Fmr LLC Cuts Position in Devon Energy Corp (NYSE:DVN)

FMR LLC trimmed its stake in shares of Devon Energy Corp (NYSE:DVN) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,742,538 shares of the energy company’s stock after selling 74,716 shares during the quarter. FMR LLC owned about 2.83% of Devon Energy worth $370,594,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in DVN. Horizon Investments LLC bought a new stake in Devon Energy in the first quarter valued at approximately $274,000. Cleararc Capital Inc. bought a new position in shares of Devon Energy during the 1st quarter worth approximately $232,000. Cerebellum GP LLC boosted its holdings in shares of Devon Energy by 17.7% during the 1st quarter. Cerebellum GP LLC now owns 10,798 shares of the energy company’s stock worth $341,000 after buying an additional 1,626 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Devon Energy by 15.8% during the 1st quarter. Clearbridge Investments LLC now owns 3,488,973 shares of the energy company’s stock worth $110,112,000 after buying an additional 476,337 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Devon Energy during the 1st quarter worth approximately $13,886,000. 84.06% of the stock is owned by institutional investors.

A number of equities analysts have issued reports on DVN shares. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research lowered Genprex from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Seaport Global Securities reaffirmed a “buy” rating on shares of W&T Offshore in a research report on Friday, June 21st. Barclays set a $325.00 target price on Align Technology and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Co lowered Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research report on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.25.

Shares of DVN stock traded down $0.01 during mid-day trading on Friday, hitting $28.65. The company’s stock had a trading volume of 4,853,535 shares, compared to its average volume of 5,544,847. The firm has a market capitalization of $11.90 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 2.10 and a beta of 2.27. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.37 and a current ratio of 1.37. Devon Energy Corp has a 52-week low of $20.37 and a 52-week high of $45.61. The company has a 50-day moving average of $27.07.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, April 30th. The energy company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. Devon Energy had a return on equity of 7.12% and a net margin of 29.33%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, equities research analysts predict that Devon Energy Corp will post 1.7 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, September 12th. Devon Energy’s dividend payout ratio is presently 27.91%.

In other news, CAO Jeremy D. Humphers sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $25.40, for a total value of $101,600.00. Following the completion of the transaction, the chief accounting officer now owns 81,914 shares of the company’s stock, valued at $2,080,615.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.

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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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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