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

Robeco Institutional Asset Management B.V. increased its position in shares of Devon Energy Co. (NYSE:DVN) by 419.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,018,139 shares of the energy company’s stock after purchasing an additional 822,096 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Devon Energy were worth $39,830,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Lodestone Wealth Management LLC boosted its position in shares of Devon Energy by 22.5% during the 3rd quarter. Lodestone Wealth Management LLC now owns 40,538 shares of the energy company’s stock worth $1,586,000 after acquiring an additional 7,433 shares in the last quarter. Confluence Wealth Services Inc. boosted its holdings in Devon Energy by 5.2% in the third quarter. Confluence Wealth Services Inc. now owns 54,536 shares of the energy company’s stock valued at $2,133,000 after purchasing an additional 2,678 shares in the last quarter. Clear Creek Financial Management LLC increased its stake in Devon Energy by 7.1% in the third quarter. Clear Creek Financial Management LLC now owns 6,193 shares of the energy company’s stock valued at $242,000 after purchasing an additional 409 shares during the last quarter. Lmcg Investments LLC raised its holdings in Devon Energy by 7.6% during the third quarter. Lmcg Investments LLC now owns 55,962 shares of the energy company’s stock worth $2,189,000 after purchasing an additional 3,969 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in shares of Devon Energy by 12.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,346 shares of the energy company’s stock worth $290,000 after buying an additional 789 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on DVN. StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. UBS Group cut their target price on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Wolfe Research started coverage on Devon Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Raymond James cut their price target on Devon Energy from $58.00 to $51.00 in a research report on Tuesday. Finally, BMO Capital Markets reduced their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.15.

Devon Energy Stock Performance

Shares of DVN stock opened at $39.33 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $40.92 and a 200-day simple moving average of $45.15. The company has a market cap of $24.63 billion, a price-to-earnings ratio of 7.14, a price-to-earnings-growth ratio of 1.18 and a beta of 2.03. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the business posted $1.18 earnings per share. Devon Energy’s revenue was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that Devon Energy Co. will post 4.93 EPS for the current year.

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.