Mufg Securities Americas Inc. Buys 17,562 Shares of Devon Energy Corporation $DVN

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Tobam increased its stake in Devon Energy by 16.4% in the fourth quarter. Tobam now owns 1,633 shares of the energy company’s stock valued at $60,000 after purchasing an additional 230 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of Devon Energy by 3.4% during the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after purchasing an additional 236 shares in the last quarter. Retirement Planning Group LLC grew its stake in shares of Devon Energy by 4.5% in the 2nd quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock valued at $233,000 after buying an additional 243 shares during the period. JFS Wealth Advisors LLC increased its position in Devon Energy by 56.6% in the 2nd 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 in the last quarter. Finally, Catalyst Financial Partners LLC increased its position in Devon Energy by 3.9% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after buying an additional 254 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Jefferies Financial Group increased their price target on Devon Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Raymond James Financial decreased their price objective on Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating for the company in a report on Thursday, July 16th. UBS Group cut their target price on Devon Energy from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Mizuho lifted their price target on shares of Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group decreased their price target on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Two 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.15.

Devon Energy Price Performance

DVN opened at $47.42 on Friday. Devon Energy Corporation has a 1 year low of $31.47 and a 1 year high of $52.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. The company has a market capitalization of $52.16 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.30 and a beta of 0.38. The firm’s fifty day moving average price is $44.19 and its two-hundred day moving average price is $45.62.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, beating 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 company had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The firm’s revenue for the quarter was up 73.1% on a year-over-year basis. As a group, analysts anticipate that Devon Energy Corporation will post 5.2 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

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

Insider Activity at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the sale, the senior vice president directly owned 138,529 shares in the company, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.58% of the stock is owned by insiders.

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.