Koss Olinger Consulting LLC Trims Holdings in Devon Energy Corporation $DVN

Koss Olinger Consulting LLC cut its stake in Devon Energy Corporation (NYSE:DVN) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,145 shares of the energy company’s stock after selling 2,092 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Devon Energy were worth $1,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SVB Wealth LLC boosted its stake in Devon Energy by 4.1% during the 1st quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after purchasing an additional 321 shares during the last quarter. Yousif Capital Management LLC raised its holdings in Devon Energy by 0.4% in the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock worth $2,776,000 after purchasing an additional 321 shares during the period. MAS Advisors LLC raised its holdings in Devon Energy by 4.3% in the 2nd quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock worth $253,000 after purchasing an additional 327 shares during the period. Whittier Trust Co. raised its holdings in Devon Energy by 24.3% during the first quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock valued at $72,000 after acquiring an additional 377 shares during the period. Finally, Callan Family Office LLC raised its holdings in Devon Energy by 3.7% during the first quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock valued at $396,000 after acquiring an additional 377 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Price Performance

NYSE:DVN opened at $32.97 on Monday. The firm’s fifty day moving average is $34.43 and its two-hundred day moving average is $33.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. Devon Energy Corporation has a one year low of $25.89 and a one year high of $40.54. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 2.55 and a beta of 1.03.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company posted $1.41 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s dividend payout ratio is presently 21.52%.

Insider Activity

In other news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the sale, the director directly owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Scotiabank restated an “outperform” rating on shares of Devon Energy in a research report on Thursday, October 9th. William Blair assumed coverage on Devon Energy in a research report on Monday, August 25th. They set an “outperform” rating for the company. Susquehanna lowered their price target on Devon Energy to $41.00 and set a “positive” rating for the company in a report on Monday, October 20th. Wells Fargo & Company reduced their price objective on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Finally, Jefferies Financial Group upped their price target on Devon Energy from $31.00 to $33.00 and gave the stock a “hold” rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.14.

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.