APG Asset Management N.V. Sells 389,543 Shares of Devon Energy Co. (NYSE:DVN)

APG Asset Management N.V. lessened its holdings in Devon Energy Co. (NYSE:DVN) by 10.6% during the second quarter, HoldingsChannel.com reports. The fund owned 3,295,738 shares of the energy company’s stock after selling 389,543 shares during the period. APG Asset Management N.V.’s holdings in Devon Energy were worth $81,122,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Guinness Asset Management LTD grew its position in Devon Energy by 20.3% in the second quarter. Guinness Asset Management LTD now owns 379,026 shares of the energy company’s stock valued at $10,338,000 after acquiring an additional 63,900 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Devon Energy by 135.4% in the first quarter. Great West Life Assurance Co. Can now owns 155,939 shares of the energy company’s stock valued at $3,394,000 after acquiring an additional 89,683 shares during the last quarter. Squarepoint Ops LLC grew its position in Devon Energy by 88.4% in the first quarter. Squarepoint Ops LLC now owns 486,905 shares of the energy company’s stock valued at $10,639,000 after acquiring an additional 228,468 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Devon Energy in the first quarter valued at about $1,048,000. Finally, Boston Partners bought a new position in Devon Energy in the second quarter valued at about $57,929,000. Hedge funds and other institutional investors own 86.42% of the company’s stock.

Shares of DVN opened at $38.99 on Thursday. Devon Energy Co. has a 52-week low of $7.73 and a 52-week high of $40.86. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50 day moving average price is $30.99 and its two-hundred day moving average price is $27.75. The firm has a market cap of $26.40 billion, a PE ratio of 216.62, a price-to-earnings-growth ratio of 0.32 and a beta of 3.37.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 3rd. The energy company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.07. Devon Energy had a return on equity of 11.95% and a net margin of 4.21%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.38 billion. Research analysts predict that Devon Energy Co. will post 2.78 EPS for the current fiscal year.

The company also recently announced a None dividend, which was paid on Thursday, September 30th. Stockholders of record on Monday, September 13th were given a dividend of $0.49 per share. This represents a dividend yield of 1.7%. The ex-dividend date was Friday, September 10th. Devon Energy’s payout ratio is -488.89%.

A number of research analysts have issued reports on DVN shares. Mizuho lifted their target price on Devon Energy from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, July 15th. Zacks Investment Research cut Devon Energy from a “strong-buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a report on Friday, September 17th. The Goldman Sachs Group cut Devon Energy from a “conviction-buy” rating to a “buy” rating in a report on Thursday, September 9th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $37.00 in a report on Monday, June 21st. Finally, Truist Securities boosted their price target on Devon Energy from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, October 7th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $32.18.

Devon Energy Company Profile

Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Baarnett Shale, STACK, and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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