Devon Energy Corporation $DVN Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of Devon Energy Corporation (NYSE:DVN) by 6.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,154,888 shares of the energy company’s stock after selling 81,413 shares during the quarter. SG Americas Securities LLC’s holdings in Devon Energy were worth $58,114,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DVN. Woodline Partners LP lifted its stake in Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after buying an additional 57,555 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Devon Energy during the 2nd quarter worth approximately $403,000. Jump Financial LLC raised its holdings in shares of Devon Energy by 58.8% during the second quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock valued at $899,000 after acquiring an additional 10,464 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Devon Energy by 17.8% during the second quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock valued at $4,736,000 after acquiring an additional 22,482 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Devon Energy by 6.0% during the second quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock valued at $4,586,000 after acquiring an additional 8,127 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN stock opened at $43.03 on Tuesday. Devon Energy Corporation has a 1 year low of $31.45 and a 1 year high of $52.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The firm has a market capitalization of $26.74 billion, a PE ratio of 11.99 and a beta of 0.38. The business has a 50 day simple moving average of $46.28 and a 200-day simple moving average of $43.39.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The business’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. Equities research analysts anticipate that Devon Energy Corporation will post 4.97 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, June 15th. Devon Energy’s payout ratio is presently 35.65%.

Insider Activity

In related news, SVP Adam M. Vela sold 24,342 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the transaction, the senior vice president directly owned 130,540 shares in the company, valued at approximately $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the transaction, the executive vice president directly owned 428,452 shares in the company, valued at approximately $19,991,570.32. This trade represents a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 112,371 shares of company stock valued at $5,258,059. 4.58% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research analyst reports. Mizuho lifted their price target on Devon Energy from $62.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. BMO Capital Markets reissued an “outperform” rating on shares of Devon Energy in a research note on Wednesday, June 10th. Jefferies Financial Group lifted their target price on shares of Devon Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Tudor Pickering raised shares of Devon Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Finally, Citigroup increased their target price on shares of Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $58.52.

Devon Energy Profile

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.