205,385 Shares in Devon Energy Corporation $DVN Purchased by Jennison Associates LLC

Posted by Francis Steltz on Jul 22nd, 2026

Jennison Associates LLC purchased a new stake in shares of Devon Energy Corporation (NYSE:DVN – Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 205,385 shares of the energy company’s stock, valued at approximately $10,335,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Devon Energy in the fourth quarter worth about $25,000. MV Capital Management Inc. bought a new position in shares of Devon Energy during the fourth quarter valued at approximately $29,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Devon Energy during the fourth quarter valued at approximately $29,000. Olistico Wealth LLC purchased a new stake in shares of Devon Energy in the fourth quarter worth approximately $31,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of Devon Energy in the fourth quarter worth approximately $31,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Devon Energy stock opened at $44.08 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. The company has a market capitalization of $27.39 billion, a PE ratio of 12.28 and a beta of 0.38. The company has a 50 day moving average price of $44.26 and a 200-day moving average price of $44.23. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71.

Devon Energy (NYSE:DVN – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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. The firm’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. As a group, equities analysts forecast that Devon Energy Corporation will post 4.61 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.32 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio (DPR) is currently 35.65%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Truist Financial dropped their price objective on Devon Energy from $66.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Wolfe Research set a $67.00 target price on Devon Energy and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Scotiabank lifted their target price on Devon Energy from $41.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Mizuho boosted their target price on shares of Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group cut their price target on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.56.

Read Our Latest Report on DVN

Insiders Place Their Bets

In other news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the transaction, the senior vice president owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This represents a 11.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the transaction, the executive vice president owned 428,452 shares in the company, valued at approximately $19,991,570.32. This represents a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 112,371 shares of company stock worth $5,258,059. 4.58% of the stock is currently owned by company insiders.

Devon Energy Profile

(Free Report)

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.