11,970 Shares in Devon Energy Corp (NYSE:DVN) Purchased by Tiverton Asset Management LLC
Tiverton Asset Management LLC acquired a new position in Devon Energy Corp (NYSE:DVN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,970 shares of the energy company’s stock, valued at approximately $341,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Intrust Bank NA raised its position in shares of Devon Energy by 3.3% in the 1st quarter. Intrust Bank NA now owns 11,521 shares of the energy company’s stock worth $363,000 after purchasing an additional 366 shares during the last quarter. Zions Bancorporation N.A. increased its stake in Devon Energy by 6.4% during the 2nd quarter. Zions Bancorporation N.A. now owns 7,342 shares of the energy company’s stock valued at $209,000 after purchasing an additional 440 shares in the last quarter. Advisory Services Network LLC raised its holdings in Devon Energy by 43.1% in the second quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock worth $48,000 after buying an additional 516 shares during the last quarter. Doliver Advisors LP raised its holdings in Devon Energy by 7.8% in the second quarter. Doliver Advisors LP now owns 9,422 shares of the energy company’s stock worth $269,000 after buying an additional 684 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Devon Energy by 7.7% in the first quarter. Stephens Inc. AR now owns 9,608 shares of the energy company’s stock worth $303,000 after buying an additional 687 shares in the last quarter. Institutional investors and hedge funds own 85.93% of the company’s stock.
Shares of DVN stock traded down $0.07 on Wednesday, reaching $24.49. The stock had a trading volume of 220,623 shares, compared to its average volume of 6,570,549. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 1.49. Devon Energy Corp has a 1 year low of $20.37 and a 1 year high of $42.27. The stock has a market cap of $9.96 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.75 and a beta of 2.34. The company has a 50 day simple moving average of $23.67 and a 200 day simple moving average of $27.98.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.47%. Devon Energy’s payout ratio is currently 27.91%.
Several brokerages recently weighed in on DVN. Seaport Global Securities reissued a “buy” rating on shares of Devon Energy in a research report on Friday, June 21st. Piper Jaffray Companies set a $39.00 price objective on Devon Energy and gave the company a “buy” rating in a research report on Friday, May 31st. SunTrust Banks assumed coverage on Devon Energy in a report on Tuesday, July 30th. They issued a “buy” rating and a $33.00 target price for the company. MKM Partners set a $32.00 price target on Devon Energy and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Wells Fargo & Co began coverage on Devon Energy in a report on Monday, May 20th. They set an “outperform” rating and a $40.00 price target on the stock. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Devon Energy has an average rating of “Hold” and a consensus price target of $37.09.
In related news, CAO Jeremy D. Humphers sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $21.66, for a total value of $32,490.00. Following the transaction, the chief accounting officer now owns 42,475 shares of the company’s stock, valued at $920,008.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.63% of the stock is owned by corporate insiders.
About Devon Energy
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 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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