Kwmg LLC Has $4.32 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Kwmg LLC grew its holdings in Devon Energy Co. (NYSE:DVN) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,439 shares of the energy company’s stock after buying an additional 3,845 shares during the period. Kwmg LLC’s holdings in Devon Energy were worth $4,320,000 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 business. Diversified Trust Co bought a new position in Devon Energy during the third quarter worth $616,000. Czech National Bank lifted its stake in shares of Devon Energy by 5.9% during the 3rd quarter. Czech National Bank now owns 127,563 shares of the energy company’s stock worth $4,990,000 after buying an additional 7,129 shares during the last quarter. Cullen Investment Group LTD. boosted its holdings in shares of Devon Energy by 14.0% during the 3rd quarter. Cullen Investment Group LTD. now owns 123,905 shares of the energy company’s stock worth $4,847,000 after buying an additional 15,191 shares during the period. Collective Family Office LLC grew its stake in Devon Energy by 47.7% in the 3rd quarter. Collective Family Office LLC now owns 6,305 shares of the energy company’s stock valued at $247,000 after buying an additional 2,035 shares during the last quarter. Finally, Rockland Trust Co. raised its holdings in Devon Energy by 17.9% in the 3rd quarter. Rockland Trust Co. now owns 5,530 shares of the energy company’s stock valued at $216,000 after acquiring an additional 840 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Susquehanna reduced their price target on Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. UBS Group lowered their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Evercore ISI reduced their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Finally, Barclays lowered their price target on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.79.

Devon Energy Price Performance

DVN traded up $0.19 during trading on Monday, hitting $42.61. 8,347,744 shares of the stock traded hands, compared to its average volume of 7,296,885. The business has a 50 day moving average price of $42.66 and a 200 day moving average price of $46.81. The company has a market cap of $26.93 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the previous year, the firm earned $1.18 EPS. Devon Energy’s revenue was up 13.4% on a year-over-year basis. Equities research analysts forecast that Devon Energy Co. will post 5.11 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

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.