Deutsche Bank AG Has $125.64 Million Stock Holdings in Devon Energy Corporation (NYSE:DVN)

Key Points

• Deutsche Bank AG reduced its stake in Devon Energy Corporation by 3.8%, selling 133,435 shares during the first quarter and holding approximately 0.52% of the company's stock valued at $125.6 million.
• Devon Energy recently reported a quarterly earnings per share (EPS) of $0.84, exceeding analysts' expectations, with a year-on-year revenue increase of 9.4% to $4.28 billion.
• The company announced a quarterly dividend of $0.24 per share, representing an annual yield of 2.9%, with the ex-dividend date set for September 15th.

Deutsche Bank AG decreased its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 3.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,359,467 shares of the energy company's stock after selling 133,435 shares during the period. Deutsche Bank AG owned about 0.52% of Devon Energy worth $125,644,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in DVN. Bessemer Group Inc. raised its position in shares of Devon Energy by 1.7% in the 4th quarter. Bessemer Group Inc. now owns 120,919 shares of the energy company's stock worth $3,957,000 after purchasing an additional 2,011 shares during the last quarter. Covestor Ltd grew its stake in shares of Devon Energy by 15.9% during the 4th quarter. Covestor Ltd now owns 2,521 shares of the energy company's stock valued at $83,000 after purchasing an additional 345 shares during the period. Quinn Opportunity Partners LLC grew its stake in shares of Devon Energy by 150.0% during the 4th quarter. Quinn Opportunity Partners LLC now owns 50,000 shares of the energy company's stock valued at $1,636,000 after acquiring an additional 30,000 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Devon Energy by 45.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 437,397 shares of the energy company's stock valued at $14,323,000 after acquiring an additional 137,599 shares during the period. Finally, Crux Wealth Advisors bought a new position in shares of Devon Energy during the 4th quarter valued at approximately $584,000. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Up 1.3%

Shares of NYSE:DVN traded up $0.44 on Tuesday, hitting $33.31. 5,760,951 shares of the company's stock were exchanged, compared to its average volume of 8,086,373. The firm's 50-day moving average is $33.13 and its 200 day moving average is $33.17. 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 company has a market capitalization of $21.15 billion, a PE ratio of 7.47, a P/E/G ratio of 1.87 and a beta of 1.07. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $46.04.

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

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.24 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.9%. Devon Energy's dividend payout ratio is currently 21.52%.

Insider Transactions at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.73% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on DVN shares. Royal Bank Of Canada decreased their price objective on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a report on Monday, April 14th. Raymond James Financial reissued an "outperform" rating and set a $45.00 price target (up previously from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. BMO Capital Markets upped their price objective on shares of Devon Energy from $48.00 to $51.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Wells Fargo & Company set a $43.00 price objective on shares of Devon Energy and gave the company an "overweight" rating in a report on Tuesday. Finally, Tudor, Pickering, Holt & Co. raised their price objective on Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Devon Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.96.

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.