National Pension Service boosted its holdings in Devon Energy Corporation (NYSE:DVN – Free Report) by 6.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,404,965 shares of the energy company’s stock after purchasing an additional 88,720 shares during the quarter. National Pension Service’s holdings in Devon Energy were worth $51,464,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. AQR Capital Management LLC boosted its holdings in Devon Energy by 78.7% in the second quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after purchasing an additional 2,802,137 shares in the last quarter. Sourcerock Group LLC boosted its holdings in Devon Energy by 2,132.3% in the second quarter. Sourcerock Group LLC now owns 1,751,276 shares of the energy company’s stock valued at $55,708,000 after purchasing an additional 1,672,824 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Devon Energy by 446.7% in the fourth quarter. SG Americas Securities LLC now owns 1,236,301 shares of the energy company’s stock valued at $45,286,000 after purchasing an additional 1,010,170 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Devon Energy by 704.3% in the third quarter. Wellington Management Group LLP now owns 975,114 shares of the energy company’s stock valued at $34,187,000 after purchasing an additional 853,875 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Devon Energy in the third quarter valued at approximately $24,766,000. 69.72% of the stock is owned by institutional investors and hedge funds.
Devon Energy Price Performance
DVN stock opened at $44.54 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The business has a 50 day simple moving average of $47.96 and a 200-day simple moving average of $42.37. Devon Energy Corporation has a twelve month low of $30.24 and a twelve month high of $52.71. The company has a market capitalization of $27.68 billion, a P/E ratio of 12.41 and a beta of 0.43.
Devon Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.32 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, June 15th. Devon Energy’s dividend payout ratio is 26.74%.
Key Stories Impacting Devon Energy
Here are the key news stories impacting Devon Energy this week:
- Positive Sentiment: Reuters reported that Devon Energy has received a roughly $8 billion offer for its Marcellus shale assets from Stone Ridge Asset Management, a deal that could unlock significant value and give the company flexibility to reshape its portfolio.
- Positive Sentiment: Zacks Research raised its earnings estimates for Devon Energy across several periods, including FY2026 to $4.39 per share, FY2027 to $4.43, and FY2028 to $4.82, suggesting a stronger long-term earnings outlook.
- Positive Sentiment: Citi recently lifted its price target on Devon Energy to $65 from $60 while keeping a Buy rating, indicating at least some analysts still see upside from current levels. Article: Citi Raises its Price Target on Devon Energy (DVN)
- Neutral Sentiment: Zacks Research maintained a Hold rating despite the higher estimates, so the upgrade in earnings forecasts was not paired with a more bullish stock recommendation.
- Negative Sentiment: Devon was downgraded by Zacks Research from Strong Buy to Hold, which may have added to near-term caution around the shares.
Insider Buying and Selling at Devon Energy
In related news, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the sale, the senior vice president directly owned 130,540 shares of the company’s stock, valued at $6,162,793.40. This trade represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $46.66, for a total value of $3,267,553.14. Following the sale, the executive vice president directly owned 428,452 shares of the company’s stock, valued at approximately $19,991,570.32. This represents a 14.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on DVN shares. Citigroup upped their price target on Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. BMO Capital Markets upped their price target on Devon Energy from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Sanford C. Bernstein upped their price target on Devon Energy from $42.00 to $59.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Barclays upped their price target on Devon Energy from $54.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Zacks Research downgraded Devon Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.85.
View Our Latest Analysis on DVN
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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