Traders Purchase High Volume of Devon Energy Call Options (NYSE:DVN)

Posted by George Bondi on Nov 6th, 2026

Devon Energy Corporation (NYSE:DVN – Get Free Report) was the recipient of some unusual options trading activity on Friday. Investors bought 36,643 call options on the company. This represents an increase of approximately 49% compared to the average daily volume of 24,561 call options.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DVN shares. Morgan Stanley increased their price objective on Devon Energy from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Wells Fargo & Company cut their target price on Devon Energy from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, September 28th. Scotiabank started coverage on Devon Energy in a research note on Wednesday, October 14th. They set a “sector outperform” rating and a $61.00 target price for the company. Susquehanna increased their target price on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Finally, Mizuho reduced their price target on shares of Devon Energy from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.61.

Check Out Our Latest Stock Analysis on DVN

Devon Energy Trading Down 1.7%

NYSE:DVN traded down $0.73 during trading hours on Friday, hitting $42.15. 10,011,736 shares of the company were exchanged, compared to its average volume of 12,844,420. The company has a fifty day simple moving average of $48.74 and a 200 day simple moving average of $46.01. Devon Energy has a one year low of $32.49 and a one year high of $52.71. The stock has a market capitalization of $46.37 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 1.15 and a beta of 0.43. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24.

Devon Energy (NYSE:DVN – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The energy company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.09. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. The business’s quarterly revenue was up 66.5% on a year-over-year basis. Sell-side analysts expect that Devon Energy will post 5.49 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, December 15th. Devon Energy’s dividend payout ratio (DPR) is presently 30.40%.

Insider Activity

In related news, CEO Clay M. Gaspar acquired 3,913 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of $51.08 per share, for a total transaction of $199,876.04. Following the completion of the acquisition, the chief executive officer directly owned 619,152 shares in the company, valued at approximately $31,626,284.16. This trade represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through 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 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 owned 72,720 shares in the company, valued at approximately $3,705,084. This trade represents a 8.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.58% of the company’s stock.

Institutional Investors Weigh In On Devon Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP raised its position in shares of Devon Energy by 2.6% during the third quarter. Allworth Financial LP now owns 30,448 shares of the energy company’s stock worth $1,402,000 after purchasing an additional 786 shares during the period. Fisher Asset Management LLC boosted its holdings in Devon Energy by 7.2% during the 3rd quarter. Fisher Asset Management LLC now owns 56,976 shares of the energy company’s stock worth $2,623,000 after acquiring an additional 3,847 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in Devon Energy by 16.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 69,135 shares of the energy company’s stock worth $3,183,000 after acquiring an additional 9,783 shares during the last quarter. Joel Isaacson & Co. LLC purchased a new position in Devon Energy during the 3rd quarter worth $272,000. Finally, Jefferies Financial Group Inc. grew its stake in shares of Devon Energy by 229.6% in the 3rd quarter. Jefferies Financial Group Inc. now owns 680,720 shares of the energy company’s stock worth $31,340,000 after acquiring an additional 474,219 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Key Headlines Impacting Devon Energy

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

Positive Sentiment: Devon reported third-quarter adjusted earnings of $1.42 per share, above analyst estimates, with production growth contributing to the results. The company also generated about $2 billion in free cash flow and plans to accelerate share repurchases; management raised expected merger synergies. Devon Energy Posts $2 Billion in Free Cash Flow as Buybacks Accelerate
Positive Sentiment: Devon declared a quarterly dividend of $0.32 per share, equivalent to $1.28 annually and a yield of about 3%.
Neutral Sentiment: Activist investor TOMS Capital renewed its call for Devon to consider a sale, saying it is willing to engage with interested acquirers. The prospect of a transaction could offer potential upside, but the renewed campaign also adds uncertainty around the company’s strategy. TCIM statement on Devon’s strategic review
Negative Sentiment: Despite the earnings beat, reports said third-quarter revenue fell short of estimates. That may temper investor enthusiasm, even though revenue grew substantially year over year. Devon Q3 earnings outpace estimates, revenue misses
Negative Sentiment: Barclays lowered its price target from $60 to $57, though it maintained an “overweight” rating.

About Devon Energy

(Get 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.