GAMMA Investing LLC Buys 26,026 Shares of Devon Energy Corporation $DVN

Posted by Geri Gentry on Aug 6th, 2026

GAMMA Investing LLC lifted its position in Devon Energy Corporation (NYSE:DVN – Free Report) by 78.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 59,105 shares of the energy company’s stock after purchasing an additional 26,026 shares during the quarter. GAMMA Investing LLC’s holdings in Devon Energy were worth $2,442,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Woodline Partners LP increased its holdings in shares of Devon Energy by 98.8% during the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after buying an additional 57,555 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Devon Energy in the 2nd quarter worth approximately $403,000. Jump Financial LLC boosted its holdings in shares of Devon Energy by 58.8% in the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock worth $899,000 after acquiring an additional 10,464 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Devon Energy by 17.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock worth $4,736,000 after acquiring an additional 22,482 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Devon Energy by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock worth $4,586,000 after acquiring an additional 8,127 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Key Devon Energy News

Here are the key news stories impacting Devon Energy this week:

Positive Sentiment: Quarterly results significantly exceeded expectations. Devon reported adjusted earnings of $1.57 per share versus the $1.40 consensus estimate, while revenue reached $7.42 billion, well above the $6.01 billion expectation. Revenue increased 73.1% year over year, helped by the Coterra merger, stronger oil prices and higher production. Devon Q2 Earnings Surpass Estimates on Strong Oil Output and Pricing
Positive Sentiment: Production and cash generation were strong. Oil output averaged 503,000 barrels per day, at the high end of guidance, while total production averaged 1.359 million barrels of oil equivalent per day. Operating cash flow was $3.7 billion and adjusted free cash flow was approximately $1.7 billion. Devon posts highest quarterly profit since 2022 on stronger oil prices, Coterra deal
Positive Sentiment: Shareholder returns and the balance sheet remain priorities. Devon returned about $1.06 billion through dividends, repurchases and debt retirement, bought back 4.3 million shares for approximately $197 million, and raised its fixed quarterly dividend 33% to $0.32 per share, implying a yield of roughly 3%. Analysts have also highlighted the company’s buyback, debt-reduction plans and 2026 growth outlook. Devon Energy: Focusing On Long-Term Value Creation Via Buybacks And Debt Reduction
Positive Sentiment: Management’s near-term outlook was constructive. Devon expects third-quarter production of 1.66 million to 1.69 million barrels of oil equivalent per day. Capital spending was also about 2% below the guidance midpoint in the second quarter. Devon Energy Reports Second-Quarter 2026 Results
Neutral Sentiment: The Coterra Energy merger materially expanded Devon’s earnings, production and revenue base, but investors may continue evaluating integration execution and whether the enlarged company can sustain these results as commodity prices fluctuate. Devon also agreed to acquire 16,300 net Delaware Basin acres for $2.6 billion, adding future resource potential but increasing capital commitments.
Negative Sentiment: The market’s weaker reaction despite the earnings beat indicates that expectations may already reflect the merger benefits and strong oil prices. Any subsequent decline in commodity prices, production growth or free cash flow could limit further upside.

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 24,342 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president owned 130,540 shares in the company, valued at approximately $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the transaction, the senior vice president directly owned 138,529 shares in the company, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 112,371 shares of company stock valued at $5,258,059 over the last three months. Company insiders own 4.58% of the company’s stock.

Analyst Ratings Changes

DVN has been the subject of a number of recent analyst reports. Wall Street Zen cut Devon Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Devon Energy in a research note on Thursday, June 11th. Wells Fargo & Company raised their target price on Devon Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Wolfe Research set a $67.00 price target on Devon Energy and gave the company an “outperform” rating in a report on Monday, June 22nd. Finally, Citigroup lifted their price target on Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Two equities research 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.56.

Check Out Our Latest Analysis on Devon Energy

Devon Energy Trading Down 4.4%

Shares of NYSE DVN opened at $42.09 on Thursday. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71. The firm has a market capitalization of $26.16 billion, a P/E ratio of 10.00 and a beta of 0.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The company’s 50 day simple moving average is $43.52 and its 200 day simple moving average is $44.83.

Devon Energy (NYSE:DVN – Get Free Report) last released its earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. The firm had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 21.29%. The business’s quarterly revenue was up 73.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. On average, analysts predict that Devon Energy Corporation will post 4.64 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. Devon Energy’s payout ratio is 30.40%.

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.