Kieckhefer Group LLC Cuts Stock Position in Devon Energy Corporation (NYSE:DVN)

Kieckhefer Group LLC cut its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 39.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,711 shares of the energy company's stock after selling 9,750 shares during the period. Devon Energy makes up about 0.4% of Kieckhefer Group LLC's investment portfolio, making the stock its 27th largest holding. Kieckhefer Group LLC's holdings in Devon Energy were worth $550,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DVN. Hurley Capital LLC purchased a new position in shares of Devon Energy during the fourth quarter valued at approximately $26,000. Accredited Wealth Management LLC purchased a new position in shares of Devon Energy in the 4th quarter worth $28,000. Rakuten Securities Inc. grew its holdings in shares of Devon Energy by 94.6% in the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock worth $31,000 after acquiring an additional 405 shares during the period. Salem Investment Counselors Inc. lifted its stake in shares of Devon Energy by 46.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company's stock valued at $47,000 after buying an additional 400 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in Devon Energy by 100.1% in the 1st quarter. Sound Income Strategies LLC now owns 1,911 shares of the energy company's stock worth $71,000 after buying an additional 956 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Stock Performance

Shares of DVN stock traded up $0.44 during trading hours on Wednesday, hitting $33.09. The company's stock had a trading volume of 2,745,134 shares, compared to its average volume of 8,818,779. The company has a 50 day moving average of $32.29 and a 200 day moving average of $33.39. The stock has a market cap of $21.24 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $49.35.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The firm had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. On average, sell-side analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.90%. Devon Energy's dividend payout ratio (DPR) is 21.87%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DVN. Wall Street Zen raised Devon Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Scotiabank lowered their price objective on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group boosted their target price on Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Barclays increased their price target on Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Devon Energy from $46.00 to $41.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $43.50.

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.