Mizuho Securities USA LLC Grows Position in Devon Energy Co. (NYSE:DVN)

Mizuho Securities USA LLC grew its stake in Devon Energy Co. (NYSE:DVN) by 53.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,259 shares of the energy company’s stock after acquiring 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 quarter.

Other large investors have also made changes to their positions in the company. EnCap Energy Capital Fund XI L.P. acquired a new position in Devon Energy in the 3rd quarter valued at about $461,857,000. EnCap Partners GP LLC purchased a new position in shares of Devon Energy during the third quarter valued at approximately $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new stake in Devon Energy during the third quarter worth approximately $230,928,000. Raymond James Financial Inc. purchased a new stake in Devon Energy in the 4th quarter worth approximately $154,170,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Devon Energy by 90.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,724,407 shares of the energy company’s stock valued at $89,170,000 after acquiring an additional 1,296,590 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Up 2.3 %

NYSE DVN opened at $36.97 on Tuesday. The company’s fifty day simple moving average is $35.46 and its 200-day simple moving average is $36.95. The stock has a market cap of $24.00 billion, a P/E ratio of 8.11, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Equities research analysts predict that Devon Energy Co. will post 4.85 EPS 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. Investors of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DVN shares. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Wednesday, January 15th. JPMorgan Chase & Co. lowered their price target on Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Benchmark reiterated a “buy” rating and set a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Truist Financial upped their price target on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.46.

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.