Institutional Investors Are Dumping Devon Energy Corp (NYSE:DVN)

September 30, 2018 - By Pearl Odom

Devon Energy Corporation (NYSE:DVN) Logo

Sentiment for Devon Energy Corp (NYSE:DVN)

Devon Energy Corp (NYSE:DVN) institutional sentiment decreased to 0.83 in Q2 2018. Its down -0.11, from 0.94 in 2018Q1. The ratio fall, as 262 investment managers opened new or increased holdings, while 316 sold and reduced their holdings in Devon Energy Corp. The investment managers in our partner’s database reported: 398.41 million shares, down from 407.74 million shares in 2018Q1. Also, the number of investment managers holding Devon Energy Corp in their top 10 holdings increased from 5 to 14 for an increase of 9. Sold All: 64 Reduced: 252 Increased: 176 New Position: 86.

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. The company has market cap of $20.32 billion. It operates approximately 15,200 gross wells. It currently has negative earnings. The firm also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

The stock increased 1.42% or $0.56 during the last trading session, reaching $39.94. About 7.24M shares traded or 18.91% up from the average. Devon Energy Corporation (NYSE:DVN) has risen 30.40% since September 30, 2017 and is uptrending. It has outperformed by 14.78% the S&P500.

Analysts await Devon Energy Corporation (NYSE:DVN) to report earnings on October, 30. They expect $0.50 EPS, up 8.70 % or $0.04 from last year’s $0.46 per share. DVN’s profit will be $254.39M for 19.97 P/E if the $0.50 EPS becomes a reality. After $0.34 actual EPS reported by Devon Energy Corporation for the previous quarter, Wall Street now forecasts 47.06 % EPS growth.

Elm Ridge Management Llc holds 6.9% of its portfolio in Devon Energy Corporation for 376,623 shares. Sir Capital Management L.P. owns 950,091 shares or 6.8% of their US portfolio. Moreover, Mitchell Group Inc has 5.91% invested in the company for 774,819 shares. The New York-based Stuyvesant Capital Management has invested 5.5% in the stock. Poplar Forest Capital Llc, a California-based fund reported 1.27 million shares.

Devon Energy Corporation (NYSE:DVN) Ratings Coverage

Ratings analysis reveals 69% of Devon Energy Corp’s analysts are positive. Out of 16 Wall Street analysts rating Devon Energy Corp, 11 give it “Buy”, 0 “Sell” rating, while 5 recommend “Hold”. The lowest target is $44 while the high is $6800. The stock’s average target of $52 is 30.20% above today’s ($39.94) share price. DVN was included in 19 notes of analysts from April 12, 2018. The stock has “Buy” rating by RBC Capital Markets on Friday, April 13. Susquehanna maintained Devon Energy Corporation (NYSE:DVN) rating on Wednesday, August 1. Susquehanna has “Positive” rating and $53 target. The firm has “Buy” rating by Bank of America given on Monday, July 16. FBR Capital maintained the shares of DVN in report on Monday, June 11 with “Neutral” rating. The stock has “Buy” rating by UBS on Monday, August 6. Morgan Stanley maintained Devon Energy Corporation (NYSE:DVN) on Thursday, August 16 with “Equal-Weight” rating. The stock of Devon Energy Corporation (NYSE:DVN) has “Buy” rating given on Monday, April 23 by Stifel Nicolaus. Stephens maintained the stock with “Buy” rating in Tuesday, April 24 report. Scotia Capital downgraded the stock to “Buy” rating in Thursday, April 12 report. The rating was maintained by Morgan Stanley on Wednesday, September 26 with “Equal-Weight”.

Another recent and important Devon Energy Corporation (NYSE:DVN) news was published by Fool.com which published an article titled: “This Oil Company Is Buying Back Its Stock as Fast as It Can” on September 17, 2018.

Devon Energy Corporation (NYSE:DVN) Institutional Positions Chart

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