Devon Energy Corp (DVN) : Knott David M scooped up 70,000 additional shares in Devon Energy Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 290,000 shares of Devon Energy Corp which is valued at $12,084,300.Devon Energy Corp makes up approximately 2.76% of Knott David M’s portfolio.
Other Hedge Funds, Including , Group One Trading reduced its stake in DVN by selling 36,907 shares or 27.56% in the most recent quarter. The Hedge Fund company now holds 96,987 shares of DVN which is valued at $4,041,448. Devon Energy Corp makes up approx 0.35% of Group One Trading’s portfolio. Psagot Investment House Ltd. sold out all of its stake in DVN during the most recent quarter. The investment firm sold 3,000 shares of DVN which is valued $123,930.Benchmark Capital Advisors reduced its stake in DVN by selling 2,800 shares or 8.19% in the most recent quarter. The Hedge Fund company now holds 31,403 shares of DVN which is valued at $1,262,401. Devon Energy Corp makes up approx 0.99% of Benchmark Capital Advisors’s portfolio. Hedeker Wealth added DVN to its portfolio by purchasing 6,172 company shares during the most recent quarter which is valued at $236,264. Devon Energy Corp makes up approx 0.20% of Hedeker Wealth’s portfolio.Eagle Asset Management Inc reduced its stake in DVN by selling 10,894 shares or 1.8% in the most recent quarter. The Hedge Fund company now holds 595,624 shares of DVN which is valued at $22,609,887. Devon Energy Corp makes up approx 0.15% of Eagle Asset Management Inc’s portfolio.
Devon Energy Corp opened for trading at $44.39 and hit $45.06 on the upside on Monday, eventually ending the session at $45.01, with a gain of 1.31% or 0.58 points. The heightened volatility saw the trading volume jump to 55,71,338 shares. Company has a market cap of $23,567 M.
On the company’s financial health, Devon Energy Corp reported $0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.25 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.19. The company had revenue of $2488.00 million for the quarter, compared to analysts expectations of $2296.19 million. The company’s revenue was down -26.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.78 EPS.
Investors should note that on Jun 8, 2016, Devon Energy Corp announced a cash dividend of $0.0600. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.
Many Wall Street Analysts have commented on Devon Energy Corp. Company shares were Downgraded by KLR Group on Jul 18, 2016 to ” Accumulate”, Firm has raised the Price Target to $ 44 from a previous price target of $41 .Company shares were Upgraded by Scotia Howard Weil on Jul 11, 2016 to ” Focus Stock”, Firm has raised the Price Target to $ 61 from a previous price target of $50 .Company shares were Resumed by Piper Jaffray on Jul 7, 2016 to “Neutral”, Firm has raised the Price Target to $ 41 from a previous price target of $39 .
Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration development and production of oil natural gas and natural gas liquids (NGLs). The Companys operations are concentrated in various North American onshore areas in the United States and Canada. Devon has approximately 689 Million Barrels of Oil Equivalent (MMBoe) of proved undeveloped reserves. The Company operates through three segments: U.S. Canada and EnLink. The Companys projects in North America include Anadarko Basin Barnett Shale Mississippian-Woodford Trend Permian Basin Rockies and Canadian Heavy Oil. EnLinks operations consist of midstream assets and operations located across the United States. In Canada the company has two main projects Jackfish and Pike located in Alberta Canada. In addition its Lloydminster properties are located to the south and east of Jackfish in eastern Alberta.