SG Americas Securities LLC Buys 1,010,170 Shares of Devon Energy Corporation $DVN

SG Americas Securities LLC increased its position in Devon Energy Corporation (NYSE:DVN) by 446.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,236,301 shares of the energy company’s stock after purchasing an additional 1,010,170 shares during the period. SG Americas Securities LLC’s holdings in Devon Energy were worth $45,286,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Caldwell Trust Co bought a new position in shares of Devon Energy during the second quarter valued at $25,000. PFS Partners LLC purchased a new position in shares of Devon Energy in the 3rd quarter worth $25,000. First Horizon Corp purchased a new position in shares of Devon Energy in the 3rd quarter worth $26,000. Accredited Wealth Management LLC grew its holdings in shares of Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after acquiring an additional 308 shares during the period. Finally, Ameriflex Group Inc. grew its holdings in shares of Devon Energy by 702.0% in the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after acquiring an additional 702 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Trading Up 3.8%

Shares of Devon Energy stock opened at $50.32 on Wednesday. The company has a market capitalization of $31.20 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.28 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. The company has a fifty day moving average of $43.03 and a 200 day moving average of $37.88. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $50.71.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same period last year, the firm earned $1.10 earnings per share. The business’s quarterly revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, March 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.9%. Devon Energy’s dividend payout ratio (DPR) is currently 23.02%.

Analyst Ratings Changes

DVN has been the topic of a number of recent research reports. Roth Mkm reissued a “buy” rating and issued a $50.00 target price on shares of Devon Energy in a report on Thursday, February 19th. UBS Group upped their price target on shares of Devon Energy from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. Wells Fargo & Company raised their price objective on shares of Devon Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Finally, TD Cowen boosted their target price on shares of Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, March 17th. Twenty-four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average target price of $49.86.

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.