Devon Energy Corporation $DVN Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 752,028 shares of the energy company’s stock after purchasing an additional 59,605 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Devon Energy were worth $26,366,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Caldwell Trust Co bought a new position in shares of Devon Energy in the second quarter valued at $25,000. PFS Partners LLC purchased a new stake in shares of Devon Energy during the third quarter valued at $25,000. First Horizon Corp purchased a new position in Devon Energy in the 3rd quarter worth about $26,000. Trust Co. of Vermont increased its position in shares of 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 acquiring an additional 666 shares in the last quarter. Finally, ORG Partners LLC grew its position in Devon Energy by 65.7% during the 3rd quarter. ORG Partners LLC now owns 888 shares of the energy company’s stock worth $31,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Down 0.0%

DVN opened at $38.63 on Tuesday. The company has a market capitalization of $24.23 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 3.50 and a beta of 0.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $39.38. The business has a 50-day moving average of $36.64 and a 200-day moving average of $34.84.

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

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were issued a dividend of $0.24 per share. The ex-dividend date was Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.5%. Devon Energy’s dividend payout ratio (DPR) is currently 22.59%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Roth Mkm reissued a “buy” rating and set a $42.00 price target on shares of Devon Energy in a research report on Wednesday, December 31st. Argus upgraded Devon Energy to a “strong-buy” rating in a report on Wednesday, November 26th. Citigroup increased their price target on shares of Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Johnson Rice lowered their price objective on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, December 5th. Finally, Mizuho increased their target price on shares of Devon Energy from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.55.

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.