Kieckhefer Group LLC Invests $801,000 in Devon Energy Co. (NYSE:DVN)

Kieckhefer Group LLC bought a new position in Devon Energy Co. (NYSE:DVN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,461 shares of the energy company's stock, valued at approximately $801,000. Devon Energy makes up approximately 0.5% of Kieckhefer Group LLC's investment portfolio, making the stock its 23rd biggest position.

Other hedge funds have also modified their holdings of the company. Czech National Bank increased its position in Devon Energy by 11.7% during the 4th quarter. Czech National Bank now owns 142,429 shares of the energy company's stock valued at $4,662,000 after buying an additional 14,866 shares in the last quarter. Sugarloaf Wealth Management LLC increased its holdings in shares of Devon Energy by 159.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 15,717 shares of the energy company's stock valued at $514,000 after acquiring an additional 9,648 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Devon Energy by 90.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,724,407 shares of the energy company's stock valued at $89,170,000 after acquiring an additional 1,296,590 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of Devon Energy by 20.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 6,600 shares of the energy company's stock valued at $216,000 after purchasing an additional 1,137 shares during the last quarter. Finally, Fortem Financial Group LLC boosted its stake in Devon Energy by 17.9% in the 4th quarter. Fortem Financial Group LLC now owns 17,576 shares of the energy company's stock worth $575,000 after purchasing an additional 2,672 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DVN shares. Truist Financial decreased their price target on shares of Devon Energy from $43.00 to $42.00 and set a "hold" rating for the company in a report on Monday. Raymond James lowered their price target on Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. BMO Capital Markets cut their price objective on Devon Energy from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Morgan Stanley decreased their target price on Devon Energy from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Monday, September 16th. Finally, Jefferies Financial Group began coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a "hold" rating and a $45.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.43.

Devon Energy Price Performance

Shares of DVN stock traded up $0.85 during trading hours on Monday, hitting $36.84. 12,178,873 shares of the company's stock were exchanged, compared to its average volume of 11,409,716. The firm has a 50 day moving average of $35.62 and a two-hundred day moving average of $40.56. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The firm has a market cap of $24.20 billion, a P/E ratio of 6.83, a P/E/G ratio of 1.07 and a beta of 1.99. 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 posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during 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%. Devon Energy's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 EPS. Sell-side analysts forecast that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Announces Dividend

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

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.