarter worth $144,000. Botty Investors LLC increased its position in shares of Devon Energy Corp. by 181.8% in the second quarter. Botty Investors LLC now owns 4,650 shares of the energy company’s stock worth $169,000 after buying an additional 3,000 shares in the last quarter. Franklin Street Advisors Inc. NC acquired a new position in shares of Devon Energy Corp. during the second quarter worth $201,000. Finally, Papp L Roy & Associates acquired a new position in shares of Devon Energy Corp. during the second quarter worth $207,000. Institutional investors own 75.62% of the company’s stock.
Shares of Devon Energy Corp. (NYSE:DVN) traded down 0.92% during trading on Thursday, reaching $44.15. The company’s stock had a trading volume of 2,772,000 shares. The company’s 50 day moving average price is $42.87 and its 200 day moving average price is $37.32. The firm’s market cap is $23.12 billion. Devon Energy Corp. has a 12 month low of $18.07 and a 12 month high of $48.68.
Devon Energy Corp. (NYSE:DVN) last released its earnings results on Tuesday, August 2nd. The energy company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.25. The firm earned $2.49 billion during the quarter, compared to the consensus estimate of $2.29 million. Devon Energy Corp. had a positive return on equity of 3.62% and a negative net margin of 114.09%. The company’s revenue was down 26.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. On average, equities analysts predict that Devon Energy Corp. will post ($0.29) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.54%. Devon Energy Corp.’s payout ratio is -0.82%.
A number of equities analysts have recently weighed in on DVN shares. KLR Group downgraded Devon Energy Corp. from a “buy” rating to an “accumulate” rating and upped their target price for the company from $41.00 to $44.00 in a report on Monday, July 18th. Deutsche Bank AG reiterated a “buy” rating on shares of Devon Energy Corp. in a report on Sunday, July 17th. Bank of America Corp. restated a “buy” rating on shares of Devon Energy Corp. in a report on Thursday, June 16th. Wunderlich increased their price objective on Devon Energy Corp. from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, June 16th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Devon Energy Corp. in a report on Thursday, June 30th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $42.21.
Devon Energy Corp. Company Profile
Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.
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