Cromwell Holdings LLC Has $72,000 Stock Holdings in Devon Energy Corporation $DVN

Cromwell Holdings LLC raised its holdings in Devon Energy Corporation (NYSE:DVN) by 100.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,263 shares of the energy company’s stock after acquiring an additional 1,136 shares during the quarter. Cromwell Holdings LLC’s holdings in Devon Energy were worth $72,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DVN. Two Sigma Investments LP acquired a new stake in Devon Energy in the fourth quarter valued at approximately $256,000. GAMMA Investing LLC lifted its stake in Devon Energy by 6,068.1% in the first quarter. GAMMA Investing LLC now owns 726,607 shares of the energy company’s stock valued at $27,175,000 after acquiring an additional 714,827 shares during the last quarter. NBC Securities Inc. lifted its stake in Devon Energy by 122,633.3% in the first quarter. NBC Securities Inc. now owns 3,682 shares of the energy company’s stock valued at $137,000 after acquiring an additional 3,679 shares during the last quarter. Merit Financial Group LLC lifted its stake in Devon Energy by 209.5% in the first quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company’s stock valued at $848,000 after acquiring an additional 15,351 shares during the last quarter. Finally, Secure Asset Management LLC acquired a new stake in Devon Energy in the first quarter valued at approximately $201,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the business’s stock in a transaction on Monday, August 11th. The shares were 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. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

DVN has been the subject of a number of analyst reports. Piper Sandler reduced their target price on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. Barclays boosted their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Scotiabank restated an “outperform” rating on shares of Devon Energy in a research note on Friday, July 11th. Mizuho reduced their price objective on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Devon Energy from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.81.

Devon Energy Trading Down 2.8%

Shares of DVN stock opened at $34.33 on Friday. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $43.29. The firm’s fifty day simple moving average is $34.41 and its 200 day simple moving average is $33.18. The firm has a market capitalization of $21.79 billion, a P/E ratio of 7.70, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Devon Energy’s revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.8%. Devon Energy’s payout ratio is 21.52%.

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.