Devon Energy Co. (NYSE:DVN) Position Increased by Mizuho Securities USA LLC

Mizuho Securities USA LLC raised its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 53.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,259 shares of the energy company's stock after purchasing an additional 21,653 shares during the quarter. Mizuho Securities USA LLC's holdings in Devon Energy were worth $2,038,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DVN. Cromwell Holdings LLC boosted its position in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Devon Energy in the fourth quarter valued at $43,000. True Wealth Design LLC raised its stake in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock worth $44,000 after buying an additional 1,089 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new stake in shares of Devon Energy in the 4th quarter worth about $52,000. Finally, Thompson Investment Management Inc. increased its holdings in Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock valued at $52,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analyst Ratings Changes

DVN has been the subject of several research reports. Citigroup cut their price objective on Devon Energy from $48.00 to $46.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Barclays boosted their target price on shares of Devon Energy from $43.00 to $44.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. 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 note on Wednesday, January 15th. Cowen downgraded shares of Devon Energy to a "hold" rating and lowered their price target for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.46.

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Devon Energy Price Performance

Shares of NYSE DVN remained flat at $36.96 during mid-day trading on Tuesday. The stock had a trading volume of 5,932,880 shares, compared to its average volume of 7,852,756. The business's 50-day moving average is $35.46 and its 200 day moving average is $36.95. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The firm has a market cap of $23.99 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio (DPR) is 21.05%.

Devon Energy Company 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.