Moore Capital Management LP acquired a new stake 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 SEC. The institutional investor acquired 1,674,311 shares of the energy company's stock, valued at approximately $69,183,000. Devon Energy comprises 1.0% of Moore Capital Management LP's investment portfolio, making the stock its 8th largest holding. Moore Capital Management LP owned approximately 0.15% of Devon Energy at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Tobam raised its stake in Devon Energy by 16.4% in the fourth quarter. Tobam now owns 1,633 shares of the energy company's stock valued at $60,000 after buying an additional 230 shares during the last quarter. Sigma Planning Corp boosted its holdings in Devon Energy by 3.5% in the second quarter. Sigma Planning Corp now owns 6,902 shares of the energy company's stock worth $285,000 after acquiring an additional 233 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Devon Energy by 3.4% during the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company's stock worth $262,000 after acquiring an additional 236 shares during the last quarter. Retirement Planning Group LLC grew its stake in shares of Devon Energy by 4.5% during the second quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company's stock worth $233,000 after acquiring an additional 243 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company's stock valued at $28,000 after acquiring an additional 245 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.
Devon Energy Stock Performance
Shares of NYSE DVN opened at $47.42 on Monday. The company has a 50 day simple moving average of $44.19 and a two-hundred day simple moving average of $45.64. The stock has a market cap of $52.16 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.30 and a beta of 0.38. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71.
Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The business's quarterly revenue was up 73.1% compared to the same quarter last year. As a group, analysts predict that Devon Energy Corporation will post 5.2 earnings per share for the current year.
Devon Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy's dividend payout ratio (DPR) is currently 30.40%.
Insiders Place Their Bets
In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the transaction, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.58% of the company's stock.
Analyst Ratings Changes
Several analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Devon Energy from $61.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. The Goldman Sachs Group lowered their price objective on shares of Devon Energy from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Citigroup boosted their price objective on shares of Devon Energy from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. Zacks Research downgraded Devon Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen upgraded Devon Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.15.
Read Our Latest Report on Devon Energy
About Devon Energy
(
Free Report)
Devon Energy Corporation NYSE: DVN is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.
Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.
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