Sumitomo Mitsui DS Asset Management Company Ltd Buys 18,924 Shares of Devon Energy Corporation $DVN

Posted by Francis Steltz on Oct 22nd, 2026

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Devon Energy Corporation (NYSE:DVN – Free Report) by 12.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,839 shares of the energy company’s stock after acquiring an additional 18,924 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Devon Energy were worth $8,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DVN. Jeppson Wealth Management LLC bought a new position in shares of Devon Energy during the 3rd quarter valued at approximately $200,000. Bank of Stockton raised its holdings in Devon Energy by 23.5% during the 3rd quarter. Bank of Stockton now owns 17,139 shares of the energy company’s stock valued at $789,000 after buying an additional 3,257 shares during the period. Foundation Resource Management Inc. raised its holdings in Devon Energy by 4.0% during the 3rd quarter. Foundation Resource Management Inc. now owns 158,238 shares of the energy company’s stock valued at $7,285,000 after buying an additional 6,159 shares during the period. Abel Hall LLC bought a new stake in Devon Energy in the third quarter worth $214,000. Finally, Kaufman Rossin Wealth LLC lifted its position in Devon Energy by 9.4% in the third quarter. Kaufman Rossin Wealth LLC now owns 9,272 shares of the energy company’s stock worth $427,000 after buying an additional 799 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Devon Energy

In related news, CEO Clay M. Gaspar bought 3,913 shares of the stock in a transaction dated Monday, September 14th. The stock was purchased at an average cost of $51.08 per share, with a total value of $199,876.04. Following the completion of the purchase, the chief executive officer owned 619,152 shares of the company’s stock, valued at $31,626,284.16. This trade represents a 0.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $50.95, for a total transaction of $344,218.20. Following the completion of the transaction, the executive vice president owned 72,720 shares in the company, valued at approximately $3,705,084. The trade was a 8.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.58% of the stock is currently owned by company insiders.

Trending Headlines about Devon Energy

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

Positive Sentiment: Scotiabank initiated coverage of Devon Energy with a Sector Outperform rating, adding a new bullish view that could support investor sentiment. Scotiabank initiates coverage of Devon Energy with a sector outperform rating
Positive Sentiment: Unusual options activity provided a bullish signal: investors acquired 38,111 call options, approximately 46% above average daily call volume. Call buying can indicate expectations for additional upside, although it does not guarantee future performance.
Positive Sentiment: Zacks highlighted Devon Energy as a strong momentum stock, while its average brokerage recommendation remains equivalent to a Buy. The shares were also trading above their 50-day and 200-day moving averages, reinforcing the constructive technical backdrop. What Makes Devon Energy a Strong Momentum Stock
Neutral Sentiment: Devon Energy was among the most heavily searched stocks on Zacks, signaling heightened investor interest but not necessarily a change in the company’s fundamentals or valuation. Investors Heavily Search Devon Energy
Negative Sentiment: The stock declined despite an overall market uptick, suggesting short-term underperformance and possible profit-taking after a strong run toward its 52-week high. Devon Energy Stock Falls Amid Market Uptick
Negative Sentiment: A Seeking Alpha analysis argued that investors should sell Devon Energy in favor of Permian Resources, creating a contrasting valuation and stock-selection argument that may weigh on sentiment. Sell Devon Energy to Buy Permian Resources

Analyst Ratings Changes

A number of research analysts have weighed in on DVN shares. Mizuho cut their price objective on shares of Devon Energy from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. Weiss Ratings raised shares of Devon Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. The Goldman Sachs Group lowered their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Stifel Nicolaus assumed coverage on shares of Devon Energy in a research note on Thursday, September 10th. They set a “buy” rating and a $61.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of Devon Energy from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $60.72.

View Our Latest Report on DVN

Devon Energy Price Performance

Shares of DVN stock opened at $49.83 on Thursday. Devon Energy Corporation has a 52-week low of $31.65 and a 52-week high of $52.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The firm has a market capitalization of $54.81 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.33 and a beta of 0.49. The stock has a 50 day moving average price of $48.37 and a 200 day moving average price of $46.30.

Devon Energy (NYSE:DVN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The company had revenue of $7.42 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. Devon Energy’s 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. As a group, sell-side analysts predict that Devon Energy Corporation will post 5.39 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is 30.40%.

About Devon Energy

(Free Report)

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.