TD Asset Management Inc grew its position in Devon Energy Corporation (NYSE:DVN – Free Report) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 258,152 shares of the energy company’s stock after acquiring an additional 18,108 shares during the quarter. TD Asset Management Inc’s holdings in Devon Energy were worth $9,456,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. grew its stake in Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after buying an additional 702 shares during the last quarter. Accredited Wealth Management LLC grew its stake in shares of Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after purchasing an additional 308 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of Devon Energy in the fourth quarter worth $31,000. Elyxium Wealth LLC bought a new position in shares of Devon Energy in the fourth quarter worth $31,000. Finally, Neo Ivy Capital Management bought a new position in shares of Devon Energy in the third quarter worth $31,000. 69.72% of the stock is currently owned by institutional investors.
Trending Headlines about Devon Energy
Here are the key news stories impacting Devon Energy this week:
- Positive Sentiment: J.P. Morgan initiated/updated coverage on Devon Energy with an Overweight rating and a $62 price target, signaling meaningful upside from current levels and reinforcing bullish sentiment on the stock. JPMorgan coverage update
- Positive Sentiment: Barclays also reiterated a Buy view, adding to a cluster of favorable analyst calls that support the stock’s valuation. Barclays buy rating
- Positive Sentiment: Devon Energy released an updated 2026 outlook after completing its merger with Coterra, projecting 1.38 million boe/d of production, about $4.9 billion in capital spending, and plans to return up to 70% of free cash flow to shareholders through dividends and buybacks. Updated 2026 outlook
- Positive Sentiment: The company said it expects roughly $600 million in synergies by 2027 and is targeting $1.0 billion in annual pretax synergy run-rate by year-end 2027, which could improve margins and cash generation. Reuters merger forecast
- Neutral Sentiment: Devon also extended deadlines and reported strong early participation in its private exchange offers for Coterra notes, a mostly technical balance-sheet transaction that should help simplify the post-merger capital structure, but is less likely to drive the stock by itself. Exchange offer results
- Neutral Sentiment: The new guidance emphasizes an investment-grade balance sheet and planned debt reduction, which is supportive but largely consistent with management’s long-term capital-return strategy. GlobeNewswire outlook
- Negative Sentiment: Despite the upbeat strategic updates, DVN has been under pressure recently, likely reflecting caution around integration risk, capital spending needs, and oil and gas price volatility after the merger.
Insider Buying and Selling
Devon Energy Price Performance
Shares of DVN stock opened at $44.00 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $27.34 billion, a P/E ratio of 12.26 and a beta of 0.37. Devon Energy Corporation has a 12 month low of $31.45 and a 12 month high of $52.71. The stock has a 50 day moving average of $47.32 and a two-hundred day moving average of $42.93.
Devon Energy (NYSE:DVN – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. Devon Energy’s revenue for the quarter was down 14.5% compared to the same quarter last year. As a group, equities analysts expect that Devon Energy Corporation will post 4.41 EPS for the current year.
Devon Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.32 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s payout ratio is presently 26.74%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on DVN shares. TD Cowen increased their price objective on Devon Energy from $46.00 to $50.00 and gave the stock a “hold” rating in a research note on Tuesday, March 17th. Sanford C. Bernstein increased their price objective on Devon Energy from $42.00 to $59.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Zacks Research downgraded Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. UBS Group reduced their price objective on Devon Energy from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Finally, Scotiabank increased their price objective on Devon Energy from $41.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.67.
Read Our Latest Stock Analysis on DVN
About Devon Energy
Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.
Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.
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