Vontobel Holding Ltd. Invests $567,000 in Devon Energy Co. (NYSE:DVN)

Vontobel Holding Ltd. acquired a new stake in shares of Devon Energy Co. (NYSE:DVN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,965 shares of the energy company’s stock, valued at approximately $567,000.

Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. grew its position in Devon Energy by 86.1% during the 1st quarter. BlackRock Inc. now owns 45,991,981 shares of the energy company’s stock worth $1,004,923,000 after purchasing an additional 21,276,787 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Devon Energy by 23.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,288,528 shares of the energy company’s stock valued at $115,241,000 after acquiring an additional 1,391,512 shares during the period. Nuveen Asset Management LLC increased its position in shares of Devon Energy by 50.4% in the 4th quarter. Nuveen Asset Management LLC now owns 5,436,119 shares of the energy company’s stock valued at $85,945,000 after acquiring an additional 1,822,067 shares during the period. Bank of New York Mellon Corp raised its stake in Devon Energy by 14.8% in the 4th quarter. Bank of New York Mellon Corp now owns 4,818,069 shares of the energy company’s stock worth $76,175,000 after acquiring an additional 621,600 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Devon Energy by 6.7% during the 4th quarter. Northern Trust Corp now owns 4,207,277 shares of the energy company’s stock worth $66,517,000 after acquiring an additional 265,426 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

In other news, CAO Jeremy D. Humphers sold 1,500 shares of the company’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $29.78, for a total transaction of $44,670.00. Following the completion of the sale, the chief accounting officer now owns 49,031 shares of the company’s stock, valued at $1,460,143.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Dennis C. Cameron sold 9,632 shares of the stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $31.26, for a total transaction of $301,096.32. Following the completion of the sale, the executive vice president now owns 316,658 shares of the company’s stock, valued at $9,898,729.08. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

DVN has been the subject of several research analyst reports. The Goldman Sachs Group started coverage on Devon Energy in a research note on Tuesday, March 23rd. They issued a “conviction-buy” rating and a $30.75 price objective for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on shares of Devon Energy from $24.00 to $29.00 in a research report on Tuesday, March 23rd. Mizuho lifted their price objective on shares of Devon Energy from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, May 17th. Barclays increased their price objective on shares of Devon Energy from $27.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, June 3rd. Finally, Citigroup boosted their target price on shares of Devon Energy from $24.00 to $29.00 in a research report on Tuesday, March 23rd. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $26.51.

Devon Energy stock opened at $29.39 on Friday. The firm has a market cap of $19.89 billion, a PE ratio of -14.84, a P/E/G ratio of 0.78 and a beta of 3.34. The company has a fifty day moving average of $25.05. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.83. Devon Energy Co. has a 1 year low of $7.73 and a 1 year high of $31.99.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, May 4th. The energy company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $2.27 billion. Devon Energy had a negative net margin of 14.46% and a positive return on equity of 4.86%. During the same period last year, the firm posted $0.06 earnings per share. On average, sell-side analysts predict that Devon Energy Co. will post 2.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Monday, June 14th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.63%. This is a boost from Devon Energy’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, May 13th. Devon Energy’s payout ratio is presently -488.89%.

About Devon Energy

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 3,942 gross wells. Devon Energy Corporation was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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