Hanlon investment management inc. acquires shares of 129,858 devon energy corp. (dvn) – bangaloreweekly

Hanlon Investment Management Inc. bought a new stake in shares of Devon Energy Corp. (NYSE:DVN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 129,858 shares of the energy company’s stock, valued at approximately $4,707,000.

A number of other institutional investors have also bought and sold shares of the stock. Hall Laurie J Trustee raised its position in Devon Energy Corp. by 13.7% in the second quarter. Hall Laurie J Trustee now owns 3,745 shares of the energy company’s stock valued at $141,000 after buying an additional 450 shares during the period. RS Investment Management Co. LLC acquired a new position in Devon Energy Corp.


during the second quarter valued at approximately $144,000. Botty Investors LLC raised its position in Devon Energy Corp. by 181.8% in the second quarter. Botty Investors LLC now owns 4,650 shares of the energy company’s stock valued at $169,000 after buying an additional 3,000 shares during the period. Franklin Street Advisors Inc. NC acquired a new position in Devon Energy Corp. during the second quarter valued at approximately $201,000. Finally, Papp L Roy & Associates acquired a new position in Devon Energy Corp. during the second quarter valued at approximately $207,000. 75.61% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Corp. (NYSE:DVN) traded down 3.16% during mid-day trading on Friday, reaching $39.18. 5,869,084 shares of the company’s stock traded hands. The company’s market capitalization is $20.51 billion. The company has a 50-day moving average of $42.23 and a 200-day moving average of $38.43. Devon Energy Corp. has a 52-week low of $18.07 and a 52-week high of $48.68.

Devon Energy Corp. (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 2nd. The energy company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.25. The company earned $2.49 billion during the quarter, compared to analyst estimates of $2.29 million. Devon Energy Corp. had a negative net margin of 114.09% and a positive return on equity of 3.62%. The business’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. Equities research analysts expect that Devon Energy Corp. will post ($0.29) EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Tuesday, December 13th. Devon Energy Corp.’s dividend payout ratio is currently -0.82%.

Several equities analysts recently commented on the company. Deutsche Bank AG reissued a “buy” rating on shares of Devon Energy Corp. in a report on Sunday, July 17th. Morgan Stanley set a $54.00 price objective on Devon Energy Corp. and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Scotiabank reaffirmed a “focus stock” rating and set a $61.00 price objective (up previously from $50.00) on shares of Devon Energy Corp. in a report on Monday, July 11th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $46.00 price objective on shares of Devon Energy Corp. in a report on Wednesday, August 3rd. Finally, Zacks Investment Research lowered Devon Energy Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the stock. Devon Energy Corp. currently has an average rating of “Buy” and an average target price of $42.21.

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 Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.