Devon Energy Corp (DVN) : Orca Investment Management added new position in Devon Energy Corp during the most recent quarter end. The investment management firm now holds 79,515 shares of Devon Energy Corp which is valued at $2,757,580 , the company said in a statement filed on Apr 25, 2016 with the SEC.Devon Energy Corp makes up approximately 3.05% of Orca Investment Management’s portfolio.
Devon Energy Corp closed down -0.12 points or -0.35% at $34.56 with 99,28,138 shares getting traded on Monday. Post opening the session at $34.43, the shares hit an intraday low of $33.5 and an intraday high of $34.84 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Other Hedge Funds, Including , Jfs Wealth Advisors added DVN to its portfolio by purchasing 27 company shares during the most recent quarter which is valued at $936.First Manhattan Co boosted its stake in DVN in the latest quarter, The investment management firm added 5,290 additional shares and now holds a total of 66,850 shares of Devon Energy Corp which is valued at $2,353,120. Devon Energy Corp makes up approx 0.01% of First Manhattan Co’s portfolio. First Citizens Bank Trust Co sold out all of its stake in DVN during the most recent quarter. The investment firm sold 80,519 shares of DVN which is valued $2,834,269.Gateway Investment Advisers reduced its stake in DVN by selling 9,149 shares or 18.54% in the most recent quarter. The Hedge Fund company now holds 40,208 shares of DVN which is valued at $1,415,322. Devon Energy Corp makes up approx 0.01% of Gateway Investment Advisers’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 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.