O Shaughnessy Asset Management LLC reduced its stake in shares of Devon Energy Corporation (NYSE:DVN – Free Report) by 42.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 352,197 shares of the energy company’s stock after selling 262,511 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Devon Energy were worth $12,901,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in DVN. AQR Capital Management LLC lifted its position in shares of Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after buying an additional 2,802,137 shares in the last quarter. Sourcerock Group LLC lifted its position in shares of Devon Energy by 2,132.3% during the 2nd quarter. Sourcerock Group LLC now owns 1,751,276 shares of the energy company’s stock valued at $55,708,000 after buying an additional 1,672,824 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Devon Energy by 446.7% during the 4th quarter. SG Americas Securities LLC now owns 1,236,301 shares of the energy company’s stock valued at $45,286,000 after buying an additional 1,010,170 shares in the last quarter. MUFG Securities EMEA plc lifted its position in shares of Devon Energy by 7,667.4% during the 4th quarter. MUFG Securities EMEA plc now owns 943,817 shares of the energy company’s stock valued at $34,572,000 after buying an additional 931,666 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Devon Energy by 704.3% during the 3rd quarter. Wellington Management Group LLP now owns 975,114 shares of the energy company’s stock valued at $34,187,000 after buying an additional 853,875 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on DVN shares. JPMorgan Chase & Co. initiated coverage on Devon Energy in a research report on Monday. They set an “overweight” rating and a $62.00 price objective on the stock. Jefferies Financial Group boosted their price target on Devon Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Raymond James Financial raised Devon Energy from an “outperform” rating to a “strong-buy” rating and set a $72.00 price target on the stock in a report on Tuesday, May 5th. Mizuho boosted their price target on Devon Energy from $62.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Zacks Research cut Devon Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.67.
Devon Energy Stock Performance
NYSE:DVN opened at $44.00 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. Devon Energy Corporation has a 1 year low of $31.45 and a 1 year high of $52.71. The stock’s 50 day simple moving average is $47.32 and its two-hundred day simple moving average is $42.93. The company has a market cap of $27.34 billion, a price-to-earnings ratio of 12.26 and a beta of 0.37.
Devon Energy (NYSE:DVN – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the previous year, the firm earned $0.82 EPS. The business’s revenue was down 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Devon Energy Corporation will post 4.41 earnings per share for the current fiscal year.
Devon Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio is presently 26.74%.
Devon Energy News Summary
Here are the key news stories impacting Devon Energy this week:
- Positive Sentiment: J.P. Morgan initiated/updated coverage on Devon Energy with an Overweight rating and a $62 price target, signaling meaningful upside from current levels and reinforcing bullish sentiment on the stock. JPMorgan coverage update
- Positive Sentiment: Barclays also reiterated a Buy view, adding to a cluster of favorable analyst calls that support the stock’s valuation. Barclays buy rating
- Positive Sentiment: Devon Energy released an updated 2026 outlook after completing its merger with Coterra, projecting 1.38 million boe/d of production, about $4.9 billion in capital spending, and plans to return up to 70% of free cash flow to shareholders through dividends and buybacks. Updated 2026 outlook
- Positive Sentiment: The company said it expects roughly $600 million in synergies by 2027 and is targeting $1.0 billion in annual pretax synergy run-rate by year-end 2027, which could improve margins and cash generation. Reuters merger forecast
- Neutral Sentiment: Devon also extended deadlines and reported strong early participation in its private exchange offers for Coterra notes, a mostly technical balance-sheet transaction that should help simplify the post-merger capital structure, but is less likely to drive the stock by itself. Exchange offer results
- Neutral Sentiment: The new guidance emphasizes an investment-grade balance sheet and planned debt reduction, which is supportive but largely consistent with management’s long-term capital-return strategy. GlobeNewswire outlook
- Negative Sentiment: Despite the upbeat strategic updates, DVN has been under pressure recently, likely reflecting caution around integration risk, capital spending needs, and oil and gas price volatility after the merger.
Insider Buying and Selling
In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction that occurred 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 owned 428,452 shares of the company’s stock, valued at $19,991,570.32. The trade was a 14.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total value of $1,149,185.82. Following the transaction, the senior vice president directly owned 130,540 shares in the company, valued at approximately $6,162,793.40. This represents a 15.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.58% of the company’s stock.
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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