Nwam LLC Acquires New Position in Devon Energy Co. (NYSE:DVN)

Nwam LLC purchased a new position in Devon Energy Co. (NYSE:DVN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,372 shares of the energy company’s stock, valued at approximately $562,000.

Other institutional investors have also recently bought and sold shares of the company. Annex Advisory Services LLC grew its stake in Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after acquiring an additional 223 shares in the last quarter. Versant Capital Management Inc raised its holdings in Devon Energy by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock worth $46,000 after acquiring an additional 226 shares during the period. Archer Investment Corp boosted its stake in Devon Energy by 2.8% during the 2nd quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock valued at $405,000 after purchasing an additional 235 shares during the period. Citizens Financial Group Inc. RI grew its holdings in Devon Energy by 2.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock valued at $476,000 after buying an additional 236 shares during the last quarter. Finally, Institute for Wealth Management LLC. increased its position in Devon Energy by 4.0% in the 2nd quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock worth $296,000 after buying an additional 237 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

NYSE DVN opened at $39.45 on Friday. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The company has a 50 day moving average of $39.94 and a 200-day moving average of $43.95. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $25.91 billion, a price-to-earnings ratio of 7.32, a PEG ratio of 1.22 and a beta of 2.03.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.65 EPS. On average, equities analysts forecast that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.23%. Devon Energy’s dividend payout ratio is 16.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Morgan Stanley decreased their target price on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Evercore ISI reduced their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Finally, BMO Capital Markets lowered their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.85.

Devon Energy Company 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.