Cwm LLC Sells 8,429 Shares of Devon Energy Co. (NYSE:DVN)

Cwm LLC decreased its position in Devon Energy Co. (NYSE:DVN) by 32.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,635 shares of the energy company’s stock after selling 8,429 shares during the period. Cwm LLC’s holdings in Devon Energy were worth $799,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DVN. Pacer Advisors Inc. raised its holdings in shares of Devon Energy by 1,279.7% in the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after buying an additional 5,700,167 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Devon Energy in the 3rd quarter worth approximately $113,793,000. Morgan Stanley raised its holdings in shares of Devon Energy by 23.6% in the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock worth $555,567,000 after buying an additional 2,220,194 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Devon Energy by 3,885.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock valued at $76,793,000 after purchasing an additional 1,652,671 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in Devon Energy by 61.0% during the 3rd quarter. Schroder Investment Management Group now owns 2,673,781 shares of the energy company’s stock valued at $127,539,000 after purchasing an additional 1,013,353 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DVN shares. Morgan Stanley raised their price target on Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Piper Sandler raised their price target on Devon Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 19th. UBS Group increased their price objective on Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Susquehanna increased their price objective on Devon Energy from $52.00 to $65.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Finally, Citigroup increased their price objective on Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $58.33.

Devon Energy Stock Up 0.7 %

NYSE:DVN opened at $53.08 on Tuesday. The firm has a market capitalization of $33.71 billion, a P/E ratio of 9.10 and a beta of 2.19. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $49.07 and its 200-day simple moving average is $46.22.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter last year, the business posted $1.66 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts expect that Devon Energy Co. will post 5.28 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s dividend payout ratio is 15.09%.

About Devon Energy

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.