Mitsubishi UFJ Trust & Banking Corp Has $24.81 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Devon Energy Co. (NYSE:DVN) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 758,054 shares of the energy company’s stock after buying an additional 54,349 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Devon Energy were worth $24,811,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DVN. Cromwell Holdings LLC raised its holdings in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after acquiring an additional 598 shares during the period. Sierra Ocean LLC acquired a new stake in Devon Energy during the 4th quarter valued at $43,000. True Wealth Design LLC lifted its holdings in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new stake in shares of Devon Energy in the fourth quarter worth $52,000. Finally, Thompson Investment Management Inc. grew its holdings in shares of Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock valued at $52,000 after buying an additional 600 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DVN has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Barclays raised their price target on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Mizuho dropped their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Benchmark restated a “buy” rating and set a $44.00 price target on shares of Devon Energy in a report on Thursday, February 20th. Finally, Citigroup dropped their price target on shares of Devon Energy from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.29.

Devon Energy Price Performance

NYSE DVN opened at $36.95 on Friday. The stock has a market capitalization of $23.98 billion, a PE ratio of 8.10, a P/E/G ratio of 1.20 and a beta of 1.91. The stock has a 50-day simple moving average of $35.41 and a 200 day simple moving average of $36.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business 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 $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.60%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is currently 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.