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

Koss Olinger Consulting LLC bought a new stake in Devon Energy Co. (NYSE:DVN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,250 shares of the energy company's stock, valued at approximately $663,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $8,002,000. Bridgewater Associates LP purchased a new position in Devon Energy in the third quarter valued at $9,426,000. Petrus Trust Company LTA raised its stake in Devon Energy by 394.7% in the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company's stock valued at $854,000 after buying an additional 17,415 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Devon Energy by 6.3% during the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company's stock worth $4,193,000 after buying an additional 6,358 shares during the last quarter. Finally, Smead Capital Management Inc. lifted its holdings in Devon Energy by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company's stock worth $230,007,000 after buying an additional 198,193 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DVN. Truist Financial raised their target price on Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Wolfe Research upgraded shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a research note on Friday, January 3rd. Barclays boosted their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. Mizuho dropped their target price on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Finally, Williams Trading set a $50.00 price target on shares of Devon Energy in a research note on Wednesday, March 5th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.46.

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Devon Energy Price Performance

DVN stock traded up $0.05 on Friday, reaching $36.18. 12,727,559 shares of the company's stock were exchanged, compared to its average volume of 7,854,904. The stock has a fifty day moving average of $35.46 and a 200-day moving average of $37.02. The firm has a market cap of $23.48 billion, a PE ratio of 7.93, a P/E/G ratio of 1.20 and a beta of 1.91. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. This is an increase from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, March 14th. Devon Energy's dividend payout ratio (DPR) is presently 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.