Janus Henderson Group PLC Lowers Stock Holdings in Devon Energy Co. (NYSE:DVN)

Janus Henderson Group PLC trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 9.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,273 shares of the energy company’s stock after selling 6,900 shares during the quarter. Janus Henderson Group PLC’s holdings in Devon Energy were worth $2,670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EnCap Energy Capital Fund XI L.P. purchased a new position in shares of Devon Energy in the 3rd quarter valued at about $461,857,000. EnCap Partners GP LLC purchased a new position in shares of Devon Energy in the 3rd quarter valued at about $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new position in shares of Devon Energy in the 3rd quarter valued at about $230,928,000. International Assets Investment Management LLC boosted its stake in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after buying an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after buying an additional 1,677,652 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Up 0.1 %

Devon Energy stock opened at $34.77 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a 1-year low of $34.53 and a 1-year high of $55.09. The company has a market cap of $22.84 billion, a PE ratio of 6.45, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. The stock’s 50 day moving average price is $39.07 and its 200 day moving average price is $42.78.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 13th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.53%. Devon Energy’s payout ratio is 16.33%.

Analyst Upgrades and Downgrades

DVN has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price for the company. Mizuho decreased their target price on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Scotiabank decreased their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Benchmark restated a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Finally, Susquehanna decreased their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.75.

Devon Energy Profile

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.