Caliber Wealth Management LLC KS Invests $2.89 Million in Devon Energy Corporation (NYSE:DVN)

Key Points

• Caliber Wealth Management LLC KS acquired 77,391 shares of Devon Energy Corporation, valued at approximately $2,894,000, during the first quarter.
• Devon Energy reported $1.21 EPS for the last quarter, missing the consensus estimate by $0.06, with a revenue of $4.45 billion, which exceeded analyst expectations.
• Several research analysts have upgraded their target prices for Devon Energy, with a consensus price target of $43.85 and four ratings being "buy".

Caliber Wealth Management LLC KS purchased a new position in Devon Energy Corporation (NYSE:DVN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 77,391 shares of the energy company's stock, valued at approximately $2,894,000.

Several other hedge funds have also made changes to their positions in DVN. Hurley Capital LLC bought a new stake in shares of Devon Energy in the 4th quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in Devon Energy during the 1st quarter valued at $26,000. Accredited Wealth Management LLC bought a new stake in Devon Energy during the 4th quarter valued at $28,000. Rakuten Securities Inc. raised its stake in Devon Energy by 94.6% during the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after acquiring an additional 405 shares in the last quarter. Finally, Hughes Financial Services LLC bought a new stake in Devon Energy during the 1st quarter valued at $38,000. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Down 1.1%

DVN traded down $0.36 during trading on Tuesday, reaching $33.73. 2,027,684 shares of the stock traded hands, compared to its average volume of 9,092,773. The stock has a market cap of $21.66 billion, a price-to-earnings ratio of 7.69, a price-to-earnings-growth ratio of 1.87 and a beta of 1.02. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $47.44. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.99. The stock's 50-day simple moving average is $32.78 and its two-hundred day simple moving average is $33.48.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the business posted $1.16 EPS. Devon Energy's revenue for the quarter was up 23.8% on a year-over-year basis. As a group, equities research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.24 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.85%. Devon Energy's dividend payout ratio is currently 21.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Tudor, Pickering, Holt & Co. lifted their price target on Devon Energy from $42.00 to $44.00 in a research report on Thursday, July 3rd. Barclays lifted their price target on Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Raymond James Financial reiterated an "outperform" rating and set a $45.00 price target (up from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. Wells Fargo & Company lifted their price target on Devon Energy from $41.00 to $42.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, Siebert Williams Shank lifted their price target on Devon Energy from $47.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Devon Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.85.

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.