Schwartz Investment Counsel Inc. Buys 7,000 Shares of Devon Energy Corporation (DVN)
Schwartz Investment Counsel Inc. lifted its stake in Devon Energy Corporation (NYSE:DVN) by 88.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,900 shares of the energy company’s stock after purchasing an additional 7,000 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Devon Energy Corporation were worth $547,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Hoertkorn Richard Charles increased its holdings in shares of Devon Energy Corporation by 16.4% in the third quarter. Hoertkorn Richard Charles now owns 35,015 shares of the energy company’s stock valued at $1,285,000 after purchasing an additional 4,925 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Devon Energy Corporation by 21.6% in the third quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock valued at $204,501,000 after purchasing an additional 988,090 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Devon Energy Corporation in the third quarter valued at approximately $2,031,000. Speece Thorson Capital Group Inc. increased its holdings in shares of Devon Energy Corporation by 28.4% in the third quarter. Speece Thorson Capital Group Inc. now owns 337,371 shares of the energy company’s stock valued at $12,385,000 after purchasing an additional 74,614 shares during the last quarter. Finally, Stack Financial Management Inc increased its holdings in shares of Devon Energy Corporation by 13.9% in the third quarter. Stack Financial Management Inc now owns 279,907 shares of the energy company’s stock valued at $10,275,000 after purchasing an additional 34,255 shares during the last quarter. 77.30% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Robert H. Henry sold 7,045 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $33.35, for a total transaction of $234,950.75. Following the transaction, the director now owns 11,338 shares of the company’s stock, valued at $378,122.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.51% of the company’s stock.
Several equities research analysts have issued reports on the company. Cowen and Company set a $40.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Tuesday. Barclays PLC reissued an “overweight” rating and set a $35.00 target price (up previously from $31.00) on shares of Devon Energy Corporation in a research note on Wednesday, August 9th. Scotiabank set a $49.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, July 31st. BMO Capital Markets set a $45.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Finally, BidaskClub cut Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. Devon Energy Corporation currently has an average rating of “Buy” and an average price target of $45.47.
Shares of Devon Energy Corporation (DVN) traded up 3.79% during mid-day trading on Wednesday, reaching $38.30. The company’s stock had a trading volume of 1,809,205 shares. The firm has a market capitalization of $20.13 billion, a PE ratio of 8.67 and a beta of 2.21. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The firm has a 50-day moving average of $35.44 and a 200-day moving average of $34.18.
Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the company posted $1.89 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts forecast that Devon Energy Corporation will post $1.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.65%. Devon Energy Corporation’s payout ratio is 5.47%.
About Devon Energy Corporation
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
Receive News & Ratings for Devon Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.