Devon Energy Co. (NYSE:DVN) Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 419.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,018,139 shares of the energy company's stock after purchasing an additional 822,096 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.16% of Devon Energy worth $39,830,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Triad Wealth Partners LLC bought a new position in Devon Energy in the 2nd quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Devon Energy during the second quarter worth about $34,000. PSI Advisors LLC lifted its holdings in Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company's stock worth $36,000 after purchasing an additional 300 shares in the last quarter. LRI Investments LLC bought a new position in Devon Energy in the 1st quarter worth approximately $39,000. Finally, Future Financial Wealth Managment LLC bought a new position in Devon Energy in the 3rd quarter worth approximately $39,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 1.7 %

Devon Energy stock traded up $0.67 during mid-day trading on Wednesday, reaching $40.01. 17,779,062 shares of the company were exchanged, compared to its average volume of 7,402,570. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The firm has a market cap of $25.05 billion, a P/E ratio of 7.42, a PEG ratio of 1.18 and a beta of 2.03. The business has a fifty day moving average of $40.81 and a 200 day moving average of $45.06. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.72 billion. The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 EPS. Research analysts anticipate that Devon Energy Co. will post 4.93 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Friday, December 13th. Devon Energy's dividend payout ratio is currently 16.33%.

Analyst Ratings Changes

A number of analysts have issued reports on DVN shares. Mizuho reduced their price target on shares of Devon Energy from $53.00 to $51.00 and set an "outperform" rating on the stock in a report on Wednesday, October 9th. Jefferies Financial Group began coverage on Devon Energy in a report on Thursday, October 3rd. They issued a "hold" rating and a $45.00 target price on the stock. Scotiabank dropped their price target on Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on Devon Energy from $64.00 to $51.00 and set an "overweight" rating on the stock in a research note on Thursday, September 12th. Finally, UBS Group lowered their target price on Devon Energy from $53.00 to $47.00 and set a "neutral" rating for the company in a research report on Wednesday, September 18th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $52.15.

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.