() experienced a significant decrease in short-term interest during the month March. On March 31, there were 15,350,000 short shares. This is a 19.0% decrease from the total of 18,950,000 on March 15. At the moment, 2.4% are shorted. The short-interest rate is currently 1.5 days based on an average trading volume 10,330,000 shares.
Devon Energy Stock Performance
On Thursday, the stock fell $0.83 to $54.02. The stock of the company had a volume of 6,687 216 shares, which was lower than its average volume, 9,917 932. Devon Energy's low for the past 12 months is $44.03, and its high for that same period is $79.40. The last time ) announced its quarterly results was on February 15th. The energy company's $1.66 per share earnings for the third quarter fell short of the consensus estimate ($1.75 per share) by $0.09. Devon Energy's net margin was 31.38%, and its return on equity was 52.20%. The company had revenue of $4.30billion during the quarter compared to the consensus of $4.29billion. In the same quarter of the prior year, the company earned $1.39 per share. Revenue for the firm was up by.6% year-over-year. Analysts expect Devon Energy to post 6.48 earnings per share for the current fiscal year.
Devon Energy Increases Dividend
Recently, the company declared a dividend of None, which was paid out on Friday 31st March. Dividends were paid to shareholders who had their shares registered on March 15, 2013. This yield is 9.3%. Devon Energy had previously paid $0.49 in dividends. Ex-dividend was on Tuesday, March 14. Devon Energy's current dividend payout ratio is 8.77%.
Insider Buying & Selling
Richard E. Muncrief, the CEO of Devon Energy, bought 10,000 shares in a transaction on Friday, 17th February. The shares were purchased at an average of $53.28 a share for a transaction totaling $532,800.00. The chief executive now owns directly 1,973,977 of the company stock valued at $105,173,494.56. Richard E. Muncrief, the CEO of Devon Energy, bought 10,000 shares in a deal that took place on Friday, 17th February. The shares were purchased at a price of $53.28 on average per share for a transaction totaling $532,800.00. The chief executive now owns directly 1,973,977 of the company stock valued at $105,173,494.56. In a transaction that took place on Friday, 17th February, 7,179 shares were sold. Stock was sold for $393,193.83 at a price of $54.77 on average. After the sale is complete, the executive vice-president now owns 262,498 company shares, valued at around $14,377.015.46. Insiders own 0.80% of company stock.
Inflows of Institutional Capital and Outflows
Several large investors recently bought and then sold shares of DVN. WFA of San Diego LLC purchased a new position of Devon Energy valued at $25,000 in the fourth quarter. Tyler Stone Wealth Management bought a new stake of shares in Devon Energy during the fourth quarter valued at $25,000 Clearview Wealth Advisors LLC bought a new stake of shares in Devon Energy during the first quarter, valued at $25,000. Tradewinds Capital Management LLC increased its position in Devon Energy shares by 115.0% over the fourth quarter. Tradewinds Capital Management LLC owns 430 of the stock of the energy company valued at $26,000, after purchasing an additional 230 in the last quarter. Canada Pension Plan Investment Board also purchased shares of Devon Energy in the first quarter, valued at $26,000. 78.08% is held by institutional investors.
Wall Street analysts forecast growth
DVN was the subject of multiple analyst reports. Piper Sandler raised their price target on shares of Devon Energy to $87.00 in a Wednesday research note. The company was also given an "overweight" rating. Raymond James reduced their price target on shares of Devon Energy to $67.00 in a research report on Wednesday, 22nd February. The company was given a rating of'strong-buy. Stifel Nicolaus reduced their price target on shares of Devon Energy, from $82.00 down to $75.00. They also set a buy' rating in a research report on Wednesday, April 12. Mizuho reiterated its 'buy rating' and set a $71.00 target price on Devon Energy shares in a research report on Tuesday, April 11. Citigroup reduced their price target on shares of Devon Energy, from $77.00 down to $65.00, and gave the company a "buy" rating in a research report on Thursday, Feb. 23rd. Eight analysts have given the stock a hold, ten have given it a buy, and one has given the stock a strong-buy rating. MarketBeat.com data shows that the average rating for the stock is 'Moderate' Buy with an average price of $71.25.
Devon Energy Company Profile
Devon Energy Corp. is engaged in the exploration, production, and development of oil and gas properties. It operates and develops Delaware Basin Heavy Oil, Eagle Ford Shale, STACK and Rockies Oil. J. Larry Nichols, John W. Nichols founded the company in 1971. It is headquartered in Oklahoma City.
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