Elevation Point Wealth Partners LLC purchased a new stake in shares of Devon Energy Corporation (NYSE:DVN – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 47,366 shares of the energy company’s stock, valued at approximately $1,957,000.
A number of other large investors also recently bought and sold shares of DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Devon Energy during the 4th quarter worth approximately $25,000. JFS Wealth Advisors LLC lifted its stake in shares of Devon Energy by 56.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after purchasing an additional 245 shares during the period. MV Capital Management Inc. acquired a new position in shares of Devon Energy in the 4th quarter valued at $29,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Devon Energy during the second quarter worth $29,000. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in Devon Energy during the fourth quarter worth $29,000. 69.72% of the stock is owned by institutional investors and hedge funds.
Devon Energy Stock Performance
NYSE:DVN opened at $49.19 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The stock has a market capitalization of $54.11 billion, a PE ratio of 11.68, a P/E/G ratio of 1.35 and a beta of 0.38. 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 fifty day moving average of $43.73 and a two-hundred day moving average of $45.48.
Devon Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 15th. Devon Energy’s payout ratio is presently 30.40%.
Devon Energy News Summary
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.
Analyst Ratings Changes
A number of research analysts have weighed in on DVN shares. Capital One Financial cut their price objective on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, June 2nd. Roth Capital reissued a “buy” rating and set a $57.00 target price on shares of Devon Energy in a research note on Tuesday, April 28th. Argus restated a “buy” rating and set a $45.85 target price on shares of Devon Energy in a research report on Monday, August 17th. Wolfe Research set a $67.00 price target on Devon Energy and gave the company an “outperform” rating in a research note on Monday, June 22nd. Finally, The Goldman Sachs Group reduced their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.15.
Check Out Our Latest Analysis on Devon Energy
Insider Transactions at Devon Energy
In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 138,529 shares in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.58% of the company’s stock.
About Devon Energy
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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