GQG Partners LLC Invests $402.56 Million in Devon Energy Corporation $DVN

GQG Partners LLC bought a new position in shares of Devon Energy Corporation (NYSE:DVN – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,742,444 shares of the energy company’s stock, valued at approximately $402,558,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Devon Energy during the 4th quarter valued at about $25,000. JFS Wealth Advisors LLC lifted its position in shares of Devon Energy by 56.6% in the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after buying an additional 245 shares in the last quarter. MV Capital Management Inc. purchased a new stake in shares of Devon Energy in the fourth quarter worth about $29,000. KERR FINANCIAL PLANNING Corp bought a new position in Devon Energy during the second quarter valued at approximately $29,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in Devon Energy during the fourth quarter valued at approximately $29,000. 69.72% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, SVP Andrea Alexander sold 18,000 shares of the 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 sale, the senior vice president directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DVN. Wolfe Research set a $67.00 price objective on Devon Energy and gave the stock an “outperform” rating in a research note on Monday, June 22nd. JPMorgan Chase & Co. cut their target price on shares of Devon Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Argus restated a “buy” rating and issued a $45.85 price target on shares of Devon Energy in a research report on Monday, August 17th. Capital One Financial decreased their price target on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 2nd. Finally, Zacks Research lowered shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.15.

Check Out Our Latest Analysis on DVN

Key Headlines Impacting Devon Energy

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

• 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

NYSE DVN opened at $49.19 on Friday. The business’s 50 day moving average price is $43.73 and its 200-day moving average price is $45.45. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71. The company has a market cap 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 company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72.

Devon Energy (NYSE:DVN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The company had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same period last year, the company earned $0.84 earnings per share. Devon Energy’s revenue was up 73.1% on a year-over-year basis. Sell-side analysts predict that Devon Energy Corporation will post 5.2 earnings per share for the current year.

Devon Energy Announces Dividend

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 paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. Devon Energy’s payout ratio is currently 30.40%.

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.

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