Robeco Institutional Asset Management B.V. Sells 83,318 Shares of Devon Energy Corporation (NYSE:DVN)

Robeco Institutional Asset Management B.V. lessened its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 24.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 261,091 shares of the energy company's stock after selling 83,318 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Devon Energy were worth $9,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hurley Capital LLC bought a new stake in shares of Devon Energy during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. increased its position in Devon Energy by 94.6% during the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock worth $31,000 after purchasing an additional 405 shares in the last quarter. Accredited Wealth Management LLC acquired a new position in Devon Energy during the 4th quarter worth approximately $28,000. Salem Investment Counselors Inc. increased its position in Devon Energy by 46.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company's stock worth $47,000 after purchasing an additional 400 shares in the last quarter. Finally, Sound Income Strategies LLC increased its position in Devon Energy by 100.1% during the 1st quarter. Sound Income Strategies LLC now owns 1,911 shares of the energy company's stock worth $71,000 after purchasing an additional 956 shares in the last quarter. Institutional investors own 69.72% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DVN shares. Citigroup lowered their price objective on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Mizuho lowered their price objective on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley upped their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Bank of America decreased their price target on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, Raymond James Financial set a $40.00 price target on shares of Devon Energy in a research report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $32.26 on Monday. The company has a 50 day moving average of $32.21 and a 200 day moving average of $33.41. The stock has a market cap of $20.71 billion, a P/E ratio of 7.35, a P/E/G ratio of 2.40 and a beta of 1.02. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $49.35. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57.

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 the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.98%. Devon Energy's payout ratio is 21.87%.

Devon Energy Company 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.

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