November 24, 2016 - By Adrian Mccoy · 0 Comments
Devon Energy Corp (NYSE:DVN) institutional sentiment decreased to 0.89 in 2016 Q2. Its down -0.05, from 0.94 in 2016Q1. The ratio worsened, as 308 institutional investors started new and increased positions, while 327 sold and trimmed stakes in Devon Energy Corp. The institutional investors in our partner’s database reported: 391.88 million shares, down from 402.14 million shares in 2016Q1. Also, the number of institutional investors holding Devon Energy Corp in their top 10 positions decreased from 15 to 12 for a decrease of 3. Sold All: 69 Reduced: 258 Increased: 210 New Position: 98.
Devon Energy Corporation is an independent energy firm engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The company has a market cap of $23.36 billion. The Company’s activities are concentrated in various North American onshore areas in the United States and Canada. It currently has negative earnings. The Firm also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.
The stock increased 1.26% or $0.56 on November 23, hitting $45.04. About 2.93 million shares traded hands. Devon Energy Corp (NYSE:DVN) has risen 27.95% since April 22, 2016 and is uptrending. It has outperformed by 22.55% the S&P500.
Analysts await Devon Energy Corp (NYSE:DVN) to report earnings on February, 21. They expect $0.18 earnings per share, down 76.62% or $0.59 from last year’s $0.77 per share. DVN’s profit will be $93.36 million for 62.56 P/E if the $0.18 EPS becomes a reality. After $0.09 actual earnings per share reported by Devon Energy Corp for the previous quarter, Wall Street now forecasts 100.00% EPS growth.
According to Zacks Investment Research, “Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City and included in the S&P 500, Devon operates in several of the most prolific oil and natural gas plays in the U.S. and Canada with an emphasis on a balanced portfolio. The Company is the second-largest oil producer among North American onshore independents.”
First Reserve Gp Xii Ltd holds 18.17% of its portfolio in Devon Energy Corp for 1.34 million shares. Stuyvesant Capital Management owns 82,960 shares or 5.95% of their US portfolio. Moreover, Mitchell Group Inc has 5.81% invested in the company for 1.60 million shares. The New York-based Grisanti Capital Management Llc has invested 4.03% in the stock. Key Group Holdings (Cayman) Ltd., a Bahamas-based fund reported 1.23 million shares.#img1#
Ratings analysis reveals 72% of Devon Energy Corporation’s analysts are positive. Out of 25 Wall Street analysts rating Devon Energy Corporation, 18 give it “Buy”, 1 “Sell” rating, while 6 recommend “Hold”. The lowest target is $26 while the high is $80. The stock’s average target of $45.17 is 0.29% above today’s ($45.04) share price. DVN was included in 56 notes of analysts from July 21, 2015. Evercore upgraded the shares of DVN in a report on Friday, April 15 to “Buy” rating. Seaport Global downgraded Devon Energy Corp (NYSE:DVN) on Wednesday, January 13 to “Neutral” rating. KLR Group downgraded the stock to “Accumulate” rating in Monday, July 18 report. As per Monday, January 11, the company rating was upgraded by Barclays Capital. As per Thursday, September 1, the company rating was maintained by Barclays Capital. The company was initiated on Wednesday, December 9 by JP Morgan. The stock has “Sector Perform” rating given by iBERIA Capital Partners on Tuesday, March 8. UBS maintained the shares of DVN in a report on Tuesday, December 8 with “Sell” rating. On Thursday, June 16 the stock rating was maintained by UBS with “Sell”. Barclays Capital maintained the shares of DVN in a report on Friday, February 19 with “Overweight” rating.
Devon Energy Corporation (Devon), incorporated on May 18, 1999, is an independent energy firm engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s activities are concentrated in various North American onshore areas in the United States and Canada. The Firm also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day. The Firm operates through three divisions: U.S., Canada and EnLink. Devon’s U.S. and Canadian divisions are engaged in gas and oil exploration and production activities. EnLink’s activities consist of midstream assets and activities located across the United States.
More news for Devon Energy Corp (NYSE:DVN) were recently published by: Fool.com, which released: “Devon Energy Corp Delivers Record-Setting Well Results” on November 02, 2016. Newsok.com‘s article titled: “Devon Energy agrees to cancel federal leases on tribal land in Montana” and published on November 17, 2016 is yet another important article.
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By Adrian Mccoy