Ieq Capital LLC acquired a new position in shares of Devon Energy Corporation (NYSE:DVN – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 397,235 shares of the energy company’s stock, valued at approximately $16,414,000.
A number of other institutional investors and hedge funds have also modified their holdings of DVN. BlackRock Inc. raised its stake in shares of Devon Energy by 57.6% in the second quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock valued at $3,941,054,000 after purchasing an additional 34,871,366 shares in the last quarter. Pacer Advisors Inc. lifted its position in Devon Energy by 2,108.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock worth $233,953,000 after purchasing an additional 6,097,658 shares during the period. Bank of New York Mellon Corp boosted its stake in Devon Energy by 137.4% during the second quarter. Bank of New York Mellon Corp now owns 9,628,124 shares of the energy company’s stock worth $397,834,000 after buying an additional 5,573,172 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Devon Energy by 42,376.5% during the fourth quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock worth $132,206,000 after buying an additional 3,600,731 shares in the last quarter. Finally, Kimmeridge Energy Management Company LLC increased its holdings in Devon Energy by 56.5% in the 4th quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after buying an additional 3,195,862 shares during the period. 69.72% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the transaction, the senior vice president directly owned 138,529 shares in the company, valued at $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.58% of the stock is currently owned by company insiders.
Devon Energy News Summary
- Positive Sentiment: Zacks Research raised its Q2 2027 EPS forecast to $1.05 from $1.03 and its FY2028 estimate to $4.76 from $4.73. These modest upgrades suggest some confidence in Devon Energy’s longer-term earnings potential. Zacks Research Raises Earnings Estimates for Devon Energy
- Neutral Sentiment: Devon Energy announced a major executive leadership reshuffle effective August 20. The change could improve execution or strategic focus, but the available report does not provide enough detail to determine its financial impact. Devon Energy Announces Major Executive Leadership Reshuffle
- Neutral Sentiment: Analysts published commentary covering Devon Energy and Plains All American, but the available headline does not disclose a specific rating change, target-price adjustment, or forecast that would clearly move DVN shares. Analysts Offer Insights on Energy Companies: Plains All American and Devon Energy
- Negative Sentiment: Zacks cut its Q3 2026 EPS forecast to $1.13 from $1.24, Q3 2027 to $0.89 from $1.19, Q4 2027 to $1.04 from $1.23, and FY2027 to $4.29 from $4.70. The reductions outweigh the small upward revisions and may pressure sentiment. Zacks maintains a “Hold” rating.
Devon Energy Stock Performance
Devon Energy stock opened at $49.19 on Friday. The firm has a market capitalization of $54.11 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.35 and a beta of 0.38. The stock has a fifty day moving average price of $43.73 and a two-hundred day moving average price of $45.45. Devon Energy Corporation has a 52-week low of $31.47 and a 52-week high of $52.71. 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 (NYSE:DVN – Get Free Report) last issued its earnings results on Tuesday, August 4th. The energy company reported $1.57 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 company had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 73.1% compared to the same quarter last year. As a group, analysts anticipate that Devon Energy Corporation will post 5.2 EPS for the current fiscal year.
Devon Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is currently 30.40%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on DVN. Wall Street Zen upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Truist Financial lifted their target price on shares of Devon Energy from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Citigroup upped their target price on shares of Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. dropped their price target on shares of Devon Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. 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 for the company in a research note 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.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $59.15.
Get Our Latest Stock Analysis on Devon Energy
Devon Energy 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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