Cwm LLC Has $6.30 Million Stock Holdings in Devon Energy Corporation $DVN

Cwm LLC increased its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 124.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,144 shares of the energy company's stock after buying an additional 109,787 shares during the period. Cwm LLC's holdings in Devon Energy were worth $6,303,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DVN. GAMMA Investing LLC boosted its position in Devon Energy by 64.9% during the 1st quarter. GAMMA Investing LLC now owns 19,428 shares of the energy company's stock worth $727,000 after buying an additional 7,648 shares during the period. Exchange Traded Concepts LLC boosted its position in Devon Energy by 11.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,952 shares of the energy company's stock worth $260,000 after buying an additional 736 shares during the period. Brighton Jones LLC bought a new position in Devon Energy during the 1st quarter worth approximately $211,000. Janney Montgomery Scott LLC raised its holdings in Devon Energy by 6.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 249,483 shares of the energy company's stock worth $9,331,000 after purchasing an additional 15,723 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Devon Energy by 54.9% during the 1st quarter. QRG Capital Management Inc. now owns 142,626 shares of the energy company's stock worth $5,334,000 after purchasing an additional 50,528 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DVN shares. Siebert Williams Shank raised their price target on shares of Devon Energy from $47.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Bernstein Bank lowered their price target on shares of Devon Energy from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Monday, July 7th. Barclays lowered their price target on shares of Devon Energy from $42.00 to $40.00 and set an "equal weight" rating for the company in a report on Tuesday, October 7th. Roth Capital started coverage on shares of Devon Energy in a report on Monday. They set a "buy" rating and a $42.00 price target for the company. Finally, Wolfe Research raised their price target on shares of Devon Energy from $47.00 to $49.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Seventeen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.68.

Devon Energy Stock Performance

NYSE:DVN opened at $32.57 on Thursday. The company has a fifty day moving average of $34.56 and a 200-day moving average of $33.02. The firm has a market capitalization of $20.68 billion, a P/E ratio of 7.30, a P/E/G ratio of 1.91 and a beta of 1.03. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $41.61.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. Devon Energy's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS. As a group, sell-side analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, September 15th. Devon Energy's payout ratio is 21.52%.

Insider Buying and Selling

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the sale, the director owned 31,801 shares in the company, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.71% of the company's stock.

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.

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