US Bancorp DE Has $4.40 Million Holdings in Devon Energy Corporation (NYSE:DVN)

by · The Cerbat Gem

US Bancorp DE increased its stake in Devon Energy Corporation (NYSE:DVN – Free Report) by 6.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,743 shares of the energy company’s stock after purchasing an additional 7,004 shares during the period. US Bancorp DE’s holdings in Devon Energy were worth $4,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. Fuller & Thaler Asset Management Inc. boosted its stake in Devon Energy by 42.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock worth $340,236,000 after purchasing an additional 3,114,656 shares during the period. Marshall Wace LLP raised its holdings in shares of Devon Energy by 135.5% in the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock valued at $175,810,000 after purchasing an additional 3,090,585 shares during the period. Invesco Ltd. raised its holdings in shares of Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock valued at $309,682,000 after purchasing an additional 2,335,473 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Devon Energy by 530.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,067,465 shares of the energy company’s stock valued at $77,323,000 after purchasing an additional 1,739,436 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Devon Energy by 345.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,163,792 shares of the energy company’s stock valued at $70,821,000 after purchasing an additional 1,678,500 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Performance

NYSE DVN opened at $32.33 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $20.76 billion, a price-to-earnings ratio of 7.36, a P/E/G ratio of 1.81 and a beta of 1.07. The firm’s 50 day simple moving average is $32.96 and its 200 day simple moving average is $33.31. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $46.04.

Devon Energy (NYSE:DVN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. As a group, research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DVN. BMO Capital Markets upped their target price on shares of Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Barclays upped their target price on shares of Devon Energy from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, May 7th. Wall Street Zen raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $46.00 target price (up from $44.00) on shares of Devon Energy in a report on Tuesday, July 15th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $45.00 price target (up previously from $40.00) on shares of Devon Energy in a research note on Tuesday, July 22nd. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.85.

Read Our Latest Analysis on DVN

About Devon Energy

(Free Report)

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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