Vise Technologies Inc. purchased a new position in shares of Devon Energy Corporation (NYSE:DVN – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 62,046 shares of the energy company’s stock, valued at approximately $2,564,000.
Several other institutional investors also recently added to or reduced their stakes in DVN. Asahi Life Asset Management CO. LTD. purchased a new stake in Devon Energy in the second quarter valued at approximately $397,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Devon Energy during the second quarter worth approximately $585,000. AssuredPartners Investment Advisors LLC purchased a new position in shares of Devon Energy during the second quarter worth approximately $3,747,000. Johnson Financial Group Inc. acquired a new position in shares of Devon Energy in the 2nd quarter valued at $1,729,000. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Devon Energy in the 2nd quarter valued at $1,408,000. Institutional investors and hedge funds own 69.72% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Devon Energy from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Argus restated a “buy” rating and issued a $45.85 price objective on shares of Devon Energy in a research note on Monday, August 17th. Zacks Research cut shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Capital One Financial decreased their target price on shares of 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, Wells Fargo & Company lowered their price target on Devon Energy from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.15.
Devon Energy Stock Down 0.2%
Shares of NYSE DVN opened at $49.19 on Friday. 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. The firm has a 50-day moving average price of $43.73 and a 200 day moving average price of $45.45. The stock has a market capitalization of $54.11 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38.
Devon Energy (NYSE:DVN – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The firm’s revenue was up 73.1% on a year-over-year basis. Equities research analysts anticipate that Devon Energy Corporation will post 5.2 EPS for the current fiscal year.
Devon Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. Devon Energy’s dividend payout ratio is currently 30.40%.
Insider Buying and Selling at Devon Energy
In related news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 138,529 shares of the company’s stock, 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 at this hyperlink. 4.58% of the stock is currently owned by corporate insiders.
Trending Headlines about Devon Energy
Here are the key news stories impacting Devon Energy this week:
- Positive Sentiment: Zacks Research raised its Q2 2027 EPS forecast to $1.05 from $1.03 and its FY2028 estimate to $4.76 from $4.73. These modest upgrades suggest some confidence in Devon Energy’s longer-term earnings potential. Zacks Research Raises Earnings Estimates for Devon Energy
- Neutral Sentiment: Devon Energy announced a major executive leadership reshuffle effective August 20. The change could improve execution or strategic focus, but the available report does not provide enough detail to determine its financial impact. Devon Energy Announces Major Executive Leadership Reshuffle
- Neutral Sentiment: Analysts published commentary covering Devon Energy and Plains All American, but the available headline does not disclose a specific rating change, target-price adjustment, or forecast that would clearly move DVN shares. Analysts Offer Insights on Energy Companies: Plains All American and Devon Energy
- Negative Sentiment: Zacks cut its Q3 2026 EPS forecast to $1.13 from $1.24, Q3 2027 to $0.89 from $1.19, Q4 2027 to $1.04 from $1.23, and FY2027 to $4.29 from $4.70. The reductions outweigh the small upward revisions and may pressure sentiment. Zacks maintains a “Hold” rating.
Devon Energy Company 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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