OMERS ADMINISTRATION Corp Grows Position in Devon Energy Corporation $DVN

OMERS ADMINISTRATION Corp increased its position in Devon Energy Corporation (NYSE:DVN) by 16.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 90,647 shares of the energy company’s stock after purchasing an additional 13,115 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Devon Energy were worth $4,561,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DVN. Pacer Advisors Inc. lifted its position in Devon Energy by 2,108.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock valued at $233,953,000 after buying an additional 6,097,658 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Devon Energy by 42,376.5% in the 4th quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock worth $132,206,000 after acquiring an additional 3,600,731 shares in the last quarter. Kimmeridge Energy Management Company LLC lifted its position in Devon Energy by 56.5% during the 4th quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after acquiring an additional 3,195,862 shares during the period. AQR Capital Management LLC lifted its position in Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after acquiring an additional 2,802,137 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Devon Energy by 92.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,180,682 shares of the energy company’s stock worth $260,692,000 after acquiring an additional 2,485,603 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Insider Activity

In related news, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the sale, the executive vice president directly owned 428,452 shares in the company, valued at approximately $19,991,570.32. This trade represents a 14.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the transaction, the senior vice president directly owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 112,371 shares of company stock valued at $5,258,059 over the last ninety days. 4.58% of the stock is currently owned by corporate insiders.

Devon Energy Price Performance

Shares of DVN opened at $43.12 on Tuesday. Devon Energy Corporation has a twelve month low of $31.47 and a twelve month high of $52.71. The company has a market capitalization of $26.80 billion, a P/E ratio of 12.01 and a beta of 0.38. The firm has a 50 day moving average of $43.96 and a 200 day moving average of $44.45. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the company posted $0.82 earnings per share. The business’s revenue was down 14.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Devon Energy Corporation will post 4.64 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.32 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, June 15th. Devon Energy’s dividend payout ratio (DPR) is presently 35.65%.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of recent research reports. The Goldman Sachs Group cut their price objective on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Morgan Stanley lowered their target price on shares of Devon Energy from $66.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, June 26th. BMO Capital Markets restated an “outperform” rating on shares of Devon Energy in a research note on Wednesday, June 10th. UBS Group lowered their price objective on Devon Energy from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Roth Capital reissued a “buy” rating and issued a $57.00 target price on shares of Devon Energy in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.56.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.