Robeco Institutional Asset Management B.V. Sells 249,554 Shares of Devon Energy Corporation $DVN

Robeco Institutional Asset Management B.V. lessened its holdings in Devon Energy Corporation (NYSE:DVN - Free Report) by 95.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,537 shares of the energy company's stock after selling 249,554 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Devon Energy were worth $367,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Opal Wealth Advisors LLC acquired a new stake in shares of Devon Energy in the 2nd quarter valued at approximately $25,000. Financial Gravity Asset Management Inc. bought a new position in Devon Energy during the first quarter worth $26,000. Banque Cantonale Vaudoise acquired a new stake in shares of Devon Energy during the first quarter worth $26,000. Trust Co. of Vermont raised its stake in Devon Energy by 241.3% in the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company's stock valued at $30,000 after purchasing an additional 666 shares in the last quarter. Finally, Rakuten Securities Inc. raised its stake in Devon Energy by 94.6% in the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after purchasing an additional 405 shares in the last quarter. Institutional investors own 69.72% of the company's stock.

Insider Activity

In other news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the transaction, the director owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wolfe Research boosted their price target on Devon Energy from $47.00 to $49.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Bernstein Bank cut their price objective on shares of Devon Energy from $45.00 to $43.00 and set an "outperform" rating on the stock in a report on Monday, July 7th. Siebert Williams Shank boosted their price objective on Devon Energy from $47.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Mizuho dropped their price objective on shares of Devon Energy from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Finally, UBS Group upped their price target on Devon Energy from $37.00 to $40.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Devon Energy currently has a consensus rating of "Moderate Buy" and an average target price of $43.48.

Devon Energy Price Performance

NYSE DVN opened at $34.97 on Thursday. The stock has a 50-day moving average of $34.49 and a 200 day moving average of $33.15. The company has a market capitalization of $22.20 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 2.04 and a beta of 1.03. Devon Energy Corporation has a one year low of $25.89 and a one year high of $43.29. 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 (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The firm had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the previous year, the firm earned $1.41 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy's dividend payout ratio is 21.52%.

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.

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