Amundi Has $86.92 Million Stock Holdings in Devon Energy Corporation $DVN

Key Points

• Amundi increased its stake in Devon Energy Corporation by 4.6%, acquiring an additional 103,059 shares, bringing its total ownership to 2,323,938 shares valued at approximately $86.9 million.
• Devon Energy recently reported quarterly earnings of $0.84 per share, surpassing analysts' expectations, along with a revenue of $4.28 billion, representing a 9.4% year-over-year growth.
• The company announced a quarterly dividend of $0.24 per share to be paid on September 30th, yielding 2.8% based on its current stock price.

Amundi boosted its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,323,938 shares of the energy company's stock after buying an additional 103,059 shares during the quarter. Amundi owned about 0.36% of Devon Energy worth $86,915,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DVN. Ameriprise Financial Inc. increased its position in Devon Energy by 81.1% during the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company's stock worth $188,131,000 after buying an additional 2,252,918 shares during the last quarter. Vanguard Group Inc. increased its position in Devon Energy by 2.6% during the first quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company's stock worth $3,096,000,000 after buying an additional 2,098,568 shares during the last quarter. Nuveen LLC acquired a new position in Devon Energy during the first quarter worth $69,975,000. Assenagon Asset Management S.A. increased its position in Devon Energy by 530.3% during the first quarter. Assenagon Asset Management S.A. now owns 2,067,465 shares of the energy company's stock worth $77,323,000 after buying an additional 1,739,436 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Devon Energy by 112.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,026,396 shares of the energy company's stock worth $99,054,000 after buying an additional 1,598,579 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares of the company's stock, valued at $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.71% of the stock is owned by company insiders.

Devon Energy Stock Performance

Shares of NYSE DVN traded down $0.48 during mid-day trading on Friday, hitting $34.81. The company had a trading volume of 7,121,834 shares, compared to its average volume of 6,287,351. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. The business's 50-day simple moving average is $33.91 and its 200-day simple moving average is $33.15. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $43.29. The firm has a market cap of $22.10 billion, a P/E ratio of 7.80, a PEG ratio of 2.03 and a beta of 1.09.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the company earned $1.41 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. As a group, analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Devon Energy's dividend payout ratio is 21.52%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company increased their target price on shares of Devon Energy from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. upped their price target on shares of Devon Energy from $40.00 to $42.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Barclays upped their price target on shares of Devon Energy from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Morgan Stanley upped their price target on shares of Devon Energy from $46.00 to $49.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, UBS Group upped their price target on shares of Devon Energy from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Sixteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $44.15.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.