Devon Energy Corp (DVN) : Elm Ridge Management added new position in Devon Energy Corp during the most recent quarter end. The investment management firm now holds 317,809 shares of Devon Energy Corp which is valued at $13,243,101 , the company said in a statement filed on Aug 15, 2016 with the SEC.Devon Energy Corp makes up approximately 3.86% of Elm Ridge Management’s portfolio.
Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in DVN in the latest quarter, The investment management firm added 252,411 additional shares and now holds a total of 892,102 shares of Devon Energy Corp which is valued at $37,173,890. Devon Energy Corp makes up approx 0.05% of Manufacturers Life Insurance Company The’s portfolio.Thrivent Financial For Lutherans boosted its stake in DVN in the latest quarter, The investment management firm added 210 additional shares and now holds a total of 1,169,240 shares of Devon Energy Corp which is valued at $48,722,231. Devon Energy Corp makes up approx 0.23% of Thrivent Financial For Lutherans’s portfolio.Apg Asset Management N.v. boosted its stake in DVN in the latest quarter, The investment management firm added 47,100 additional shares and now holds a total of 168,479 shares of Devon Energy Corp which is valued at $7,020,520. Devon Energy Corp makes up approx 0.01% of Apg Asset Management N.v.’s portfolio. Psagot Investment House Ltd. sold out all of its stake in DVN during the most recent quarter. The investment firm sold 3,000 shares of DVN which is valued $123,930. Parkwood sold out all of its stake in DVN during the most recent quarter. The investment firm sold 9,090 shares of DVN which is valued $343,148.
Devon Energy Corp closed down -0.01 points or -0.02% at $44.2 with 4,112,753 shares getting traded on Wednesday. Post opening the session at $44.55, the shares hit an intraday low of $43.77 and an intraday high of $44.9 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, Devon Energy Corp reported $0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.25 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.19. The company had revenue of $2488.00 million for the quarter, compared to analysts expectations of $2296.19 million. The company’s revenue was down -26.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.78 EPS.
Investors should note that on Jun 8, 2016, Devon Energy Corp announced a cash dividend of $0.0600. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.
Many Wall Street Analysts have commented on Devon Energy Corp. Devon Energy Corp was Downgraded by Raymond James to ” Mkt Perform” on Sep 6, 2016. Company shares were Downgraded by KLR Group on Jul 18, 2016 to ” Accumulate”, Firm has raised the Price Target to $ 44 from a previous price target of $41 .Company shares were Upgraded by Scotia Howard Weil on Jul 11, 2016 to ” Focus Stock”, Firm has raised the Price Target to $ 61 from a previous price target of $50 .
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.