Cwm LLC Acquires 62,182 Shares of Devon Energy Corporation (NYSE:DVN)

Cwm LLC boosted its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 237.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 88,357 shares of the energy company's stock after buying an additional 62,182 shares during the period. Cwm LLC's holdings in Devon Energy were worth $3,305,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of DVN. Hurley Capital LLC bought a new position in shares of Devon Energy in the fourth quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new stake in Devon Energy in the first quarter valued at approximately $26,000. Accredited Wealth Management LLC acquired a new position in Devon Energy in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. raised its position in shares of Devon Energy by 94.6% during the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock worth $31,000 after purchasing an additional 405 shares during the period. Finally, Hughes Financial Services LLC purchased a new stake in Devon Energy in the 1st quarter valued at $38,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DVN. Royal Bank Of Canada cut their price target on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research note on Monday, April 14th. Bank of America reduced their target price on Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Mizuho lowered their price target on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. JPMorgan Chase & Co. upped their price target on Devon Energy from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Citigroup cut their target price on Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Devon Energy presently has an average rating of "Moderate Buy" and an average price target of $43.67.

Devon Energy Stock Up 3.2%

Shares of NYSE DVN opened at $32.77 on Friday. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $49.08. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. The company has a market cap of $21.04 billion, a P/E ratio of 7.46, a P/E/G ratio of 2.37 and a beta of 1.02. The stock has a fifty day moving average price of $32.82 and a 200 day moving average price of $33.54.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share 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 business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the company earned $1.16 EPS. Devon Energy's quarterly revenue was up 23.8% on a year-over-year basis. Research analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.93%. Devon Energy's dividend payout ratio (DPR) is presently 21.87%.

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.

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