Robeco Institutional Asset Management B.V. Sells 673,730 Shares of Devon Energy Co. (NYSE:DVN)

Robeco Institutional Asset Management B.V. lessened its stake in Devon Energy Co. (NYSE:DVN) by 66.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 344,409 shares of the energy company’s stock after selling 673,730 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.05% of Devon Energy worth $11,273,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DVN. EnCap Energy Capital Fund XI L.P. purchased a new position in shares of Devon Energy in the 3rd quarter worth approximately $461,857,000. EnCap Partners GP LLC purchased a new position in Devon Energy in the third quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. bought a new position in Devon Energy in the 3rd quarter valued at $230,928,000. International Assets Investment Management LLC increased its position in shares of Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after purchasing an additional 2,226,983 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 2.7 %

Shares of NYSE DVN opened at $34.09 on Friday. The stock has a market capitalization of $22.39 billion, a P/E ratio of 6.32, a PEG ratio of 1.10 and a beta of 2.00. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The firm’s 50 day simple moving average is $34.89 and its two-hundred day simple moving average is $39.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. As a group, analysts expect that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Analyst Ratings Changes

DVN has been the subject of a number of research analyst reports. Truist Financial decreased their price objective on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a report on Monday, January 13th. TD Cowen dropped their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Scotiabank reduced their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Friday, January 3rd. Finally, Citigroup cut their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.45.

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.