Devon Energy Corp (DVN) : Stonebridge Capital Management Inc reduced its stake in Devon Energy Corp by 3.09% during the most recent quarter end. The investment management company now holds a total of 25,065 shares of Devon Energy Corp which is valued at $1,079,800 after selling 800 shares in Devon Energy Corp , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Devon Energy Corp makes up approximately 0.47% of Stonebridge Capital Management Inc’s portfolio.
Other Hedge Funds, Including , Cwm reduced its stake in DVN by selling 1,060 shares or 3.61% in the most recent quarter. The Hedge Fund company now holds 28,335 shares of DVN which is valued at $1,220,672. Devon Energy Corp makes up approx 0.09% of Cwm’s portfolio.Reliance Trust Co Of Delaware reduced its stake in DVN by selling 1,546 shares or 15.73% in the most recent quarter. The Hedge Fund company now holds 8,285 shares of DVN which is valued at $356,918. Devon Energy Corp makes up approx 0.03% of Reliance Trust Co Of Delaware’s portfolio.Osborn Rohs Williams Donohoe Ltd reduced its stake in DVN by selling 3,045 shares or 11.79% in the most recent quarter. The Hedge Fund company now holds 22,785 shares of DVN which is valued at $1,005,730. Devon Energy Corp makes up approx 0.20% of Osborn Rohs Williams Donohoe Ltd’s portfolio. Trust Co Of Oklahoma sold out all of its stake in DVN during the most recent quarter. The investment firm sold 6,900 shares of DVN which is valued $295,389.Chevy Chase Trust Holdings reduced its stake in DVN by selling 7,329 shares or 1.16% in the most recent quarter. The Hedge Fund company now holds 626,439 shares of DVN which is valued at $27,676,075. Devon Energy Corp makes up approx 0.15% of Chevy Chase Trust Holdings’s portfolio.
Devon Energy Corp closed down -0.82 points or -1.87% at $43.08 with 32,57,574 shares getting traded on Friday. Post opening the session at $44.14, the shares hit an intraday low of $43.07 and an intraday high of $44.49 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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 Sep 14, 2016, Devon Energy Corp announced a cash dividend of $0.0600. The company’s management has announced Dec 13, 2016 as the ex-dividend date and fixed the record date on Dec 15, 2016. The payable date has been fixed on Dec 30, 2016.
Many Wall Street Analysts have commented on Devon Energy Corp. Devon Energy Corp was Downgraded by Raymond James to ” Mkt Perform” on Sep 6, 2016.
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.