Tejara Capital Ltd bought a new position in shares of Devon Energy Corporation (NYSE:DVN – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 34,900 shares of the energy company’s stock, valued at approximately $1,442,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tobam boosted its position in shares of Devon Energy by 16.4% during the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock valued at $60,000 after purchasing an additional 230 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Devon Energy by 3.4% in the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after purchasing an additional 236 shares in the last quarter. Retirement Planning Group LLC raised its holdings in shares of Devon Energy by 4.5% in the 2nd quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock worth $233,000 after purchasing an additional 243 shares in the last quarter. JFS Wealth Advisors LLC lifted its stake in Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after purchasing an additional 245 shares during the last quarter. Finally, Catalyst Financial Partners LLC lifted its stake in Devon Energy by 3.9% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after purchasing an additional 254 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have issued reports on DVN. Morgan Stanley decreased their price target on shares of Devon Energy from $66.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Zacks Research lowered Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Barclays cut their target price on Devon Energy from $62.00 to $58.00 and set an “overweight” rating on the stock in a research report on Monday. Jefferies Financial Group increased their price target on Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Devon Energy in a research note on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $59.15.
Devon Energy News Roundup
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
Insider Transactions at Devon Energy
In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction dated 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 $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.58% of the company’s stock.
Devon Energy Trading Up 2.4%
NYSE:DVN opened at $49.35 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71. The stock’s 50-day moving average is $43.65 and its two-hundred day moving average is $45.42. The stock has a market cap of $54.28 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.37 and a beta of 0.38.
Devon Energy (NYSE:DVN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. The business 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 14.93%. The firm’s revenue was up 73.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. As a group, equities research analysts forecast that Devon Energy Corporation will post 5.04 earnings per share for the current fiscal year.
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 given 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 yield of 2.6%. Devon Energy’s dividend payout ratio (DPR) is presently 30.40%.
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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