Devon Energy Corp (DVN) : Snow Capital Management Lp scooped up 725,333 additional shares in Devon Energy Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 1,842,791 shares of Devon Energy Corp which is valued at $59.9 Million.Devon Energy Corp makes up approximately 2.70% of Snow Capital Management Lp’s portfolio.
Other Hedge Funds, Including , Shell Asset Management Co reduced its stake in DVN by selling 17,705 shares or 45.89% in the most recent quarter. The Hedge Fund company now holds 20,879 shares of DVN which is valued at $678,985. Devon Energy Corp makes up approx 0.02% of Shell Asset Management Co’s portfolio.Nationwide Fund Advisors boosted its stake in DVN in the latest quarter, The investment management firm added 31,396 additional shares and now holds a total of 431,282 shares of Devon Energy Corp which is valued at $13.5 Million. Devon Energy Corp makes up approx 0.06% of Nationwide Fund Advisors’s portfolio.Schwab Charles Investment Management Inc boosted its stake in DVN in the latest quarter, The investment management firm added 410,468 additional shares and now holds a total of 2,403,831 shares of Devon Energy Corp which is valued at $75.5 Million. Devon Energy Corp makes up approx 0.10% of Schwab Charles Investment Management Inc’s portfolio. Quantitative Investment Management sold out all of its stake in DVN during the most recent quarter. The investment firm sold 299,000 shares of DVN which is valued $9.4 Million. Barton Investment Management sold out all of its stake in DVN during the most recent quarter. The investment firm sold 800 shares of DVN which is valued $27,744.
Devon Energy Corp opened for trading at $33.48 and hit $34.42 on the upside on Monday, eventually ending the session at $33.79, with a gain of 3.91% or 1.27 points. The heightened volatility saw the trading volume jump to 85,87,993 shares. Company has a market cap of $17,706 M.
On the company’s financial health, Devon Energy Corp reported $-0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.61. The company had revenue of $2126.00 million for the quarter, compared to analysts expectations of $2583.85 million. The company’s revenue was down -34.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 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. Company shares were Reiterated by Barclays on May 5, 2016 to “Overweight”, Firm has raised the Price Target to $ 34 from a previous price target of $26 .Company shares were Reiterated by RBC Capital Mkts on May 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 41 from a previous price target of $36 .Wunderlich Initiated Devon Energy Corp on Apr 27, 2016 to “Buy”, Price Target of the shares are set at $40.
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.