Cwm LLC Purchases 16,490 Shares of Devon Energy Co. (NYSE:DVN)

Cwm LLC increased its position in shares of Devon Energy Co. (NYSE:DVN) by 73.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,969 shares of the energy company’s stock after buying an additional 16,490 shares during the period. Cwm LLC’s holdings in Devon Energy were worth $1,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DVN. Vanguard Group Inc. grew its position in shares of Devon Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after purchasing an additional 2,559,039 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Devon Energy by 16.8% in the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after buying an additional 1,428,776 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Devon Energy by 7,165.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock worth $65,234,000 after buying an additional 1,357,311 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Devon Energy by 16.7% during the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after buying an additional 1,255,543 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Devon Energy by 447.6% in the second quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock valued at $56,299,000 after acquiring an additional 964,147 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on DVN shares. Sanford C. Bernstein cut their target price on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Susquehanna reduced their target price on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Morgan Stanley cut their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 16th. BMO Capital Markets decreased their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, Wolfe Research began coverage on Devon Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.58.

Devon Energy Price Performance

Shares of DVN stock opened at $41.21 on Wednesday. The stock’s fifty day moving average is $42.38 and its 200-day moving average is $46.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The stock has a market capitalization of $26.04 billion, a PE ratio of 7.86, a PEG ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter last year, the company posted $1.18 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities research analysts expect that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio is 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.