Landscape Capital Management L.L.C. purchased a new position in Devon Energy Corporation (NYSE:DVN – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 50,694 shares of the energy company’s stock, valued at approximately $2,095,000.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in Devon Energy by 57.6% in the second quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock valued at $3,941,054,000 after buying an additional 34,871,366 shares during the period. State Street Corp grew its position in shares of Devon Energy by 0.6% during the 4th quarter. State Street Corp now owns 35,542,293 shares of the energy company’s stock worth $1,301,914,000 after buying an additional 212,074 shares during the period. Geode Capital Management LLC increased its stake in shares of Devon Energy by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company’s stock valued at $700,238,000 after acquiring an additional 186,743 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Devon Energy by 17.5% in the 4th quarter. Victory Capital Management Inc. now owns 13,916,979 shares of the energy company’s stock valued at $509,779,000 after acquiring an additional 2,071,021 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Devon Energy by 137.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,628,124 shares of the energy company’s stock valued at $397,834,000 after acquiring an additional 5,573,172 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.
Devon Energy Stock Performance
DVN opened at $49.19 on Friday. The company has a market capitalization of $54.11 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.35 and a beta of 0.38. The business’s 50-day moving average price is $43.73 and its two-hundred day moving average price is $45.45. Devon Energy Corporation has a 1 year low of $31.47 and a 1 year high of $52.71. 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 is 30.40%.
Insider Buying and Selling at Devon Energy
In other news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.58% of the stock is owned by corporate insiders.
Key Stories Impacting 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.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on DVN. Weiss Ratings upgraded shares of Devon Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Roth Capital reissued a “buy” rating and issued a $57.00 price target on shares of Devon Energy in a report on Tuesday, April 28th. Wolfe Research set a $67.00 price objective on Devon Energy and gave the stock an “outperform” rating in a research note on Monday, June 22nd. The Goldman Sachs Group decreased their target price on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Wall Street Zen raised Devon Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Two research 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’s stock. Based on data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.15.
Read Our Latest Research Report on DVN
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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