Devon Energy Corporation $DVN Shares Sold by Cwm LLC

Key Points

• Cwm LLC trimmed its stake in Devon Energy by 19.3% in Q4, selling 64,954 shares and leaving 271,907 shares valued at about $9.96 million.
• Devon beat Q4 estimates with EPS of $0.82 and revenue of $4.12 billion (vs. $3.67B consensus) despite revenue declining 6.4% year‑over‑year, and it pays a quarterly dividend of $0.24 (annualized $0.96, ~2.2% yield).

Cwm LLC trimmed its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 271,907 shares of the energy company's stock after selling 64,954 shares during the quarter. Cwm LLC's holdings in Devon Energy were worth $9,960,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DVN. PFS Partners LLC acquired a new position in shares of Devon Energy during the third quarter worth about $25,000. First Horizon Corp acquired a new position in shares of Devon Energy during the third quarter worth about $26,000. Accredited Wealth Management LLC increased its stake in shares of Devon Energy by 61.6% during the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company's stock worth $28,000 after acquiring an additional 308 shares during the period. Ameriflex Group Inc. increased its stake in shares of Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company's stock worth $28,000 after acquiring an additional 702 shares during the period. Finally, ORG Partners LLC increased its stake in shares of Devon Energy by 65.7% during the third quarter. ORG Partners LLC now owns 888 shares of the energy company's stock worth $31,000 after acquiring an additional 352 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of DVN opened at $44.18 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. The company has a market capitalization of $27.45 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 0.80 and a beta of 0.47. The company's 50 day simple moving average is $46.37 and its 200 day simple moving average is $39.60. Devon Energy Corporation has a 1 year low of $29.06 and a 1 year high of $52.71.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The company's quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 earnings per share. On average, sell-side analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Devon Energy's dividend payout ratio is presently 23.02%.

Wall Street Analyst Weigh In

DVN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Devon Energy from $44.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, January 15th. Mizuho boosted their price objective on shares of Devon Energy from $51.00 to $62.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. Scotiabank raised shares of Devon Energy to a "hold" rating in a report on Friday, March 27th. Roth Mkm reissued a "buy" rating and set a $50.00 price objective on shares of Devon Energy in a report on Thursday, February 19th. Finally, Barclays boosted their price objective on shares of Devon Energy from $52.00 to $54.00 and gave the stock an "overweight" rating in a report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Devon Energy currently has an average rating of "Moderate Buy" and an average price target of $53.25.

About Devon Energy

Devon Energy Corporation NYSE: DVN is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.

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