Devon Energy Corp (DVN) : Stuyvesant Capital Management scooped up 29,625 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 12, 2016. The investment management firm now holds a total of 57,635 shares of Devon Energy Corp which is valued at $1.9 Million.Devon Energy Corp makes up approximately 4.01% of Stuyvesant Capital Management’s portfolio.
Other Hedge Funds, Including , Cognios Capital added DVN to its portfolio by purchasing 106,258 company shares during the most recent quarter which is valued at $3.5 Million. Devon Energy Corp makes up approx 1.30% of Cognios Capital’s portfolio.Focused Wealth Management Inc reduced its stake in DVN by selling 100 shares or 66.67% in the most recent quarter. The Hedge Fund company now holds 50 shares of DVN which is valued at $1,626. Investors Capital Advisory Services added DVN to its portfolio by purchasing 10,238 company shares during the most recent quarter which is valued at $332,940. Devon Energy Corp makes up approx 0.07% of Investors Capital Advisory Services’s portfolio.Jennison Associates reduced its stake in DVN by selling 344,733 shares or 17.95% in the most recent quarter. The Hedge Fund company now holds 1,575,568 shares of DVN which is valued at $49.5 Million. Devon Energy Corp makes up approx 0.05% of Jennison Associates’s portfolio.
Devon Energy Corp opened for trading at $34.27 and hit $34.54 on the upside on Friday, eventually ending the session at $34.25, with a gain of 1.03% or 0.35 points. The heightened volatility saw the trading volume jump to 77,20,329 shares. Company has a market cap of $17,947 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. Devon Energy Corp was Upgraded by Johnson Rice to ” Accumulate” on May 19, 2016. 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 .
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.