Nwam LLC Takes $562,000 Position in Devon Energy Co. (NYSE:DVN)

Nwam LLC purchased a new stake in shares of Devon Energy Co. (NYSE:DVN) during the 3rd quarter, Holdings Channel reports. The fund purchased 14,372 shares of the energy company’s stock, valued at approximately $562,000.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in Devon Energy by 4,125.7% in the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after buying an additional 2,226,983 shares during the period. Pacer Advisors Inc. grew its stake in shares of Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the period. Los Angeles Capital Management LLC increased its holdings in Devon Energy by 7,165.6% in the second quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock valued at $65,234,000 after purchasing an additional 1,357,311 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after buying an additional 1,255,543 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Devon Energy by 447.6% during the second quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock worth $56,299,000 after buying an additional 964,147 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on DVN. Jefferies Financial Group started coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target on the stock. StockNews.com lowered shares of Devon Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Evercore ISI decreased their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. BMO Capital Markets dropped their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $51.85.

Devon Energy Price Performance

NYSE:DVN opened at $39.45 on Friday. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The company has a market cap of $25.91 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.22 and a beta of 2.03. 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 stock’s 50-day simple moving average is $39.94 and its 200 day simple moving average is $43.95.

Devon Energy (NYSE:DVN) last posted its quarterly 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. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 EPS. As a group, sell-side analysts forecast that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

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.