Kwmg LLC Boosts Stock Position in Devon Energy Corporation $DVN

Key Points

• Kwmg LLC increased its holding in Devon Energy Corporation by 10.2%, reaching a total of 147,671 shares valued at approximately $4.7 million.
• Devon Energy recently reported an earnings per share (EPS) of $0.84 for the last quarter, exceeding analyst expectations of $0.83, along with revenues of $4.28 billion.
• The company declared a quarterly dividend of $0.24 per share, which will be paid on September 30th, and represents an annual yield of 2.8%.

Kwmg LLC raised its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 10.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,671 shares of the energy company's stock after purchasing an additional 13,616 shares during the period. Kwmg LLC's holdings in Devon Energy were worth $4,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DVN. SVB Wealth LLC boosted its holdings in Devon Energy by 4.1% in the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company's stock worth $304,000 after acquiring an additional 321 shares in the last quarter. Whittier Trust Co. boosted its holdings in Devon Energy by 24.3% in the first quarter. Whittier Trust Co. now owns 1,927 shares of the energy company's stock worth $72,000 after acquiring an additional 377 shares in the last quarter. Callan Family Office LLC boosted its holdings in Devon Energy by 3.7% in the first 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 in the last quarter. Hager Investment Management Services LLC boosted its holdings in Devon Energy by 9.9% in the first 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 in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Devon Energy by 0.4% in the first quarter. Private Advisor Group LLC now owns 92,211 shares of the energy company's stock worth $3,449,000 after acquiring an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Insider Transactions at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the transaction, the director owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.73% of the company's stock.

Devon Energy Stock Down 0.6%

Devon Energy stock opened at $33.77 on Tuesday. The stock has a market capitalization of $21.44 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 1.97 and a beta of 1.09. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $43.29. The business has a 50 day simple moving average of $33.98 and a 200-day simple moving average of $33.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 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 firm had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the previous year, the business earned $1.41 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.96 annualized dividend and a yield of 2.8%. Devon Energy's dividend payout ratio is presently 21.52%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DVN. Tudor, Pickering, Holt & Co. raised their price target on Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Bernstein Bank lowered their price target on Devon Energy from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Monday, July 7th. Jefferies Financial Group raised their price target on Devon Energy from $31.00 to $33.00 and gave the stock a "hold" rating in a report on Monday, July 14th. Morgan Stanley raised their price target on Devon Energy from $46.00 to $49.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Finally, UBS Group lifted their target price on Devon Energy from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Sixteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.04.

Devon Energy 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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