Devon Energy Corp (DVN) : Charter Research Investment Group reduced its stake in Devon Energy Corp by 50.99% during the Q4 period. The investment management company now holds a total of 13,110 shares of Devon Energy Corp which is valued at $361,049 after selling 13,640 shares in Devon Energy Corp according to the most recent disclosure to the SEC.Devon Energy Corp makes up approximately 0.42% of Charter Research Investment Group’s portfolio.
Other Hedge Funds, Including , Ngam Advisors reduced its stake in DVN by selling 16,991 shares or 17.01% during the fourth quarter. The Hedge Fund company now holds 82,924 shares of DVN which is valued at $2.3 Million. Devon Energy Corp makes up approx 0.04% of Ngam Advisors’s portfolio.Van Eck Associates Corp reduced its stake in DVN by selling 94,258 shares or 57.38% during the fourth quarter. The Hedge Fund company now holds 70,022 shares of DVN which is valued at $1.9 Million. Devon Energy Corp makes up approx 0.01% of Van Eck Associates Corp’s portfolio. Renaissance Technologies sold out all of its stake in DVN during the fourth quarter. The investment firm sold 242,800 shares of DVN which is valued $6.7 Million.Ftb Advisors reduced its stake in DVN by selling 1,144 shares or 85.12% during the fourth quarter. The Hedge Fund company now holds 200 shares of DVN which is valued at $5,508.
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. Shares were Reiterated by Deutsche Bank on Mar 29, 2016 to “Buy” and Lowered the Price Target to $ 32 from a previous price target of $48 .Shares were Reiterated by RBC Capital Mkts on Feb 18, 2016 to “Outperform” and Lowered the Price Target to $ 35 from a previous price target of $50 .Devon Energy Corp was Resumed by Citigroup to “Buy” on Jan 26, 2016.
Devon Energy Corp opened for trading at $27.36 and hit $28.25 on the upside on Thursday, eventually ending the session at $27.6, with a gain of 0.15% or 0.04 points. The heightened volatility saw the trading volume jump to 1,06,06,875 shares. Company has a market cap of $12,180 M.
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.