Klein Pavlis & Peasley Financial Inc. Acquires New Stake in Devon Energy Co. (NYSE:DVN)

Klein Pavlis & Peasley Financial Inc. bought a new position in Devon Energy Co. (NYSE:DVN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,884 shares of the energy company’s stock, valued at approximately $782,000.

A number of other large investors have also recently added to or reduced their stakes in DVN. Financial Advocates Investment Management boosted its position in shares of Devon Energy by 17.9% during the fourth quarter. Financial Advocates Investment Management now owns 13,050 shares of the energy company’s stock worth $427,000 after buying an additional 1,981 shares during the period. Confluence Wealth Services Inc. boosted its stake in shares of Devon Energy by 10.9% during the 4th quarter. Confluence Wealth Services Inc. now owns 60,490 shares of the energy company’s stock worth $1,980,000 after buying an additional 5,954 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Devon Energy by 21.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,492 shares of the energy company’s stock worth $2,366,000 after buying an additional 13,522 shares during the last quarter. Hager Investment Management Services LLC bought a new position in shares of Devon Energy in the 4th quarter valued at about $126,000. Finally, Yousif Capital Management LLC increased its position in shares of Devon Energy by 5.0% in the fourth quarter. Yousif Capital Management LLC now owns 87,385 shares of the energy company’s stock valued at $2,860,000 after acquiring an additional 4,129 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Devon Energy stock opened at $34.14 on Thursday. The stock’s fifty day moving average price is $34.66 and its two-hundred day moving average price is $39.18. The firm has a market cap of $22.42 billion, a PE ratio of 6.33, a price-to-earnings-growth ratio of 1.07 and a beta of 1.98. 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 Co. has a one year low of $30.39 and a one year high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 earnings per share. As a group, research analysts expect that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DVN has been the subject of several recent research reports. TD Cowen reduced their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Susquehanna decreased their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Piper Sandler boosted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Wednesday, January 15th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $49.45.

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.