MUFG Securities EMEA plc Invests $6.80 Million in Devon Energy Co. (NYSE:DVN)

MUFG Securities EMEA plc purchased a new stake in Devon Energy Co. (NYSE:DVNFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 150,000 shares of the energy company’s stock, valued at approximately $6,795,000.

Several other large investors have also recently made changes to their positions in DVN. Pacer Advisors Inc. increased its position in shares of Devon Energy by 1,279.7% during the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock valued at $278,396,000 after purchasing an additional 5,700,167 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Devon Energy during the 3rd quarter valued at $113,793,000. Morgan Stanley increased its position in shares of Devon Energy by 23.6% during the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after purchasing an additional 2,220,194 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Devon Energy by 3,885.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock valued at $76,793,000 after purchasing an additional 1,652,671 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Devon Energy by 26.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock valued at $320,609,000 after purchasing an additional 1,488,374 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DVN. Scotiabank increased their price target on Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Mizuho raised their target price on Devon Energy from $57.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Truist Financial cut their target price on Devon Energy from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Piper Sandler raised their target price on Devon Energy from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Finally, UBS Group raised their price target on Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $58.83.

View Our Latest Stock Analysis on Devon Energy

Devon Energy Stock Down 0.2 %

Devon Energy stock traded down $0.08 during mid-day trading on Friday, hitting $48.15. The company had a trading volume of 4,039,375 shares, compared to its average volume of 5,924,975. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The stock’s 50 day moving average price is $50.87 and its two-hundred day moving average price is $46.55. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $30.43 billion, a PE ratio of 9.19 and a beta of 2.15.

Devon Energy (NYSE:DVNGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.06. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The company’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. As a group, sell-side analysts anticipate that Devon Energy Co. will post 5.21 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Insider Activity at Devon Energy

In other news, EVP Tana K. Cashion sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the transaction, the executive vice president now owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.63% of the stock is owned by company insiders.

Devon Energy Profile

(Free Report)

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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