Kwmg LLC Raises Stock Holdings in Devon Energy Corporation $DVN

Kwmg LLC increased its stake in shares of Devon Energy Corporation (NYSE:DVN) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,287 shares of the energy company’s stock after purchasing an additional 10,294 shares during the period. Kwmg LLC’s holdings in Devon Energy were worth $6,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Caldwell Trust Co bought a new stake in shares of Devon Energy in the second quarter worth $25,000. PFS Partners LLC bought a new position in Devon Energy in the third quarter valued at about $25,000. First Horizon Corp bought a new position in Devon Energy in the third quarter valued at about $26,000. Accredited Wealth Management LLC boosted its holdings in shares of Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after buying an additional 308 shares during the last quarter. Finally, Ameriflex Group Inc. boosted its stake in shares of Devon Energy by 702.0% during the 3rd 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 last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Down 3.4%

Shares of NYSE:DVN opened at $48.62 on Thursday. The business has a 50 day simple moving average of $44.70 and a two-hundred day simple moving average of $38.52. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $52.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. The firm has a market capitalization of $30.15 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 0.99 and a beta of 0.56.

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

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. Devon Energy’s dividend payout ratio is presently 23.02%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Devon Energy from $46.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, March 27th. Weiss Ratings raised Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Mizuho lifted their price objective on shares of Devon Energy from $51.00 to $62.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Citigroup lifted their target price on Devon Energy from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Monday. Finally, Piper Sandler upped their price target on shares of Devon Energy from $59.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.36.

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.