Prescott Group Capital Management L.L.C. purchased a new position in Devon Energy Corporation (NYSE:DVN – Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,000 shares of the energy company’s stock, valued at approximately $1,381,000.
Other large investors also recently modified their holdings of the company. Morningstar Investment Management LLC grew its holdings in Devon Energy by 51.1% during the first quarter. Morningstar Investment Management LLC now owns 86,151 shares of the energy company’s stock valued at $4,335,000 after purchasing an additional 29,124 shares during the period. Artemis Investment Management LLP grew its stake in shares of Devon Energy by 103.8% during the 3rd quarter. Artemis Investment Management LLP now owns 1,465,225 shares of the energy company’s stock valued at $67,459,000 after acquiring an additional 746,360 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Devon Energy during the 2nd quarter valued at approximately $33,504,000. Illinois Municipal Retirement Fund increased its holdings in Devon Energy by 15.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock worth $9,801,000 after acquiring an additional 26,209 shares in the last quarter. Finally, NewEdge Wealth LLC raised its stake in Devon Energy by 20.0% during the 1st quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock worth $24,138,000 after acquiring an additional 80,000 shares during the period. Institutional investors own 69.72% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on DVN. Stifel Nicolaus assumed coverage on shares of Devon Energy in a report on Thursday, September 10th. They set a “buy” rating and a $61.00 price target on the stock. Seaport Research Partners initiated coverage on shares of Devon Energy in a research report on Thursday, September 3rd. They set a “buy” rating and a $65.00 price objective on the stock. Weiss Ratings upgraded shares of Devon Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Wells Fargo & Company dropped their target price on shares of Devon Energy from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, September 28th. Finally, Susquehanna increased their price target on Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Two investment 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. According to MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and an average price target of $60.72.
View Our Latest Stock Report on Devon Energy
Insider Transactions at Devon Energy
In other news, CEO Clay Gaspar purchased 3,913 shares of the business’s stock in a transaction on Monday, September 14th. The stock was acquired at an average price of $51.08 per share, for a total transaction of $199,876.04. Following the acquisition, the chief executive officer directly owned 619,152 shares of the company’s stock, valued at $31,626,284.16. This represents a 0.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were 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 directly owned 72,720 shares of the company’s stock, valued at approximately $3,705,084. This trade represents a 8.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.58% of the company’s stock.
Devon Energy Trading Down 2.2%
Shares of DVN opened at $47.58 on Wednesday. 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 1 year low of $31.91 and a 1 year high of $52.71. The company has a 50 day simple moving average of $48.88 and a two-hundred day simple moving average of $45.94. The firm has a market cap of $52.34 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 1.27 and a beta of 0.43.
Devon Energy (NYSE:DVN – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $6.01 billion. During the same quarter last year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was up 73.1% compared to the same quarter last year. On average, equities analysts expect that Devon Energy Corporation will post 5.49 earnings per share for the current fiscal year.
Devon Energy News Roundup
Here are the key news stories impacting Devon Energy this week:
- Positive Sentiment: Pre-earnings coverage points to rising analyst estimates, production prospects and potential synergies from the Coterra merger—factors that could support results and the outlook. These are expectations, not reported Q3 results. Devon Energy to Report Q3 Earnings: Buy, Sell or Hold the Stock?
- Positive Sentiment: A Zacks article characterized DVN as a strong value stock, which may appeal to value-focused investors, though the supplied details do not give a specific valuation target. Here’s Why Devon Energy (DVN) is a Strong Value Stock
- Neutral Sentiment: Analyst previews examine expected Q3 metrics for the quarter ended September 2026, but the articles provided do not include specific forecasts or actual results. Investors may look to the report for confirmation of estimates and production trends. What Analyst Projections for Key Metrics Reveal About Devon Energy (DVN) Q3 Earnings
- Neutral Sentiment: OPEC+ kept its December production plan unchanged. The article cited Brent spot crude at $123.10 per barrel; firm oil prices can support producers like Devon, while supply and commodity-price shifts remain key risks. Oil Enters November With OPEC+ Holding Steady and Five Producers Set to Report
Devon Energy Company Profile
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.
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