Koss Olinger Consulting LLC Invests $663,000 in Devon Energy Co. (NYSE:DVN)

Koss Olinger Consulting LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,250 shares of the energy company’s stock, valued at approximately $663,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DVN. EnCap Energy Capital Fund XI L.P. acquired a new position in Devon Energy during the third quarter worth about $461,857,000. EnCap Partners GP LLC acquired a new position in Devon Energy during the third quarter worth about $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new position in Devon Energy during the third quarter worth about $230,928,000. Raymond James Financial Inc. acquired a new position in Devon Energy during the fourth quarter worth about $154,170,000. Finally, Pacer Advisors Inc. boosted its position in 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 acquiring an additional 1,677,652 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on DVN. Citigroup lowered their price target on shares of Devon Energy from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday. Williams Trading set a $50.00 target price on shares of Devon Energy in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Raymond James decreased their target price on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, March 10th. Finally, Benchmark reiterated a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.46.

Devon Energy Stock Up 0.7 %

Shares of NYSE:DVN opened at $35.35 on Wednesday. The stock has a market cap of $22.94 billion, a P/E ratio of 7.75, a P/E/G ratio of 1.20 and a beta of 1.91. The firm has a fifty day moving average price of $35.42 and a 200 day moving average price of $37.14. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Sell-side analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.72%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is currently 21.05%.

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.