Cwm LLC Purchases 1,512 Shares of Devon Energy Co. (NYSE:DVN)

Cwm LLC lifted its position in Devon Energy Co. (NYSE:DVN) by 8.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,147 shares of the energy company’s stock after acquiring an additional 1,512 shares during the quarter. Cwm LLC’s holdings in Devon Energy were worth $961,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DVN. Manchester Capital Management LLC purchased a new position in Devon Energy in the 4th quarter worth about $28,000. Sound Income Strategies LLC increased its stake in Devon Energy by 60.7% in the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after buying an additional 255 shares during the period. Rise Advisors LLC increased its stake in Devon Energy by 1,365.3% in the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after buying an additional 669 shares during the period. Jones Financial Companies Lllp increased its stake in Devon Energy by 104.8% in the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after buying an additional 374 shares during the period. Finally, PFS Partners LLC purchased a new position in Devon Energy in the 4th quarter worth about $36,000. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the topic of several recent analyst reports. Morgan Stanley raised their price target on shares of Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Truist Financial reduced their price target on shares of Devon Energy from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Mizuho raised their target price on shares of Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Citigroup raised their target price on shares of Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, Piper Sandler raised their target price on shares of Devon Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.24.

Devon Energy Stock Up 0.7 %

Shares of Devon Energy stock opened at $45.99 on Friday. The firm’s 50 day moving average price is $49.36 and its 200-day moving average price is $46.76. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09. The company has a market cap of $29.07 billion, a P/E ratio of 8.78, a PEG ratio of 1.21 and a beta of 2.08.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, sell-side analysts predict that Devon Energy Co. will post 5.24 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Insider Buying and Selling

In related news, EVP Tana K. Cashion sold 20,000 shares of Devon Energy stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the sale, the executive vice president now directly owns 104,182 shares in the company, valued at approximately $5,317,449.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is owned by company insiders.

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.