Devon Energy Corporation $DVN Stock Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its stake in Devon Energy Corporation (NYSE:DVN) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 496,008 shares of the energy company’s stock after acquiring an additional 10,550 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Devon Energy were worth $22,836,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DVN. Premier Financial Group bought a new position in shares of Devon Energy during the 2nd quarter worth $25,000. JFS Wealth Advisors LLC increased its stake in shares of Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after buying an additional 245 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Devon Energy in the second quarter valued at about $28,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Devon Energy in the second quarter valued at about $29,000. Finally, GoalVest Advisory LLC bought a new stake in shares of Devon Energy in the second quarter valued at about $30,000. 69.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Devon Energy news, CEO Clay M. Gaspar acquired 3,913 shares of the company’s stock in a transaction on Monday, September 14th. The shares were bought at an average cost of $51.08 per share, with a total value of $199,876.04. Following the completion of the acquisition, the chief executive officer owned 619,152 shares in the company, valued at approximately $31,626,284.16. This trade represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $50.95, for a total value of $344,218.20. Following the transaction, the executive vice president directly owned 72,720 shares of the company’s stock, valued at approximately $3,705,084. The trade was a 8.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Devon Energy from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, October 2nd. Wall Street Zen raised Devon Energy from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Wells Fargo & Company cut their price objective on shares of Devon Energy from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, September 28th. Citigroup increased their target price on shares of Devon Energy from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, August 31st. Finally, UBS Group raised their target price on shares of Devon Energy from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $60.72.

Devon Energy Stock Up 4.4%

NYSE:DVN opened at $51.34 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. The company’s fifty day moving average price is $48.58 and its 200-day moving average price is $46.34. Devon Energy Corporation has a 1-year low of $31.65 and a 1-year high of $52.71. The firm has a market capitalization of $56.48 billion, a P/E ratio of 12.20, a PEG ratio of 1.30 and a beta of 0.49.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The company’s revenue was up 73.1% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. As a group, equities research analysts anticipate that Devon Energy Corporation will post 5.39 EPS for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. Devon Energy’s dividend payout ratio is 30.40%.

Devon Energy Company Profile

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.