SG Americas Securities LLC Increases Stock Position in Devon Energy Corporation $DVN

SG Americas Securities LLC increased its holdings in Devon Energy Corporation (NYSE:DVN) by 996.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,131 shares of the energy company’s stock after buying an additional 205,506 shares during the period. SG Americas Securities LLC’s holdings in Devon Energy were worth $7,928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in DVN. Opal Wealth Advisors LLC purchased a new position in Devon Energy in the second quarter valued at about $25,000. Caldwell Trust Co bought a new position in shares of Devon Energy during the 2nd quarter worth approximately $25,000. PFS Partners LLC acquired a new stake in Devon Energy in the third quarter valued at approximately $25,000. Trust Co. of Vermont grew its holdings in Devon Energy by 241.3% in the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after purchasing an additional 666 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of Devon Energy during the second quarter worth $34,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Evercore ISI upped their target price on Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a research report on Monday, October 6th. Mizuho increased their price objective on shares of Devon Energy from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Capital One Financial cut their price target on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Devon Energy in a research note on Monday, December 29th. Finally, UBS Group upgraded Devon Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $40.00 to $46.00 in a research note on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.62.

Devon Energy Stock Down 0.9%

Shares of DVN opened at $35.76 on Friday. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 2.96 and a beta of 0.60. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $38.88. The stock’s 50-day moving average price is $35.96 and its 200-day moving average price is $34.51. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The company had revenue of $0.00 million during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the company posted $1.10 earnings per share. On average, sell-side analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, December 15th. Devon Energy’s dividend payout ratio is presently 22.59%.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.