Kwmg LLC Raises Stock Position in Devon Energy Co. (NYSE:DVN)

Kwmg LLC lifted its stake in shares of Devon Energy Co. (NYSE:DVN) by 4.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 99,031 shares of the energy company’s stock after acquiring an additional 4,451 shares during the quarter. Kwmg LLC’s holdings in Devon Energy were worth $4,969,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DVN. Pacer Advisors Inc. increased its stake in 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 valued at $278,396,000 after buying an additional 5,700,167 shares during the period. Morgan Stanley increased its stake in Devon Energy by 23.6% in the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after buying an additional 2,220,194 shares during the period. International Assets Investment Management LLC boosted its position in shares of 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 worth $76,793,000 after purchasing an additional 1,652,671 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Devon Energy by 26.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock worth $320,609,000 after purchasing an additional 1,488,374 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of 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 worth $127,539,000 after purchasing an additional 1,013,353 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DVN shares. Citigroup boosted their target price on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Stifel Nicolaus boosted their price objective on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Piper Sandler boosted their price objective on shares of Devon Energy from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Morgan Stanley boosted their price objective on shares of Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Mizuho boosted their price objective on shares of Devon Energy from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.24.

Insider Buying and Selling

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the sale, the executive vice president now directly owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is currently owned by company insiders.

Devon Energy Trading Down 1.1 %

DVN traded down $0.54 on Wednesday, reaching $46.83. 3,444,479 shares of the company’s stock were exchanged, compared to its average volume of 7,381,918. The company’s 50 day moving average is $49.01 and its 200-day moving average is $46.87. The company has a market cap of $29.60 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.25 and a beta of 2.08. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the company earned $1.46 earnings per share. Devon Energy’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities analysts predict that Devon Energy Co. will post 5.27 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

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.