Commerzbank Aktiengesellschaft FI Invests $520,000 in Devon Energy Corporation $DVN

Key Points

• Commerzbank Aktiengesellschaft FI has invested approximately $520,000 in Devon Energy Corporation by acquiring 16,325 shares in the 2nd quarter.
• Devon Energy recently declared a quarterly dividend of $0.24 per share, yielding approximately 3.0%, with a dividend payout ratio of 21.52%.
• Analysts have a consensus rating of "Moderate Buy" for Devon Energy, with an average target price of $43.81 following several upgrades from research firms.

Commerzbank Aktiengesellschaft FI bought a new position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,325 shares of the energy company's stock, valued at approximately $520,000.

Several other institutional investors have also recently made changes to their positions in DVN. Ameriprise Financial Inc. grew its position in shares of 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 purchasing an additional 2,252,918 shares in the last quarter. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 2,098,568 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Devon Energy during the first quarter worth about $69,975,000. AQR Capital Management LLC grew its position in shares of Devon Energy by 100.0% during the first quarter. AQR Capital Management LLC now owns 3,558,362 shares of the energy company's stock worth $132,051,000 after purchasing an additional 1,779,382 shares in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in shares of Devon Energy during the first quarter worth about $63,561,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Insider Activity

In related news, Director Kelt Kindick sold 7,685 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the sale, the director directly owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.71% of the company's stock.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $32.54 on Friday. The stock has a market cap of $20.65 billion, a price-to-earnings ratio of 7.29, a price-to-earnings-growth ratio of 2.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The stock has a 50 day moving average price of $34.53 and a 200-day moving average price of $33.10. Devon Energy Corporation has a one year low of $25.89 and a one year high of $43.29.

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

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy's dividend payout ratio (DPR) is currently 21.52%.

Analyst Upgrades and Downgrades

DVN has been the subject of several research analyst reports. Jefferies Financial Group increased their target price on Devon Energy from $31.00 to $33.00 and gave the stock a "hold" rating in a research report on Monday, July 14th. Royal Bank Of Canada set a $42.00 price target on Devon Energy and gave the company a "sector perform" rating in a report on Friday. Wolfe Research raised their price target on Devon Energy from $47.00 to $49.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Scotiabank restated an "outperform" rating on shares of Devon Energy in a report on Thursday. Finally, Tudor, Pickering, Holt & Co. raised their price target on Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $43.81.

Devon Energy Company 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.

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