Devon Energy Co. (NYSE:DVN) Shares Purchased by Kwmg LLC

Kwmg LLC grew its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,619 shares of the energy company's stock after acquiring an additional 16,180 shares during the quarter. Kwmg LLC's holdings in Devon Energy were worth $4,144,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DVN. Geode Capital Management LLC increased its position in Devon Energy by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company's stock worth $619,747,000 after purchasing an additional 206,884 shares in the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new stake in Devon Energy during the third quarter worth approximately $461,857,000. Pacer Advisors Inc. increased its position in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock worth $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. EnCap Partners GP LLC acquired a new stake in Devon Energy in the 3rd quarter valued at $408,653,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Devon Energy by 3.8% during the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company's stock valued at $390,079,000 after buying an additional 361,968 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

DVN stock traded up $0.85 during midday trading on Monday, reaching $36.84. The company had a trading volume of 12,186,464 shares, compared to its average volume of 11,430,712. The firm has a market capitalization of $24.20 billion, a PE ratio of 6.83, a P/E/G ratio of 1.07 and a beta of 2.00. The stock has a 50 day moving average price of $35.58 and a 200 day moving average price of $40.49. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts anticipate that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.39%. Devon Energy's dividend payout ratio (DPR) is presently 16.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DVN. Mizuho decreased their target price on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Scotiabank decreased their price objective on shares of Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company lowered their target price on Devon Energy from $49.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 price target on the stock. in a research note on Thursday, December 5th. Finally, Raymond James lowered their price objective on Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $49.43.

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.