UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $212.30 Million Stock Position in Devon Energy Corporation $DVN

Key Points

• UBS AM reduced its holdings in Devon Energy Corporation by 9.8%, owning approximately 5.68 million shares valued at $212.30 million as of the latest SEC filing.
• Devon Energy reported quarterly earnings of $0.84 per share, exceeding analyst expectations of $0.83, with revenue of $4.28 billion up 9.4% year-over-year.
• The company announced a quarterly dividend of $0.24 per share, yielding 2.7%, with an ex-dividend date set for September 15th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,676,508 shares of the energy company's stock after selling 616,052 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.88% of Devon Energy worth $212,301,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Devon Energy by 330.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 279,310 shares of the energy company's stock valued at $9,142,000 after purchasing an additional 214,349 shares in the last quarter. NorthRock Partners LLC acquired a new position in shares of Devon Energy during the fourth quarter worth $365,000. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Devon Energy by 0.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 75,060 shares of the energy company's stock worth $2,342,000 after buying an additional 664 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of Devon Energy during the fourth quarter worth $317,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Devon Energy by 28.2% during the fourth quarter. Quantinno Capital Management LP now owns 57,628 shares of the energy company's stock worth $1,886,000 after buying an additional 12,671 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $35.31 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $43.29. The stock has a market cap of $22.41 billion, a price-to-earnings ratio of 7.92, a P/E/G ratio of 2.04 and a beta of 1.09. The company's fifty day moving average is $33.88 and its 200 day moving average is $33.16.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, topping 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 company had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Devon Energy's revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. Devon Energy's dividend payout ratio is 21.52%.

Analyst Ratings Changes

DVN has been the subject of several research analyst reports. UBS Group upped their price target on shares of Devon Energy from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Barclays upped their price target on shares of Devon Energy from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Tudor, Pickering, Holt & Co. upped their price target on shares of Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Wolfe Research upped their price target on shares of Devon Energy from $47.00 to $49.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Finally, William Blair began coverage on shares of Devon Energy in a report on Monday, August 25th. They set an "outperform" rating for the company. Sixteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Devon Energy has an average rating of "Moderate Buy" and an average price target of $44.15.

Insider Buying and Selling

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.71% of the company's stock.

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.

Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Corporation (NYSE:DVN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.