Cwm LLC Purchases 138,717 Shares of Devon Energy Corporation $DVN

Cwm LLC increased its position in shares of Devon Energy Corporation (NYSE:DVN) by 70.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 336,861 shares of the energy company’s stock after buying an additional 138,717 shares during the period. Cwm LLC owned about 0.05% of Devon Energy worth $11,810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Devon Energy by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 18,595,683 shares of the energy company’s stock worth $589,399,000 after acquiring an additional 218,034 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Devon Energy by 78.7% in the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after purchasing an additional 2,802,137 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Devon Energy by 1.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,784,270 shares of the energy company’s stock worth $152,188,000 after purchasing an additional 77,433 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Devon Energy by 83.9% during the second quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock valued at $145,311,000 after purchasing an additional 2,083,600 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Devon Energy by 3.7% during the second quarter. Legal & General Group Plc now owns 3,179,937 shares of the energy company’s stock valued at $101,154,000 after purchasing an additional 112,537 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Mizuho boosted their price objective on shares of Devon Energy from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. UBS Group raised Devon Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 12th. Scotiabank restated an “outperform” rating on shares of Devon Energy in a research note on Thursday, October 9th. BMO Capital Markets cut their target price on Devon Energy from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Devon Energy in a report on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $44.86.

Devon Energy Stock Down 1.4%

Shares of DVN stock opened at $35.70 on Monday. The stock’s fifty day moving average price is $35.19 and its 200 day moving average price is $34.37. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $38.88. The company has a market cap of $22.39 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 2.71 and a beta of 0.62. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The company had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the business posted $1.10 earnings per share. On average, research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $0.24 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. Devon Energy’s dividend payout ratio (DPR) is 22.59%.

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.