Robeco Institutional Asset Management B.V. Raises Position in Devon Energy Co. (NYSE:DVN)

Robeco Institutional Asset Management B.V. boosted its position in shares of Devon Energy Co. (NYSE:DVN) by 419.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,018,139 shares of the energy company’s stock after buying an additional 822,096 shares during the period. Robeco Institutional Asset Management B.V. owned 0.16% of Devon Energy worth $39,830,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DVN. Triad Wealth Partners LLC purchased a new stake in shares of Devon Energy during the second quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new stake in Devon Energy during the 2nd quarter valued at about $34,000. PSI Advisors LLC raised 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 valued at $36,000 after acquiring an additional 300 shares during the last quarter. LRI Investments LLC purchased a new position in Devon Energy in the 1st quarter worth approximately $39,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Devon Energy during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

Devon Energy stock opened at $39.33 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The firm has a market cap of $24.63 billion, a PE ratio of 7.14, a price-to-earnings-growth ratio of 1.18 and a beta of 2.03. The company’s 50 day moving average is $40.92 and its two-hundred day moving average is $45.15.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same period last year, the firm earned $1.18 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, research analysts expect that Devon Energy Co. will post 4.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DVN shares. Barclays reduced their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. TD Cowen lowered their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a research report on Tuesday, September 3rd. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Scotiabank reduced their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.