APG Asset Management N.V. reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,295,738 shares of the energy company’s stock after selling 389,543 shares during the quarter. APG Asset Management N.V. owned 0.49% of Devon Energy worth $81,122,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Greenleaf Trust raised its stake in Devon Energy by 1.7% during the 2nd quarter. Greenleaf Trust now owns 22,406 shares of the energy company’s stock valued at $654,000 after purchasing an additional 366 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Devon Energy by 0.8% in the 2nd quarter. Meeder Asset Management Inc. now owns 57,925 shares of the energy company’s stock valued at $1,691,000 after buying an additional 469 shares during the period. Resonant Capital Advisors LLC increased its holdings in Devon Energy by 2.2% in the 2nd quarter. Resonant Capital Advisors LLC now owns 22,876 shares of the energy company’s stock valued at $668,000 after buying an additional 485 shares during the period. Parallel Advisors LLC increased its holdings in Devon Energy by 4.4% in the 2nd quarter. Parallel Advisors LLC now owns 11,743 shares of the energy company’s stock valued at $343,000 after buying an additional 495 shares during the period. Finally, Eqis Capital Management Inc. increased its holdings in Devon Energy by 2.8% in the 2nd quarter. Eqis Capital Management Inc. now owns 21,686 shares of the energy company’s stock valued at $633,000 after buying an additional 583 shares during the period. Hedge funds and other institutional investors own 86.42% of the company’s stock.
Devon Energy stock opened at $38.99 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76. Devon Energy Co. has a 1 year low of $7.73 and a 1 year high of $40.86. The company has a market cap of $26.40 billion, a PE ratio of 216.62, a PEG ratio of 0.32 and a beta of 3.37. The company’s 50-day moving average is $30.99 and its two-hundred day moving average is $27.75.
The firm also recently announced a None dividend, which was paid on Thursday, September 30th. Shareholders of record on Monday, September 13th were given a dividend of $0.49 per share. The ex-dividend date was Friday, September 10th. This represents a yield of 1.7%. Devon Energy’s payout ratio is presently -488.89%.
Several brokerages have issued reports on DVN. Wells Fargo & Company boosted their price target on shares of Devon Energy from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, October 6th. Mizuho boosted their price target on shares of Devon Energy from $35.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, July 15th. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $27.00 to $37.00 in a report on Monday, June 21st. Raymond James reissued a “strong-buy” rating and issued a $26.10 price target (down previously from $40.00) on shares of Devon Energy in a report on Tuesday, July 27th. Finally, The Goldman Sachs Group lowered shares of Devon Energy from a “conviction-buy” rating to a “buy” rating in a report on Thursday, September 9th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $32.18.
Devon Energy 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.
Read More: Initial Coin Offering (ICO)
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