Devon Energy Corporation $DVN Stock Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lifted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 229.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 680,720 shares of the energy company’s stock after acquiring an additional 474,219 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.06% of Devon Energy worth $31,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DVN. Morningstar Investment Management LLC grew its stake in Devon Energy by 51.1% in the 1st quarter. Morningstar Investment Management LLC now owns 86,151 shares of the energy company’s stock valued at $4,335,000 after buying an additional 29,124 shares during the last quarter. Artemis Investment Management LLP raised its holdings in Devon Energy by 103.8% in the 3rd quarter. Artemis Investment Management LLP now owns 1,465,225 shares of the energy company’s stock valued at $67,459,000 after acquiring an additional 746,360 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Devon Energy in the 2nd quarter valued at about $33,504,000. Illinois Municipal Retirement Fund lifted its position in Devon Energy by 15.5% during the first quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock worth $9,801,000 after acquiring an additional 26,209 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its position in Devon Energy by 20.0% during the first quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock worth $24,138,000 after acquiring an additional 80,000 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Insider Activity at Devon Energy

In other news, EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $50.95, for a total value of $344,218.20. Following the completion of the sale, the executive vice president directly owned 72,720 shares in the company, valued at approximately $3,705,084. The trade was a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Clay Gaspar purchased 3,913 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was acquired at an average price of $51.08 per share, with a total value of $199,876.04. Following the completion of the transaction, the chief executive officer owned 619,152 shares of the company’s stock, valued at $31,626,284.16. This represents a 0.64% increase in their position. The disclosure for this purchase is available in the SEC filing. 4.58% of the stock is currently owned by company insiders.

Devon Energy Price Performance

NYSE:DVN opened at $44.95 on Thursday. Devon Energy Corporation has a 52 week low of $34.23 and a 52 week high of $52.71. The firm has a market cap of $51.24 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.11 and a beta of 0.43. The firm’s 50-day simple moving average is $48.36 and its 200 day simple moving average is $46.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.70.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Thursday, November 5th. The energy company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.09. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.57 billion. Devon Energy had a net margin of 16.22% and a return on equity of 14.86%. The business’s revenue was up 66.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 EPS. As a group, sell-side analysts predict that Devon Energy Corporation will post 5.57 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.8%. Devon Energy’s dividend payout ratio (DPR) is currently 32.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Devon Energy from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Monday. Wells Fargo & Company lowered their target price on Devon Energy from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, September 28th. BMO Capital Markets reissued an “outperform” rating and set a $67.00 price target on shares of Devon Energy in a report on Tuesday, October 6th. Citigroup boosted their price target on Devon Energy from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Finally, Scotiabank started coverage on Devon Energy in a research note on Wednesday, October 14th. They issued a “sector outperform” rating and a $61.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.49.

Devon Energy Profile

Devon Energy Corporation is an independent energy company focused on exploring for and producing oil, natural gas and natural gas liquids. Its activities include developing and operating producing properties and managing the infrastructure needed to bring its products to market. Founded in 1971, Devon is headquartered in Oklahoma City. Its operations are concentrated in U.S. onshore basins, including the Delaware Basin, Eagle Ford, Anadarko, Williston and Powder River basins. The company’s portfolio has evolved through acquisitions and asset sales over its history.