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

Koss Olinger Consulting LLC bought a new position in Devon Energy Co. (NYSE:DVN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,250 shares of the energy company’s stock, valued at approximately $663,000.

Several other hedge funds also recently made changes to their positions in DVN. Sfmg LLC increased its stake in shares of Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after buying an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC increased its stake in shares of Devon Energy by 3.9% in the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after buying an additional 309 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of Devon Energy by 1.6% in the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock worth $695,000 after buying an additional 326 shares during the last quarter. Annex Advisory Services LLC increased its stake in shares of Devon Energy by 1.2% in the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock worth $884,000 after buying an additional 327 shares during the last quarter. Finally, Fiduciary Trust Co increased its stake in shares of Devon Energy by 3.1% in the third quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company’s stock worth $433,000 after buying an additional 329 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of NYSE DVN opened at $35.35 on Wednesday. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $22.94 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 1.20 and a beta of 1.91. The firm has a 50-day moving average of $35.42 and a two-hundred day moving average of $37.14.

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, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. As a group, analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

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

Analysts Set New Price Targets

DVN has been the subject of a number of research analyst reports. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Wednesday, January 15th. Wells Fargo & Company lowered their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Barclays boosted their target price on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Finally, StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.46.

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.