Mufg Securities Americas Inc. Acquires New Shares in Devon Energy Co. (NYSE:DVN)

Mufg Securities Americas Inc. acquired a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,697 shares of the energy company's stock, valued at approximately $317,000.

A number of other large investors have also added to or reduced their stakes in the stock. Hurley Capital LLC bought a new position in Devon Energy during the 4th quarter valued at about $26,000. Accredited Wealth Management LLC bought a new position in Devon Energy during the 4th quarter valued at about $28,000. Cromwell Holdings LLC increased its position in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Devon Energy during the fourth quarter valued at $43,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in Devon Energy during the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Trading Down 1.7%

DVN stock traded down $0.54 during mid-day trading on Tuesday, reaching $32.15. 6,260,730 shares of the stock traded hands, compared to its average volume of 8,605,746. The business has a 50-day moving average price of $32.46 and a two-hundred day moving average price of $34.48. The stock has a market capitalization of $20.64 billion, a PE ratio of 7.05, a PEG ratio of 1.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a one year low of $25.89 and a one year high of $50.24.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business's revenue for the quarter was up 23.8% on a year-over-year basis. Equities research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.24 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.99%. Devon Energy's payout ratio is 21.87%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DVN. Wells Fargo & Company upped their price objective on Devon Energy from $44.00 to $46.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Raymond James set a $40.00 price target on Devon Energy in a report on Monday, April 21st. Bank of America lowered their price target on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Williams Trading set a $50.00 price objective on shares of Devon Energy in a research note on Wednesday, March 5th. Finally, Scotiabank decreased their price objective on shares of Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.83.

About Devon Energy

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.