Cwm LLC Has $991,000 Stake in Devon Energy Corporation (DVN)

CWM LLC increased its stake in shares of Devon Energy Corporation (NYSE:DVN) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,988 shares of the energy company’s stock after buying an additional 2,327 shares during the period. CWM LLC’s holdings in Devon Energy Corporation were worth $991,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Gulf International Bank UK Ltd raised its stake in shares of Devon Energy Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 145,818 shares of the energy company’s stock valued at $6,083,000 after buying an additional 2,000 shares during the period. New England Research & Management Inc. bought a new stake in shares of Devon Energy Corporation during the first quarter valued at about $561,000. Chevy Chase Trust Holdings Inc. increased its stake in Devon Energy Corporation by 2.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 629,647 shares of the energy company’s stock valued at $26,269,000 after buying an additional 13,072 shares in the last quarter. Triangle Securities Wealth Management increased its stake in Devon Energy Corporation by 4.4% in the first quarter. Triangle Securities Wealth Management now owns 10,109 shares of the energy company’s stock valued at $422,000 after buying an additional 430 shares in the last quarter. Finally, Private Asset Management Inc. increased its stake in Devon Energy Corporation by 3.5% in the first quarter. Private Asset Management Inc. now owns 23,211 shares of the energy company’s stock valued at $968,000 after buying an additional 786 shares in the last quarter. 77.22% of the stock is currently owned by institutional investors.

Devon Energy Corporation (NYSE:DVN) opened at 33.66 on Friday. The firm’s 50-day moving average price is $31.57 and its 200 day moving average price is $38.48. Devon Energy Corporation has a 12 month low of $28.79 and a 12 month high of $50.69. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 7.55 and a beta of 2.17.

Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the business posted $0.06 earnings per share. The firm’s revenue was up 31.6% compared to the same quarter last year. On average, analysts anticipate that Devon Energy Corporation will post $1.64 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.71%. Devon Energy Corporation’s payout ratio is 5.47%.

Several equities research analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. Barclays PLC restated an “overweight” rating and issued a $47.00 price target (down previously from $54.00) on shares of Devon Energy Corporation in a research report on Saturday, April 22nd. Seaport Global Securities downgraded shares of Devon Energy Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $51.00 to $28.00 in a research report on Wednesday, June 21st. Credit Suisse Group boosted their target price on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, May 4th. Finally, Scotiabank set a $57.00 target price on shares of Devon Energy Corporation and gave the company a “buy” rating in a research report on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $47.71.

About Devon Energy Corporation

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).