Commerzbank Aktiengesellschaft FI Sells 2,163 Shares of Devon Energy Corporation (DVN)
Commerzbank Aktiengesellschaft FI trimmed its position in Devon Energy Corporation (NYSE:DVN) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,856 shares of the energy company’s stock after selling 2,163 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Devon Energy were worth $2,638,000 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. FNY Managed Accounts LLC acquired a new position in shares of Devon Energy during the 3rd quarter valued at about $134,000. Sun Life Financial INC increased its position in Devon Energy by 32,058.3% during the 2nd quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after purchasing an additional 3,847 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in Devon Energy during the 2nd quarter worth approximately $144,000. Global X Management Co. LLC increased its position in Devon Energy by 12.5% during the 2nd quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after purchasing an additional 503 shares in the last quarter. Finally, Haverford Trust Co. acquired a new stake in Devon Energy in the third quarter valued at approximately $207,000. Institutional investors own 77.64% of the company’s stock.
Several analysts have issued reports on DVN shares. Cowen set a $40.00 price objective on shares of Devon Energy and gave the company a “buy” rating in a research report on Tuesday, October 31st. Piper Jaffray Companies lowered their price objective on shares of Devon Energy from $46.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, September 18th. Royal Bank Of Canada set a $43.00 target price on Devon Energy and gave the company a “buy” rating in a research note on Friday, August 25th. Stephens upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a research note on Thursday, November 2nd. Finally, Morgan Stanley increased their target price on Devon Energy from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $46.56.
Devon Energy Corporation (DVN) traded down $0.15 during trading hours on Tuesday, reaching $38.49. The company had a trading volume of 447,752 shares, compared to its average volume of 4,779,369. The firm has a market capitalization of $20,391.00, a price-to-earnings ratio of 26.60, a P/E/G ratio of 1.22 and a beta of 2.21. Devon Energy Corporation has a 1 year low of $28.79 and a 1 year high of $50.69. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87.
Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the company earned $1.89 earnings per share. Devon Energy’s revenue was up 9.5% compared to the same quarter last year. equities analysts anticipate that Devon Energy Corporation will post 1.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.62%. Devon Energy’s payout ratio is presently 8.19%.
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Devon Energy Profile
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).
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