Cooke & Bieler LP reduced its position in Devon Energy Corp. (NYSE:DVN) by 68.0% during the second quarter, Holdings Channel reports. The firm owned 549,324 shares of the energy company’s stock after selling 1,166,751 shares during the period. Cooke & Bieler LP’s holdings in Devon Energy Corp. were worth $19,913,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its position in Devon Energy Corp. by 22.6% in the first quarter. BlackRock Fund Advisors now owns 6,814,718 shares of the energy company’s stock valued at $186,996,000 after buying an additional 1,256,387 shares in the last quarter. Aviva PLC boosted its position in Devon Energy Corp. by 12.7% in the first quarter. Aviva PLC now owns 290,810 shares of the energy company’s stock valued at $7,980,000 after buying an additional 32,791 shares in the last quarter. Credit Agricole S A boosted its position in Devon Energy Corp. by 64.0% in the first quarter. Credit Agricole S A now owns 336,369 shares of the energy company’s stock valued at $9,230,000 after buying an additional 131,259 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Devon Energy Corp. by 42.6% in the first quarter. Canada Pension Plan Investment Board now owns 282,370 shares of the energy company’s stock valued at $7,748,000 after buying an additional 84,353 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in Devon Energy Corp. by 1,700.0% in the first quarter. 1832 Asset Management L.P. now owns 362,012 shares of the energy company’s stock valued at $15,948,000 after buying an additional 341,900 shares in the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.
Devon Energy Corp. (NYSE:DVN) traded down 0.45% during mid-day trading on Tuesday, hitting $41.58. 3,829,541 shares of the stock traded hands. Devon Energy Corp. has a one year low of $18.07 and a one year high of $48.68. The company has a 50 day moving average price of $42.74 and a 200-day moving average price of $37.75. The stock’s market capitalization is $21.77 billion.
Devon Energy Corp. (NYSE:DVN) last announced its earnings results on Tuesday, August 2nd. The energy company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.19) by $0.25. The business earned $2.49 billion during the quarter, compared to the consensus estimate of $2.29 million. Devon Energy Corp. had a negative net margin of 114.09% and a positive return on equity of 3.62%. Devon Energy Corp.’s revenue was down 26.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. Equities analysts anticipate that Devon Energy Corp. will post ($0.29) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Tuesday, December 13th. Devon Energy Corp.’s dividend payout ratio is currently -0.82%.
DVN has been the topic of several research reports. Credit Agricole SA initiated coverage on Devon Energy Corp. in a report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Devon Energy Corp. in a report on Wednesday, June 29th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Devon Energy Corp. in a report on Thursday, June 30th. Deutsche Bank AG upped their price target on Devon Energy Corp. from $41.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 5th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $41.00 price target (up previously from $39.00) on shares of Devon Energy Corp. in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $42.21.
About Devon Energy Corp.
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.
Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Corp. (NYSE:DVN).
Receive News & Ratings for Devon Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy Corp. and related companies with MarketBeat.com's FREE daily email newsletter.