SG Americas Securities LLC lifted its stake in Devon Energy Co. (NYSE:DVN – Free Report) by 247.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,589 shares of the energy company’s stock after acquiring an additional 33,182 shares during the quarter. SG Americas Securities LLC’s holdings in Devon Energy were worth $2,252,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Simplicity Solutions LLC increased its position in shares of Devon Energy by 247.3% in the first quarter. Simplicity Solutions LLC now owns 30,114 shares of the energy company’s stock valued at $1,524,000 after acquiring an additional 21,442 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Devon Energy by 9.8% in the first quarter. ProShare Advisors LLC now owns 183,900 shares of the energy company’s stock valued at $9,307,000 after acquiring an additional 16,361 shares during the last quarter. Clear Creek Financial Management LLC increased its position in Devon Energy by 6.7% during the first quarter. Clear Creek Financial Management LLC now owns 8,656 shares of the energy company’s stock worth $438,000 after buying an additional 546 shares during the last quarter. VitalStone Financial LLC increased its position in Devon Energy by 615.7% during the first quarter. VitalStone Financial LLC now owns 30,632 shares of the energy company’s stock worth $1,354,000 after buying an additional 26,352 shares during the last quarter. Finally, Aviva PLC increased its position in Devon Energy by 23.4% during the fourth quarter. Aviva PLC now owns 368,272 shares of the energy company’s stock worth $16,394,000 after buying an additional 69,819 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.
Devon Energy Trading Down 2.3 %
Shares of DVN stock opened at $47.88 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. The stock has a market cap of $30.68 billion, a P/E ratio of 6.55, a price-to-earnings-growth ratio of 0.17 and a beta of 2.34. The stock has a 50 day simple moving average of $50.96 and a 200 day simple moving average of $50.36. Devon Energy Co. has a 1 year low of $44.03 and a 1 year high of $78.82.
Devon Energy Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.09%. The ex-dividend date is Thursday, September 14th. Devon Energy’s payout ratio is presently 10.94%.
Insiders Place Their Bets
In other Devon Energy news, EVP Dennis C. Cameron sold 7,870 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $51.13, for a total transaction of $402,393.10. Following the completion of the sale, the executive vice president now directly owns 210,548 shares in the company, valued at $10,765,319.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.63% of the company’s stock.
Analyst Ratings Changes
DVN has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on Devon Energy from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 18th. Evercore ISI lowered their price target on Devon Energy from $52.00 to $50.00 in a research report on Monday, July 10th. Raymond James lowered their price target on Devon Energy from $70.00 to $62.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 24th. Royal Bank of Canada decreased their target price on Devon Energy from $63.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 13th. Finally, Mizuho upped their target price on Devon Energy from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Monday. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $63.22.
View Our Latest Stock Report on DVN
Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
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