WCM Investment Management LLC Increases Position in Devon Energy Co. (NYSE:DVN)

WCM Investment Management LLC raised its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 318.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,488 shares of the energy company's stock after acquiring an additional 14,829 shares during the quarter. WCM Investment Management LLC's holdings in Devon Energy were worth $759,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy during the 2nd quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Devon Energy in the 2nd quarter valued at about $34,000. PSI Advisors LLC boosted its position in shares of Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company's stock valued at $36,000 after purchasing an additional 300 shares during the period. LRI Investments LLC acquired a new stake in shares of Devon Energy in the 1st quarter valued at about $39,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy in the 3rd quarter valued at about $35,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Up 2.0 %

Shares of DVN traded up $0.77 during trading hours on Wednesday, hitting $39.11. The stock had a trading volume of 4,216,390 shares, compared to its average volume of 7,426,680. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a market cap of $25.69 billion, a P/E ratio of 7.19, a P/E/G ratio of 1.19 and a beta of 2.03. The company's fifty day simple moving average is $40.27 and its 200 day simple moving average is $44.59. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company posted $1.65 EPS. The business's quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Devon Energy Co. will post 4.86 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy's dividend payout ratio (DPR) is presently 16.33%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DVN. Jefferies Financial Group assumed coverage on Devon Energy in a research note on Thursday, October 3rd. They set a "hold" rating and a $45.00 price objective for the company. TD Cowen cut their target price on Devon Energy from $54.00 to $46.00 and set a "hold" rating for the company in a research note on Tuesday, November 5th. Mizuho cut their target price on Devon Energy from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Wednesday, October 9th. Susquehanna cut their target price on Devon Energy from $63.00 to $62.00 and set a "positive" rating for the company in a research note on Friday, October 18th. Finally, Raymond James lowered their price target on Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $51.80.

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.