MUFG Securities EMEA plc Increases Position in Devon Energy Corporation $DVN

Key Points

• MUFG Securities EMEA plc dramatically increased its Devon Energy stake by 7,667.4% in the fourth quarter, ending with 943,817 shares valued at about $34.6 million.
• Several other institutional investors also boosted their holdings, and overall 69.72% of Devon Energy is owned by hedge funds and other institutional investors.
• Devon Energy recently raised its quarterly dividend to $0.32 per share, while analysts remain generally constructive with a Moderate Buy consensus and an average price target of $57.85.

MUFG Securities EMEA plc raised its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 7,667.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 943,817 shares of the energy company's stock after purchasing an additional 931,666 shares during the period. MUFG Securities EMEA plc owned 0.15% of Devon Energy worth $34,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of DVN. Woodline Partners LP increased its position in shares of Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company's stock valued at $4,330,000 after purchasing an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Devon Energy in the 2nd quarter valued at approximately $403,000. Jump Financial LLC increased its position in shares of Devon Energy by 58.8% in the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company's stock valued at $899,000 after purchasing an additional 10,464 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Devon Energy by 17.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company's stock valued at $4,736,000 after purchasing an additional 22,482 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Devon Energy by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company's stock valued at $4,586,000 after purchasing an additional 8,127 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Jeffrey L. Ritenour sold 70,029 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the completion of the sale, the executive vice president owned 428,452 shares in the company, valued at $19,991,570.32. This represents a 14.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the sale, the senior vice president owned 130,540 shares of the company's stock, valued at approximately $6,162,793.40. This represents a 15.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DVN has been the topic of a number of recent analyst reports. Evercore began coverage on shares of Devon Energy in a research report on Friday, May 15th. They issued an "in-line" rating and a $54.00 price objective on the stock. Argus increased their target price on shares of Devon Energy from $41.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Sanford C. Bernstein increased their target price on shares of Devon Energy from $42.00 to $59.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. Wolfe Research increased their target price on shares of Devon Energy from $64.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Finally, Wells Fargo & Company increased their target price on shares of Devon Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $57.85.

Devon Energy Stock Up 1.0%

Shares of NYSE:DVN opened at $44.54 on Friday. The stock has a market cap of $27.68 billion, a P/E ratio of 12.41 and a beta of 0.43. The firm has a fifty day moving average price of $47.96 and a 200 day moving average price of $42.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. Devon Energy Corporation has a 1-year low of $30.24 and a 1-year high of $52.71.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.02). The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The firm's revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. Sell-side analysts predict that Devon Energy Corporation will post 4.24 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.9%. This is an increase from Devon Energy's previous quarterly dividend of $0.24. Devon Energy's dividend payout ratio (DPR) is currently 26.74%.

More Devon Energy News

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Reuters reported that Devon Energy has received a roughly $8 billion offer for its Marcellus shale assets from Stone Ridge Asset Management, a deal that could unlock significant value and give the company flexibility to reshape its portfolio.
• Positive Sentiment: Zacks Research raised its earnings estimates for Devon Energy across several periods, including FY2026 to $4.39 per share, FY2027 to $4.43, and FY2028 to $4.82, suggesting a stronger long-term earnings outlook.
• Positive Sentiment: Citi recently lifted its price target on Devon Energy to $65 from $60 while keeping a Buy rating, indicating at least some analysts still see upside from current levels. Article: Citi Raises its Price Target on Devon Energy (DVN)
• Neutral Sentiment: Zacks Research maintained a Hold rating despite the higher estimates, so the upgrade in earnings forecasts was not paired with a more bullish stock recommendation.
• Negative Sentiment: Devon was downgraded by Zacks Research from Strong Buy to Hold, which may have added to near-term caution around the shares.

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.

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