By otakuyassine3@gmail.com 
Kwmg LLC lifted its holdings in Devon Energy Co. (NYSE:DVN – Free Report) by 14.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 126,619 shares of the energy company’s stock after purchasing an additional 16,180 shares during the quarter. Kwmg LLC’s holdings in Devon Energy were worth $4,144,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of DVN. SkyOak Wealth LLC boosted its holdings in shares of Devon Energy by 4.1% in the second quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock valued at $298,000 after buying an additional 250 shares during the period. Riversedge Advisors LLC boosted its stake in Devon Energy by 3.6% in the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after purchasing an additional 253 shares during the period. Modus Advisors LLC increased its holdings in Devon Energy by 2.4% during the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock worth $447,000 after purchasing an additional 272 shares in the last quarter. Lummis Asset Management LP raised its stake in shares of Devon Energy by 1.0% in the 2nd quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company’s stock valued at $1,425,000 after purchasing an additional 290 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares during the period. 69.72% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Benchmark reissued a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Scotiabank cut their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Mizuho decreased their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Thursday, December 5th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.43.
Check Out Our Latest Report on DVN
Devon Energy Stock Performance
Shares of DVN stock traded up $0.85 on Monday, hitting $36.84. The company’s stock had a trading volume of 12,034,453 shares, compared to its average volume of 11,033,391. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a market capitalization of $24.20 billion, a PE ratio of 6.83, a PEG ratio of 1.07 and a beta of 1.99. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The stock’s 50 day moving average is $35.62 and its 200-day moving average is $40.56.
Devon Energy (NYSE:DVN – Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. During the same period in the previous year, the business earned $1.65 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts expect that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.
Devon Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Friday, December 13th. Devon Energy’s payout ratio is currently 16.33%.
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.
Further Reading
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