PKO Investment Management Joint Stock Co Invests $742,000 in Devon Energy Co. (NYSE:DVN)

PKO Investment Management Joint Stock Co purchased a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,661 shares of the energy company's stock, valued at approximately $742,000.

Several other large investors have also modified their holdings of DVN. Vanguard Group Inc. raised its stake in shares of Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Devon Energy during the fourth quarter worth approximately $154,170,000. Fuller & Thaler Asset Management Inc. raised its stake in shares of Devon Energy by 42.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock worth $340,236,000 after purchasing an additional 3,114,656 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Devon Energy by 135.5% during the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company's stock worth $175,810,000 after purchasing an additional 3,090,585 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Devon Energy by 32.8% during the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after purchasing an additional 2,335,473 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DVN. Bank of America dropped their price objective on Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Wall Street Zen raised Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Truist Financial upped their price objective on Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Citigroup dropped their price objective on Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Finally, Piper Sandler dropped their price objective on Devon Energy from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of "Moderate Buy" and an average price target of $43.71.

Devon Energy Stock Performance

Shares of DVN stock traded up $0.83 during trading hours on Monday, reaching $31.09. The stock had a trading volume of 10,155,338 shares, compared to its average volume of 8,682,908. 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 twelve month low of $25.89 and a twelve month high of $49.35. The firm has a 50-day simple moving average of $31.52 and a 200-day simple moving average of $33.93. The firm has a market capitalization of $19.96 billion, a PE ratio of 6.82, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results 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 company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business's quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. As a group, equities analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.24 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.09%. Devon Energy's dividend payout ratio is presently 21.87%.

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.