Readystate Asset Management LP bought a new position in Devon Energy Corporation (NYSE:DVN – Free Report) during the first quarter, HoldingsChannel reports. The fund bought 76,766 shares of the energy company’s stock, valued at approximately $3,863,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Devon Energy in the fourth quarter worth about $25,000. MV Capital Management Inc. bought a new position in shares of Devon Energy during the 4th quarter valued at approximately $29,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Devon Energy during the 4th quarter valued at approximately $29,000. Elyxium Wealth LLC purchased a new stake in Devon Energy in the 4th quarter worth approximately $31,000. Finally, DV Equities LLC purchased a new position in Devon Energy during the fourth quarter valued at approximately $32,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.
Devon Energy Trading Down 1.0%
Shares of DVN opened at $42.72 on Wednesday. The company’s fifty day moving average is $43.82 and its 200 day moving average is $44.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. The stock has a market capitalization of $26.55 billion, a PE ratio of 11.90 and a beta of 0.38. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71.
Devon Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.32 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 3.0%. Devon Energy’s dividend payout ratio is currently 35.65%.
Wall Street Analyst Weigh In
Several analysts have recently commented on DVN shares. Roth Capital restated a “buy” rating and set a $57.00 price objective on shares of Devon Energy in a research report on Tuesday, April 28th. Raymond James Financial cut their price target on Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 16th. Argus boosted their price objective on Devon Energy from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Capital One Financial dropped their price objective on Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday, June 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Devon Energy in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $59.56.
View Our Latest Analysis on Devon Energy
Insider Buying and Selling at Devon Energy
In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the 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 sale, the senior vice president owned 138,529 shares in the company, valued at $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the sale, the senior vice president owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 112,371 shares of company stock valued at $5,258,059 in the last quarter. 4.58% of the stock is owned by insiders.
Devon Energy Profile
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.
Featured Stories
- Five stocks we like better than Devon Energy
- These 3 Stocks Have Soared in 2026—Can They Keep Climbing?
- Hasbro’s Earnings Beat Shows Why This Is No Longer Just a Toy Story
- Rambus: Another AI Phoenix Ready to Rise From the Ashes of Correction
- Chips & Clips: Memory Tariffs Rewire Tech Supply Chains
Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Corporation (NYSE:DVN – Free Report).
Receive News & Ratings for Devon Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy and related companies with MarketBeat.com's FREE daily email newsletter.
