Peoples Bank KS Grows Stake in Devon Energy Co. (NYSE:DVN)

Peoples Bank KS raised its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 93.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,425 shares of the energy company's stock after buying an additional 8,925 shares during the quarter. Peoples Bank KS's holdings in Devon Energy were worth $689,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of DVN. Exchange Traded Concepts LLC lifted its holdings in Devon Energy by 21.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,216 shares of the energy company's stock valued at $203,000 after purchasing an additional 1,097 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Devon Energy by 7.6% in the fourth quarter. Perigon Wealth Management LLC now owns 6,356 shares of the energy company's stock valued at $208,000 after purchasing an additional 451 shares in the last quarter. Strategic Blueprint LLC increased its stake in shares of Devon Energy by 85.7% in the 4th quarter. Strategic Blueprint LLC now owns 11,605 shares of the energy company's stock valued at $380,000 after buying an additional 5,357 shares during the period. OLD National Bancorp IN increased its position in Devon Energy by 37.2% in the fourth quarter. OLD National Bancorp IN now owns 12,743 shares of the energy company's stock worth $417,000 after purchasing an additional 3,455 shares during the period. Finally, Caprock Group LLC raised its stake in shares of Devon Energy by 28.7% during the fourth quarter. Caprock Group LLC now owns 65,094 shares of the energy company's stock worth $2,131,000 after buying an additional 14,509 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DVN. Wells Fargo & Company increased their price target on shares of Devon Energy from $44.00 to $46.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. The Goldman Sachs Group increased their target price on shares of Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Piper Sandler reduced their price target on shares of Devon Energy from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Mizuho lowered their price objective on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Raymond James set a $40.00 price objective on Devon Energy in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Devon Energy presently has an average rating of "Moderate Buy" and an average target price of $43.71.

Devon Energy Trading Up 2.8%

Shares of Devon Energy stock traded up $0.88 during midday trading on Tuesday, reaching $32.02. The company had a trading volume of 6,772,444 shares, compared to its average volume of 8,675,299. The firm has a market cap of $20.56 billion, a PE ratio of 7.02, a P/E/G ratio of 1.20 and a beta of 1.00. The stock has a fifty day moving average price of $31.52 and a 200 day moving average price of $33.93. 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 fifty-two week low of $25.89 and a fifty-two week high of $49.35.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 earnings per share. On average, equities analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is presently 21.87%.

About Devon Energy

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.