Cwm LLC Acquires 109,787 Shares of Devon Energy Corporation $DVN

Cwm LLC raised its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 124.3% in the second quarter, HoldingsChannel.com reports. The firm owned 198,144 shares of the energy company’s stock after buying an additional 109,787 shares during the period. Cwm LLC’s holdings in Devon Energy were worth $6,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DVN. SVB Wealth LLC grew its holdings in shares of Devon Energy by 4.1% in the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock worth $304,000 after purchasing an additional 321 shares during the last quarter. MAS Advisors LLC grew its holdings in shares of Devon Energy by 4.3% in the second quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock worth $253,000 after purchasing an additional 327 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Devon Energy by 24.3% in the first quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock worth $72,000 after purchasing an additional 377 shares during the last quarter. Callan Family Office LLC grew its holdings in shares of Devon Energy by 3.7% in the first quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock worth $396,000 after purchasing an additional 377 shares during the last quarter. Finally, Hager Investment Management Services LLC grew its holdings in shares of Devon Energy by 9.9% in the first quarter. Hager Investment Management Services LLC now owns 4,235 shares of the energy company’s stock worth $158,000 after purchasing an additional 380 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $32.57 on Thursday. The stock has a market cap of $20.68 billion, a P/E ratio of 7.30, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03. The firm’s fifty day simple moving average is $34.56 and its 200 day simple moving average is $33.02. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $41.61. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 earnings per share. As a group, research analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 annualized dividend and a yield of 2.9%. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

Analyst Ratings Changes

DVN has been the topic of several recent analyst reports. Roth Capital initiated coverage on shares of Devon Energy in a report on Monday. They issued a “buy” rating and a $42.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. BMO Capital Markets raised their target price on shares of Devon Energy from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. Mizuho cut their price target on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Piper Sandler cut their price target on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Seventeen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $43.68.

Insider Buying and Selling

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares of the company’s stock, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.71% of the company’s stock.

Devon Energy 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.