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

Kieckhefer Group LLC purchased a new position in shares of 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 institutional investor purchased 24,461 shares of the energy company’s stock, valued at approximately $801,000. Devon Energy comprises about 0.5% of Kieckhefer Group LLC’s investment portfolio, making the stock its 23rd largest position.

Other institutional investors also recently bought and sold shares of the company. EnCap Energy Capital Fund XI L.P. purchased a new stake in shares of Devon Energy in the third quarter valued at about $461,857,000. EnCap Partners GP LLC acquired a new position in Devon Energy in the third quarter valued at approximately $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new position in Devon Energy in the third quarter worth approximately $230,928,000. International Assets Investment Management LLC boosted its stake in Devon Energy by 4,125.7% during the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after buying an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. boosted its position 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 buying an additional 1,677,652 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Up 2.3 %

NYSE DVN traded up $0.82 on Monday, reaching $36.81. The company had a trading volume of 5,127,353 shares, compared to its average volume of 10,332,606. The firm has a market capitalization of $24.18 billion, a PE ratio of 6.83, a P/E/G ratio of 1.07 and a beta of 1.99. The firm has a 50-day moving average of $35.62 and a 200-day moving average of $40.56. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Benchmark reiterated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. BMO Capital Markets dropped their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Barclays lowered their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research note on Friday. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $49.43.

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.