XTX Topco Ltd Sells 11,777 Shares of Devon Energy Corporation (NYSE:DVN)

Key Points

• XTX Topco Ltd has reduced its stake in Devon Energy Corporation by 15.2%, now holding 65,795 shares valued at approximately $2.46 million.
• Devon Energy reported earnings of $1.21 per share, below expectations, but raised quarterly revenue by 23.8% year-over-year to $4.45 billion.
• Institutional investors currently own 69.72% of Devon Energy's shares, indicating robust institutional involvement, with several firms significantly increasing their positions recently.

XTX Topco Ltd decreased its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 15.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,795 shares of the energy company's stock after selling 11,777 shares during the quarter. XTX Topco Ltd's holdings in Devon Energy were worth $2,461,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of DVN. Geode Capital Management LLC increased its stake in shares of Devon Energy by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock valued at $552,830,000 after buying an additional 1,038,305 shares during the period. Victory Capital Management Inc. increased its stake in shares of Devon Energy by 12.9% in the first quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company's stock valued at $430,805,000 after buying an additional 1,315,050 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Devon Energy by 42.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock valued at $340,236,000 after buying an additional 3,114,656 shares during the period. Invesco Ltd. increased its stake in shares of Devon Energy by 32.8% in the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock valued at $309,682,000 after buying an additional 2,335,473 shares during the period. Finally, Northern Trust Corp boosted its holdings in Devon Energy by 2.4% in the fourth quarter. Northern Trust Corp now owns 6,260,735 shares of the energy company's stock valued at $204,914,000 after acquiring an additional 144,789 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Down 1.3%

NYSE DVN traded down $0.45 on Wednesday, reaching $33.77. The company had a trading volume of 6,413,698 shares, compared to its average volume of 6,943,070. The stock has a market capitalization of $21.68 billion, a P/E ratio of 7.69, a P/E/G ratio of 1.94 and a beta of 1.02. The company's fifty day moving average is $32.86 and its 200 day moving average is $33.49. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $47.44. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The firm had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same period last year, the business posted $1.16 EPS. The company's revenue was up 23.8% compared to the same quarter last year. Sell-side analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.84%. The ex-dividend date was Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is currently 21.87%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DVN. Citigroup reduced their target price on Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Bank of America reduced their target price on Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Barclays upped their target price on Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Susquehanna reduced their target price on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, BMO Capital Markets upped their target price on Devon Energy from $48.00 to $51.00 and gave the company an "outperform" rating in a report on Monday, July 14th. 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, the company currently has an average rating of "Moderate Buy" and an average target price of $43.85.

About Devon Energy

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.