SG Americas Securities LLC Boosts Stock Position in Devon Energy Corporation $DVN

Key Points

• SG Americas Securities LLC boosted its stake in Devon Energy by 446.7% in Q4, purchasing 1,010,170 shares to hold 1,236,301 shares worth about $45.29 million (≈0.20% of the company).
• Devon announced a quarterly dividend of $0.24 per share (annualized $0.96), with an ex-dividend date of March 13 and payment on March 31, implying a yield of about 1.9% and a payout ratio near 23%.
• Analysts have been raising targets and sentiment is positive: the consensus rating is a “Moderate Buy” (24 Buys, 7 Holds) with a MarketBeat consensus price target of $49.86.

SG Americas Securities LLC boosted its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 446.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 owned about 0.20% of Devon Energy worth $45,286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DVN. Caldwell Trust Co purchased a new position in shares of Devon Energy during the second quarter valued at approximately $25,000. PFS Partners LLC purchased a new stake in Devon Energy in the third quarter worth $25,000. First Horizon Corp bought a new stake in Devon Energy in the third quarter valued at $26,000. Accredited Wealth Management LLC boosted its holdings in Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company's stock valued at $28,000 after acquiring an additional 308 shares in the last quarter. Finally, Ameriflex Group Inc. increased its position in Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company's stock valued at $28,000 after purchasing an additional 702 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $50.32 on Wednesday. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $50.71. The firm 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 current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $43.03 and a two-hundred day simple moving average of $37.88.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the prior year, the firm earned $1.10 EPS. The company's revenue was down 6.4% compared to the same quarter last year. On average, equities analysts forecast 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. Shareholders of record on Friday, March 13th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.9%. Devon Energy's dividend payout ratio (DPR) is currently 23.02%.

Analysts Set New Price Targets

DVN has been the subject of several research reports. BMO Capital Markets upped their price objective on shares of Devon Energy from $45.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday, March 3rd. Susquehanna lifted their target price on shares of Devon Energy from $47.00 to $52.00 and gave the company a "positive" rating in a research note on Friday, February 20th. Barclays boosted their price target on shares of Devon Energy from $52.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, March 16th. 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 note on Wednesday, December 17th. Finally, Johnson Rice lowered their price objective on shares of Devon Energy from $70.00 to $62.00 and set a "buy" rating for the company in a report on Friday, December 5th. Twenty-four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.86.

About Devon Energy

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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