Daiwa Securities Group Inc. Has $2.74 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Daiwa Securities Group Inc. lessened its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,793 shares of the energy company's stock after selling 8,907 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Devon Energy were worth $2,743,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DVN. Sfmg LLC raised its holdings in Devon Energy by 0.5% during the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company's stock worth $2,538,000 after purchasing an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC grew its position in shares of Devon Energy by 3.9% during the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock worth $266,000 after buying an additional 309 shares during the period. Cornerstone Wealth Management LLC raised its stake in shares of Devon Energy by 1.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock worth $695,000 after buying an additional 326 shares during the last quarter. Annex Advisory Services LLC boosted its stake in Devon Energy by 1.2% in the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock valued at $884,000 after acquiring an additional 327 shares during the last quarter. Finally, Fiduciary Trust Co raised its position in shares of Devon Energy by 3.1% during the 3rd quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company's stock valued at $433,000 after acquiring an additional 329 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DVN shares. Citigroup lowered Devon Energy from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Piper Sandler upped their target price on shares of Devon Energy from $54.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Sanford C. Bernstein raised shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a research report on Wednesday, January 15th. Mizuho lowered their price objective on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Finally, Raymond James reduced their target price on Devon Energy from $54.00 to $46.00 and set an "outperform" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and an average price target of $48.54.

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Devon Energy Trading Down 2.8 %

Devon Energy stock opened at $33.79 on Friday. The company has a market cap of $21.93 billion, a price-to-earnings ratio of 7.41, a P/E/G ratio of 1.20 and a beta of 1.91. The firm has a 50-day moving average of $35.36 and a 200-day moving average of $37.47. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, equities analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's payout ratio is 21.05%.

Devon Energy Profile

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.

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