The Lucas Capital Management Sells 30,200 Shares of Devon Energy Corp (DVN)

The Lucas Capital Management Sells 30,200 Shares of Devon Energy Corp (DVN)

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Devon Energy Corp during the fourth quarter worth about $239,147,000. Discovery Capital Management LLC CT acquired a new stake in shares of Devon Energy Corp during the fourth quarter worth about $153,392,000. Shelton Capital Management increased its stake in shares of Devon Energy Corp by 14,804.2% in the fourth quarter. Shelton Capital Management now owns 2,000,000 shares of the energy company’s stock worth $613,000 after buying an additional 1,986,581 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Devon Energy Corp during the third quarter worth about $54,742,000. Finally, State Street Corp increased its stake in shares of Devon Energy Corp by 3.3% in the fourth quarter. State Street Corp now owns 27,743,193 shares of the energy company’s stock worth $1,267,033,000 after buying an additional 888,426 shares during the last quarter. 77.18% of the stock is owned by institutional investors and hedge funds.

Lucas Capital Management cut its position in Devon Energy Corp (NYSE:DVN) by 59.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,600 shares of the energy company’s stock after selling 30,200 shares during the period. Lucas Capital Management’s holdings in Devon Energy Corp were worth $859,000 as of its most recent filing with the SEC.

Shares of Devon Energy Corp (NYSE:DVN) opened at 33.13 on Monday. The stock has a market capitalization of $17.42 billion, a P/E ratio of 56.25 and a beta of 2.17. The firm’s 50-day moving average price is $37.97 and its 200-day moving average price is $42.88. Devon Energy Corp has a 52-week low of $32.81 and a 52-week high of $50.69.

Devon Energy Corp (NYSE:DVN) last issued its earnings results on Tuesday, May 2nd. The energy company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Devon Energy Corp had a positive return on equity of 1.48% and a negative net margin of 69.59%. Equities analysts forecast that Devon Energy Corp will post $1.90 earnings per share for the current fiscal year. Several equities analysts have weighed in on DVN shares. Scotiabank set a $54.00 target price on Devon Energy Corp and gave the company a “buy” rating in a research report on Monday, March 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $50.00 target price on shares of Devon Energy Corp in a research report on Wednesday, March 22nd. Zacks Investment Research cut Devon Energy Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 21st. Credit Suisse Group AG reiterated a “buy” rating and issued a $57.00 price objective on shares of Devon Energy Corp in a research note on Friday, March 31st. Finally, KLR Group lifted their price objective on Devon Energy Corp from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Devon Energy Corp has an average rating of “Buy” and an average price target of $51.41.

In other news, Director Robert A. Mosbacher, Jr. sold 800 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $39.18, for a total value of $31,344.00. Following the completion of the sale, the director now owns 23,308 shares of the company’s stock, valued at $913,207.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.98% of the company’s stock. About Devon Energy Corp

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DVN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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