Kwmg LLC Increases Stock Position in Devon Energy Corporation $DVN

Kwmg LLC boosted its holdings in Devon Energy Corporation (NYSE:DVN) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,287 shares of the energy company’s stock after buying an additional 10,294 shares during the period. Kwmg LLC’s holdings in Devon Energy were worth $6,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Woodline Partners LP increased its holdings in Devon Energy by 98.8% during the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after acquiring an additional 57,555 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Devon Energy in the second quarter worth approximately $403,000. Elevation Point Wealth Partners LLC bought a new position in shares of Devon Energy in the second quarter worth approximately $34,000. Level Four Advisory Services LLC raised its stake in Devon Energy by 16.3% in the second quarter. Level Four Advisory Services LLC now owns 10,427 shares of the energy company’s stock valued at $332,000 after purchasing an additional 1,459 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Devon Energy by 69.0% in the second quarter. Mackenzie Financial Corp now owns 115,637 shares of the energy company’s stock valued at $3,678,000 after purchasing an additional 47,211 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Down 3.4%

NYSE:DVN opened at $48.62 on Thursday. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $52.71. The firm’s 50-day moving average price is $44.70 and its 200-day moving average price is $38.52. The company has a market capitalization of $30.15 billion, a PE ratio of 11.66, a P/E/G ratio of 0.99 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The business’s revenue was down 6.4% on a year-over-year basis. During the same period last year, the business earned $1.10 earnings per share. 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 disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, March 13th. Devon Energy’s dividend payout ratio is 23.02%.

Analysts Set New Price Targets

Several research analysts recently issued reports on DVN shares. Raymond James Financial upped their target price on shares of Devon Energy from $44.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. TD Cowen boosted their target price on Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Mizuho raised their price target on Devon Energy from $51.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Weiss Ratings raised shares of Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Finally, Sanford C. Bernstein reduced their price target on Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.36.

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.