Devon Energy Corporation $DVN Stock Holdings Lessened by Kwmg LLC

Kwmg LLC lowered its position in shares of Devon Energy Corporation (NYSE:DVN) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 313,708 shares of the energy company’s stock after selling 22,499 shares during the period. Kwmg LLC’s holdings in Devon Energy were worth $14,443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in Devon Energy by 57.6% in the 2nd quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock valued at $3,941,054,000 after purchasing an additional 34,871,366 shares during the period. State Street Corp increased its holdings in shares of Devon Energy by 89.8% in the second quarter. State Street Corp now owns 73,179,266 shares of the energy company’s stock worth $3,023,767,000 after purchasing an additional 34,615,088 shares during the period. Wellington Management Group LLP raised its position in shares of Devon Energy by 418.3% in the second quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company’s stock worth $2,128,905,000 after buying an additional 41,581,435 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Devon Energy by 17.5% in the fourth quarter. Victory Capital Management Inc. now owns 13,916,979 shares of the energy company’s stock worth $509,779,000 after buying an additional 2,071,021 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Devon Energy during the second quarter valued at $421,226,000. Institutional investors own 69.72% of the company’s stock.

Insider Activity at Devon Energy

In other news, EVP Robert Ferrall Lowe III sold 6,756 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $50.95, for a total value of $344,218.20. Following the completion of the sale, the executive vice president directly owned 72,720 shares in the company, valued at approximately $3,705,084. The trade was a 8.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Clay Gaspar acquired 3,913 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was acquired at an average cost of $51.08 per share, with a total value of $199,876.04. Following the purchase, the chief executive officer directly owned 619,152 shares in the company, valued at $31,626,284.16. This represents a 0.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 4.58% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the subject of several recent analyst reports. Wall Street Zen upgraded Devon Energy from a “hold” rating to a “buy” rating in a research report on Saturday. The Goldman Sachs Group dropped their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. BMO Capital Markets restated an “outperform” rating and issued a $67.00 price objective on shares of Devon Energy in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Devon Energy from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, October 2nd. Finally, Stifel Nicolaus assumed coverage on shares of Devon Energy in a research report on Thursday, September 10th. They set a “buy” rating and a $61.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.11.

Devon Energy Price Performance

DVN stock traded down $0.44 during mid-day trading on Wednesday, hitting $47.58. 2,680,547 shares of the stock were exchanged, compared to its average volume of 13,189,918. The business has a fifty day moving average price of $47.19 and a 200 day moving average price of $46.34. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. The stock has a market capitalization of $52.33 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.30 and a beta of 0.49.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.40 by $0.17. The firm had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The company’s revenue was up 73.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 EPS. On average, sell-side analysts anticipate that Devon Energy Corporation will post 5.27 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is presently 30.40%.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates in the United States and focuses on onshore properties with oil- and liquids-rich resources.

Devon’s operations are concentrated in several major U.S. producing regions, including the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.