CWA Asset Management Group LLC Has $2.26 Million Stake in Devon Energy Corporation $DVN

CWA Asset Management Group LLC raised its position in Devon Energy Corporation (NYSE:DVN) by 612.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,786 shares of the energy company’s stock after buying an additional 53,113 shares during the quarter. CWA Asset Management Group LLC’s holdings in Devon Energy were worth $2,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Caldwell Trust Co acquired a new stake in shares of Devon Energy during the 2nd quarter worth approximately $25,000. PFS Partners LLC bought a new position in Devon Energy in the third quarter valued at approximately $25,000. First Horizon Corp acquired a new position in Devon Energy during the third quarter valued at approximately $26,000. Accredited Wealth Management LLC raised its position in Devon Energy by 61.6% during the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after purchasing an additional 308 shares in the last quarter. Finally, Ameriflex Group Inc. lifted its stake in Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after purchasing an additional 702 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 target price on shares of Devon Energy in a report on Thursday, February 19th. Scotiabank dropped their price objective on Devon Energy from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Monday, February 23rd. Susquehanna raised their price objective on Devon Energy from $47.00 to $52.00 and gave the company a “positive” rating in a research note on Friday, February 20th. Raymond James Financial lifted their target price on Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Finally, Benchmark reissued a “buy” rating on shares of Devon Energy in a research note on Friday, January 16th. Twenty-three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.37.

Devon Energy Stock Down 0.0%

Shares of NYSE:DVN opened at $48.79 on Friday. The company has a fifty day moving average of $42.50 and a 200-day moving average of $37.66. The company has a market capitalization of $30.25 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $49.83.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $17.19 billion for the quarter, compared to the consensus estimate of $3.67 billion. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.Devon Energy’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.10 EPS. On average, equities analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.24 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.96 annualized dividend and a yield of 2.0%. Devon Energy’s dividend payout ratio (DPR) is currently 23.02%.

Devon Energy Company 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.