Western Wealth Management LLC Buys 499 Shares of Devon Energy Co. (NYSE:DVN)

Western Wealth Management LLC raised its stake in Devon Energy Co. (NYSE:DVN) by 6.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,663 shares of the energy company’s stock after acquiring an additional 499 shares during the period. Western Wealth Management LLC’s holdings in Devon Energy were worth $392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DVN. Xponance Inc. grew its holdings in Devon Energy by 20.9% in the 4th quarter. Xponance Inc. now owns 123,997 shares of the energy company’s stock worth $5,617,000 after acquiring an additional 21,410 shares during the last quarter. AIA Group Ltd purchased a new position in Devon Energy during the 4th quarter valued at about $495,000. Smead Capital Management Inc. raised its position in Devon Energy by 16.7% during the 4th quarter. Smead Capital Management Inc. now owns 3,811,292 shares of the energy company’s stock valued at $172,652,000 after purchasing an additional 546,433 shares during the last quarter. Twin Capital Management Inc. bought a new stake in shares of Devon Energy in the 4th quarter worth approximately $907,000. Finally, CapWealth Advisors LLC increased its stake in shares of Devon Energy by 27.1% during the fourth quarter. CapWealth Advisors LLC now owns 370,419 shares of the energy company’s stock valued at $16,780,000 after buying an additional 79,090 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 0.8 %

Shares of NYSE DVN opened at $51.83 on Monday. The firm’s 50 day moving average price is $47.89 and its 200-day moving average price is $45.92. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. The company has a market cap of $32.91 billion, a PE ratio of 8.89 and a beta of 2.19.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same period in the previous year, the business earned $1.66 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts expect that Devon Energy Co. will post 5.14 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 3.40%. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Ratings Changes

A number of brokerages recently commented on DVN. Citigroup raised their price target on Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Barclays began coverage on shares of Devon Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Truist Financial decreased their target price on Devon Energy from $69.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, Scotiabank lifted their price target on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.94.

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.