CW Advisors LLC Has $2.14 Million Position in Devon Energy Corporation $DVN

Key Points

• CW Advisors LLC increased its stake in Devon Energy Corporation by 16.7%, now owning 57,219 shares worth approximately $2.14 million after acquiring additional shares in the first quarter.
• Devon Energy announced a quarterly dividend of $0.24 per share, with an ex-dividend date on September 15th, reflecting an annual yield of 2.7%.
• The company reported earnings of $0.84 per share for the last quarter, exceeding analysts' expectations of $0.83, with revenues of $4.28 billion, up 9.4% year-over-year.

CW Advisors LLC boosted its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 16.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 57,219 shares of the energy company's stock after buying an additional 8,176 shares during the period. CW Advisors LLC's holdings in Devon Energy were worth $2,140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DVN. Whittier Trust Co. increased its holdings in Devon Energy by 24.3% during the 1st quarter. Whittier Trust Co. now owns 1,927 shares of the energy company's stock worth $72,000 after purchasing an additional 377 shares during the period. Callan Family Office LLC lifted its position in Devon Energy by 3.7% during the 1st quarter. Callan Family Office LLC now owns 10,581 shares of the energy company's stock worth $396,000 after acquiring an additional 377 shares during the period. Hager Investment Management Services LLC lifted its position in Devon Energy by 9.9% during the 1st quarter. Hager Investment Management Services LLC now owns 4,235 shares of the energy company's stock worth $158,000 after acquiring an additional 380 shares during the period. Private Advisor Group LLC raised its stake in shares of Devon Energy by 0.4% during the 1st quarter. Private Advisor Group LLC now owns 92,211 shares of the energy company's stock valued at $3,449,000 after buying an additional 386 shares during the last quarter. Finally, Sierra Ocean LLC raised its stake in shares of Devon Energy by 29.4% during the 1st quarter. Sierra Ocean LLC now owns 1,709 shares of the energy company's stock valued at $64,000 after buying an additional 388 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the sale, the director directly owned 31,801 shares in the company, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.71% of the company's stock.

Devon Energy Stock Performance

NYSE DVN traded up $0.31 during trading hours on Thursday, reaching $35.87. The company's stock had a trading volume of 5,119,588 shares, compared to its average volume of 8,906,277. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $45.34. The stock has a market cap of $22.77 billion, a PE ratio of 8.04, a PEG ratio of 2.03 and a beta of 1.07. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $33.31 and a 200 day simple moving average of $33.18.

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

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, September 15th. Devon Energy's dividend payout ratio (DPR) is currently 21.52%.

Analyst Ratings Changes

Several equities research analysts have commented on DVN shares. Wolfe Research boosted their price objective on Devon Energy from $47.00 to $49.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. William Blair started coverage on Devon Energy in a research report on Monday. They set an "outperform" rating on the stock. Piper Sandler dropped their price objective on Devon Energy from $58.00 to $57.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. UBS Group raised their price target on Devon Energy from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Finally, The Goldman Sachs Group increased their price target on shares of Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Sixteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.15.

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.