Mufg Securities Americas Inc. Raises Position in Devon Energy Corporation $DVN

Mufg Securities Americas Inc. increased its stake in Devon Energy Corporation (NYSE:DVN) by 102.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,725 shares of the energy company’s stock after purchasing an additional 17,562 shares during the quarter. Mufg Securities Americas Inc.’s holdings in Devon Energy were worth $1,435,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Devon Energy during the fourth quarter valued at $25,000. JFS Wealth Advisors LLC raised its stake in shares of Devon Energy by 56.6% in the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after buying an additional 245 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Devon Energy in the second quarter valued at $28,000. MV Capital Management Inc. purchased a new position in shares of Devon Energy during the 4th quarter valued at $29,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in shares of Devon Energy during the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DVN shares. Capital One Financial cut their target price on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday, June 2nd. Barclays dropped their price target on shares of Devon Energy from $62.00 to $58.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Wells Fargo & Company cut their price objective on shares of Devon Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. UBS Group reduced their price objective on shares of Devon Energy from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Raymond James Financial lowered their target price on shares of Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.15.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $47.42 on Friday. The company has a 50 day moving average of $44.19 and a 200 day moving average of $45.62. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. The stock has a market cap of $52.16 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.30 and a beta of 0.38. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business had revenue of $7.42 billion for the quarter, compared to analysts’ expectations of $6.01 billion. During the same period in the prior year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 73.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Devon Energy Corporation will post 5.2 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.7%. Devon Energy’s dividend payout ratio is presently 30.40%.

Insider Activity

In related news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.58% of the company’s stock.

Devon Energy Profile

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.