Devon Energy Corp (NYSE:DVN) Short Interest Update

Devon Energy Corp (NYSE:DVN) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 18,000,000 shares, a decline of 8.4% from the September 30th total of 19,660,000 shares. Approximately 4.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 7,170,000 shares, the days-to-cover ratio is presently 2.5 days.

In other Devon Energy news, CAO Jeremy D. Humphers sold 1,500 shares of Devon Energy stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $21.66, for a total value of $32,490.00. Following the transaction, the chief accounting officer now owns 42,475 shares in the company, valued at $920,008.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.63% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Zions Bancorporation N.A. boosted its stake in shares of Devon Energy by 6.4% during the 2nd quarter. Zions Bancorporation N.A. now owns 7,342 shares of the energy company’s stock valued at $209,000 after buying an additional 440 shares during the period. Doliver Advisors LP raised its holdings in shares of Devon Energy by 5.2% during the 3rd quarter. Doliver Advisors LP now owns 9,912 shares of the energy company’s stock valued at $208,000 after purchasing an additional 490 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Devon Energy by 43.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock valued at $48,000 after purchasing an additional 516 shares in the last quarter. Hedeker Wealth LLC raised its holdings in shares of Devon Energy by 1.9% during the 3rd quarter. Hedeker Wealth LLC now owns 31,855 shares of the energy company’s stock valued at $766,000 after purchasing an additional 587 shares in the last quarter. Finally, Cetera Advisor Networks LLC raised its holdings in shares of Devon Energy by 7.2% during the 3rd quarter. Cetera Advisor Networks LLC now owns 8,991 shares of the energy company’s stock valued at $217,000 after purchasing an additional 603 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Devon Energy stock traded down $0.60 during midday trading on Monday, reaching $21.96. The stock had a trading volume of 6,384,296 shares, compared to its average volume of 7,154,249. The firm’s fifty day simple moving average is $21.82 and its two-hundred day simple moving average is $25.33. Devon Energy has a twelve month low of $19.72 and a twelve month high of $35.39. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.82 and a beta of 2.35.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Devon Energy had a net margin of 16.00% and a return on equity of 6.37%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business posted $0.63 EPS. As a group, sell-side analysts predict that Devon Energy will post 1.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Thursday, December 12th. Devon Energy’s dividend payout ratio is 27.91%.

DVN has been the topic of several recent research reports. Evercore ISI restated a “hold” rating and issued a $30.00 price target on shares of Devon Energy in a research report on Monday, November 11th. Mitsubishi UFJ Financial Group lifted their price target on shares of Devon Energy to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Goldman Sachs Group restated a “sell” rating and issued a $25.50 price target on shares of Devon Energy in a research report on Tuesday, July 23rd. Seaport Global Securities lowered shares of Devon Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Finally, SunTrust Banks initiated coverage on shares of Devon Energy in a research report on Tuesday, July 30th. They issued a “buy” rating and a $33.00 price target on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. Devon Energy currently has an average rating of “Hold” and an average price target of $35.82.

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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