Calamos Advisors LLC trimmed its position in Devon Energy Corp (NYSE:DVN) by 74.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,500 shares of the energy company’s stock after selling 69,666 shares during the period. Calamos Advisors LLC’s holdings in Devon Energy were worth $939,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in DVN. Jackson Grant Investment Advisers Inc. purchased a new position in Devon Energy in the 2nd quarter valued at about $112,000. Financial Architects Inc lifted its holdings in Devon Energy by 168.5% in the 2nd quarter. Financial Architects Inc now owns 2,709 shares of the energy company’s stock valued at $119,000 after purchasing an additional 1,700 shares in the last quarter. Verition Fund Management LLC lifted its holdings in Devon Energy by 24.7% in the 1st quarter. Verition Fund Management LLC now owns 6,300 shares of the energy company’s stock valued at $200,000 after purchasing an additional 1,249 shares in the last quarter. SNS Financial Group LLC purchased a new position in Devon Energy in the 2nd quarter valued at about $201,000. Finally, Legacy Capital Partners Inc. purchased a new position in Devon Energy in the 2nd quarter valued at about $202,000. Institutional investors own 84.04% of the company’s stock.
A number of research firms have issued reports on DVN. Zacks Investment Research upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, October 16th. BMO Capital Markets restated a “buy” rating and issued a $50.00 target price on shares of Devon Energy in a report on Tuesday, August 7th. Seaport Global Securities restated a “buy” rating on shares of Devon Energy in a report on Wednesday, October 17th. Mitsubishi UFJ Financial Group upped their target price on shares of Devon Energy from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, October 17th. Finally, Stephens set a $52.00 target price on shares of Devon Energy and gave the company a “buy” rating in a report on Wednesday, July 25th. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Devon Energy has a consensus rating of “Buy” and a consensus target price of $49.65.
Shares of DVN stock opened at $32.38 on Friday. The stock has a market cap of $16.71 billion, a PE ratio of 51.40, a P/E/G ratio of 1.42 and a beta of 2.26. Devon Energy Corp has a 1-year low of $29.83 and a 1-year high of $46.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.65 and a current ratio of 1.65.
Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, July 31st. The energy company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Devon Energy had a positive return on equity of 5.52% and a negative net margin of 1.60%. During the same quarter in the previous year, the company earned $0.80 earnings per share. Analysts forecast that Devon Energy Corp will post 1.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 50.79%.
Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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