SG Americas Securities LLC Acquires 205,506 Shares of Devon Energy Corporation $DVN

SG Americas Securities LLC grew its holdings in Devon Energy Corporation (NYSE:DVN) by 996.4% in the third quarter, according to its most recent filing 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.

Several other hedge funds have also recently made changes to their positions in the business. PFS Partners LLC bought a new position in shares of Devon Energy in the 3rd quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in Devon Energy during the second quarter worth approximately $25,000. Caldwell Trust Co bought a new stake in shares of Devon Energy in the 2nd quarter valued at approximately $25,000. Trust Co. of Vermont lifted its stake in shares of Devon Energy by 241.3% in the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after purchasing an additional 666 shares during the last quarter. Finally, American National Bank & Trust boosted its holdings in shares of Devon Energy by 2,638.9% in the 3rd quarter. American National Bank & Trust now owns 986 shares of the energy company’s stock worth $35,000 after purchasing an additional 950 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DVN shares. Mizuho increased their price target on Devon Energy from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Argus upgraded shares of Devon Energy to a “strong-buy” rating in a research report on Wednesday, November 26th. Morgan Stanley increased their target price on shares of Devon Energy from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, December 11th. Scotiabank restated an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. Finally, Citigroup lifted their price target on shares of Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Devon Energy has an average rating of “Moderate Buy” and an average target price of $44.62.

Devon Energy Stock Down 0.9%

NYSE:DVN opened at $35.76 on Friday. The company has a market cap of $22.43 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 2.96 and a beta of 0.60. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $38.88. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $35.96 and a 200-day simple moving average of $34.51.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The company had revenue of $0.00 million for the quarter, compared to the consensus estimate of $4.10 billion. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. During the same quarter last year, the firm posted $1.10 EPS. Analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

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

Devon Energy Company 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.