Ninepoint Partners LP acquired a new stake in Devon Energy Corporation (NYSE:DVN – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,700,000 shares of the energy company’s stock, valued at approximately $70,244,000. Devon Energy comprises approximately 5.4% of Ninepoint Partners LP’s holdings, making the stock its 3rd largest position.
Several other institutional investors have also added to or reduced their stakes in the business. Woodline Partners LP raised its stake in shares of Devon Energy by 98.8% in the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after purchasing an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Devon Energy during the second quarter valued at $403,000. Jump Financial LLC increased its holdings in 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 buying an additional 10,464 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in 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 buying an additional 22,482 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Devon Energy by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock worth $4,586,000 after buying an additional 8,127 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.
Devon Energy Price Performance
DVN opened at $49.35 on Friday. The business has a fifty day moving average of $43.65 and a 200 day moving average of $45.42. The stock has a market cap of $54.28 billion, a P/E ratio of 11.72, a PEG ratio of 1.37 and a beta of 0.38. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a 52-week low of $31.47 and a 52-week high of $52.71.
Devon Energy Dividend Announcement
The company 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 $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.6%. Devon Energy’s dividend payout ratio is 30.40%.
Key Stories Impacting Devon Energy
Here are the key news stories impacting Devon Energy this week:
- Positive Sentiment: Devon’s production reportedly exceeded guidance following its merger, suggesting potential execution benefits and stronger-than-expected output from the combined portfolio. Devon Energy stock in focus as output tops guidance post-merger
- Positive Sentiment: Argus initiated or reiterated a “Buy” rating on DVN, providing additional support for the stock’s recent strength. Devon Energy Earns Buy Rating from Argus
- Positive Sentiment: Zacks Research raised its FY2026 EPS estimate to $4.96 from $4.53, while increasing estimates for Q4 2026, Q1 2027 and Q1 2028. These revisions indicate better expectations for near-term earnings, though Zacks still rates the shares “Hold.”
- Positive Sentiment: Analyst commentary highlighted Devon’s multi-basin portfolio, low-cost operations and modest leverage as strengths that may help it perform through commodity-price volatility. Shares were reported to have gained 9.2% over the prior month. DVN Stock Outperforms Industry in a Month
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. BMO Capital Markets restated an “outperform” rating on shares of Devon Energy in a research note on Wednesday, June 10th. Wall Street Zen upgraded Devon Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Argus reaffirmed a “buy” rating and set a $45.85 price target on shares of Devon Energy in a report on Monday. Truist Financial increased their target price on Devon Energy from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Wolfe Research set a $67.00 price target on shares of Devon Energy and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.15.
Check Out Our Latest Analysis on Devon Energy
Insider Buying and Selling
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 transaction of $841,320.00. Following the transaction, the senior vice president directly owned 138,529 shares in the company, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.
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