Devon Energy Co. (NYSE:DVN) Shares Bought by Summit Global Investments

Summit Global Investments raised its position in Devon Energy Co. (NYSE:DVN - Free Report) by 63.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,499 shares of the energy company's stock after acquiring an additional 48,431 shares during the quarter. Summit Global Investments' holdings in Devon Energy were worth $4,870,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Annex Advisory Services LLC lifted its position in shares of Devon Energy by 0.8% during the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company's stock worth $1,311,000 after acquiring an additional 223 shares in the last quarter. Versant Capital Management Inc lifted its stake in Devon Energy by 30.4% during the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company's stock worth $46,000 after purchasing an additional 226 shares during the last quarter. Archer Investment Corp boosted its holdings in shares of Devon Energy by 2.8% in the 2nd quarter. Archer Investment Corp now owns 8,535 shares of the energy company's stock worth $405,000 after purchasing an additional 235 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in Devon Energy by 2.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company's stock worth $476,000 after purchasing an additional 236 shares during the period. Finally, Institute for Wealth Management LLC. boosted its holdings in Devon Energy by 4.0% during the 2nd quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company's stock valued at $296,000 after acquiring an additional 237 shares during the period. Institutional investors own 69.72% of the company's stock.

Devon Energy Trading Down 0.0 %

Shares of NYSE:DVN traded down $0.01 during trading on Friday, hitting $38.88. The company had a trading volume of 5,266,193 shares, compared to its average volume of 7,418,489. The stock has a market cap of $24.35 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The company has a fifty day simple moving average of $40.60 and a two-hundred day simple moving average of $44.99.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. Devon Energy's quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.65 EPS. As a group, equities analysts forecast that Devon Energy Co. will post 4.93 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, December 13th. Devon Energy's dividend payout ratio (DPR) is currently 15.97%.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of recent analyst reports. StockNews.com downgraded Devon Energy from a "hold" rating to a "sell" rating in a report on Thursday. Mizuho reduced their price objective on Devon Energy from $53.00 to $51.00 and set an "outperform" rating for the company in a research report on Wednesday, October 9th. Jefferies Financial Group assumed coverage on Devon Energy in a report on Thursday, October 3rd. They issued a "hold" rating and a $45.00 target price on the stock. Susquehanna reduced their price target on Devon Energy from $63.00 to $62.00 and set a "positive" rating for the company in a report on Friday, October 18th. Finally, Benchmark reissued a "hold" rating on shares of Devon Energy in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Devon Energy has a consensus rating of "Moderate Buy" and a consensus target price of $51.80.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.