Devon Energy Corporation $DVN Shares Sold by Empowered Funds LLC

Posted by George Bondi on Jul 29th, 2026

Empowered Funds LLC decreased its position in Devon Energy Corporation (NYSE:DVN – Free Report) by 46.3% in the first quarter, Holdings Channel reports. The institutional investor owned 347,250 shares of the energy company’s stock after selling 299,284 shares during the period. Empowered Funds LLC’s holdings in Devon Energy were worth $17,474,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Encompass Capital Advisors LLC purchased a new position in shares of Devon Energy in the 1st quarter valued at about $26,046,000. Excelsior Advisor Network LLC purchased a new position in Devon Energy during the first quarter worth approximately $254,000. Quantinno Capital Management LP boosted its position in Devon Energy by 13.1% during the first quarter. Quantinno Capital Management LP now owns 552,469 shares of the energy company’s stock worth $27,800,000 after purchasing an additional 63,942 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Devon Energy by 643.6% in the first quarter. Lazard Asset Management LLC now owns 562,059 shares of the energy company’s stock valued at $28,283,000 after purchasing an additional 486,473 shares during the period. Finally, Gateway Wealth Partners LLC acquired a new stake in Devon Energy in the first quarter valued at approximately $979,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DVN shares. Barclays upped their target price on Devon Energy from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Zacks Research cut shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Sanford C. Bernstein boosted their price target on shares of Devon Energy from $42.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Susquehanna boosted their price target on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen cut shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.56.

View Our Latest Analysis on Devon Energy

Insider Activity at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the transaction, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the transaction, the executive vice president owned 428,452 shares in the company, valued at $19,991,570.32. The trade was a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 112,371 shares of company stock valued at $5,258,059. 4.58% of the stock is owned by insiders.

Devon Energy Price Performance

NYSE:DVN opened at $42.72 on Wednesday. The stock has a 50 day moving average of $43.82 and a two-hundred day moving average of $44.51. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71. The firm has a market cap of $26.55 billion, a P/E ratio of 11.90 and a beta of 0.38. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN – Get Free Report) last released its earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.02). The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The business’s revenue was down 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 EPS. On average, analysts expect that Devon Energy Corporation will post 4.64 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 3.0%. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio is currently 35.65%.

About Devon Energy

(Free Report)

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.