Devon Energy Corporation $DVN Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Devon Energy Corporation (NYSE:DVN) by 8.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 752,028 shares of the energy company’s stock after buying an additional 59,605 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.12% of Devon Energy worth $26,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DVN. Woodline Partners LP raised its holdings in shares of Devon Energy by 98.8% during the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after purchasing an additional 57,555 shares during the period. Sivia Capital Partners LLC bought a new position in Devon Energy in the second quarter worth about $403,000. Park Avenue Securities LLC boosted its stake in Devon Energy by 13.5% in the second quarter. Park Avenue Securities LLC now owns 16,574 shares of the energy company’s stock valued at $527,000 after acquiring an additional 1,970 shares during the period. TD Private Client Wealth LLC raised its position in shares of Devon Energy by 31.6% during the 2nd quarter. TD Private Client Wealth LLC now owns 6,448 shares of the energy company’s stock worth $205,000 after purchasing an additional 1,549 shares during the period. Finally, Perigon Wealth Management LLC boosted its position in Devon Energy by 10.9% during the 2nd quarter. Perigon Wealth Management LLC now owns 6,937 shares of the energy company’s stock valued at $221,000 after purchasing an additional 682 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Down 0.0%

Shares of NYSE:DVN opened at $38.63 on Tuesday. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $39.38. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The firm has a market cap of $24.23 billion, a P/E ratio of 9.09, a P/E/G ratio of 3.50 and a beta of 0.60. The company has a 50 day moving average of $36.64 and a 200-day moving average of $34.84.

Devon Energy (NYSE:DVN) last announced its earnings results on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The firm had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same quarter in the previous year, the company earned $1.10 earnings per share. As a group, analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.96 annualized dividend and a yield of 2.5%. Devon Energy’s dividend payout ratio (DPR) is currently 22.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company cut their target price on Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Mizuho lifted their price objective on shares of Devon Energy from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Morgan Stanley dropped their price target on shares of Devon Energy from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday. BMO Capital Markets reduced their price objective on Devon Energy from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. Finally, Siebert Williams Shank raised their target price on Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.55.

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.