Hendley Co Inc Lowers stake in Devon Energy Corp (DVN)

Devon Energy Corp (DVN) : Hendley Co Inc reduced its stake in Devon Energy Corp by 0.78% during the most recent quarter end. The investment management company now holds a total of 18,992 shares of Devon Energy Corp which is valued at $668,518 after selling 150 shares in Devon Energy Corp , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Devon Energy Corp makes up approximately 0.41% of Hendley Co Inc’s portfolio.

Devon Energy Corp opened for trading at $34.9 and hit $37.18 on the upside on Wednesday, eventually ending the session at $36.91, with a gain of 6.61% or 2.29 points. The heightened volatility saw the trading volume jump to 1,49,21,660 shares. Company has a market cap of $16,288 M.

Other Hedge Funds, Including , Winslow Evans Crocker reduced its stake in DVN by selling 149 shares or 19.25% in the most recent quarter. The Hedge Fund company now holds 625 shares of DVN which is valued at $22,000. Devon Energy Corp makes up approx 0.01% of Winslow Evans Crocker’s portfolio.Cwm boosted its stake in DVN in the latest quarter, The investment management firm added 14,262 additional shares and now holds a total of 29,395 shares of Devon Energy Corp which is valued at $1,034,704. Devon Energy Corp makes up approx 0.09% of Cwm’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in DVN in the latest quarter, The investment management firm added 37,651 additional shares and now holds a total of 124,246 shares of Devon Energy Corp which is valued at $3,901,324. Devon Energy Corp makes up approx 0.09% of Exxonmobil Investment Management Inc Tx’s portfolio.Eagle Asset Management Inc reduced its stake in DVN by selling 32,457 shares or 5.08% in the most recent quarter. The Hedge Fund company now holds 606,518 shares of DVN which is valued at $17,619,348. Devon Energy Corp makes up approx 0.12% of Eagle Asset Management Inc’s portfolio.

On the company’s financial health, Devon Energy Corp reported $0.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 16, 2016. Analyst had a consensus of $0.71. The company had revenue of $2886.00 million for the quarter, compared to analysts expectations of $3748.46 million. The company’s revenue was down -51.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.83 EPS.

Investors should note that on Feb 16, 2016, Devon Energy Corp announced a cash dividend of $0.0600. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jun 30, 2016.

Many Wall Street Analysts have commented on Devon Energy Corp. Wunderlich Initiated Devon Energy Corp on Apr 27, 2016 to “Buy”, Price Target of the shares are set at $40.Company shares were Reiterated by Deutsche Bank on Apr 21, 2016 to “Buy”, Firm has raised the Price Target to $ 41 from a previous price target of $32 .Devon Energy Corp was Upgraded by Morgan Stanley to ” Overweight” on Apr 19, 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 Company’s 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 Company’s projects in North America include Anadarko Basin Barnett Shale Mississippian-Woodford Trend Permian Basin Rockies and Canadian Heavy Oil. EnLink’s 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.

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