Varma Mutual Pension Insurance Co acquired a new position in Devon Energy Corporation (NYSE:DVN – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 309,803 shares of the energy company’s stock, valued at approximately $12,801,000.
Several other hedge funds have also recently bought and sold shares of the business. Sumitomo Life Insurance Co. bought a new stake in shares of Devon Energy during the 2nd quarter worth about $616,000. Landscape Capital Management L.L.C. acquired a new position in shares of Devon Energy during the 2nd quarter valued at about $2,095,000. Korea Investment CORP bought a new position in shares of Devon Energy in the 2nd quarter valued at approximately $36,479,000. EP Wealth Advisors LLC bought a new position in shares of Devon Energy in the 2nd quarter valued at approximately $1,977,000. Finally, Ieq Capital LLC acquired a new stake in Devon Energy in the 2nd quarter worth approximately $16,414,000. 69.72% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on DVN. Wall Street Zen raised Devon Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Argus reissued a “buy” rating and issued a $45.85 price target on shares of Devon Energy in a research report on Monday, August 17th. Zacks Research cut shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Barclays lowered their target price on shares of Devon Energy from $62.00 to $58.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Two investment 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.15.
Devon Energy Price Performance
Shares of NYSE:DVN opened at $49.19 on Monday. The firm has a market capitalization of $54.11 billion, a PE ratio of 11.68, a PEG ratio of 1.35 and a beta of 0.38. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a 1-year low of $31.47 and a 1-year high of $52.71. The business’s 50 day moving average is $43.73 and its 200-day moving average is $45.48.
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 analysts’ consensus estimates of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.Devon Energy’s revenue was up 73.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 earnings per share. Sell-side analysts predict that Devon Energy Corporation will post 5.2 earnings per share for the current year.
Devon Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. Devon Energy’s dividend payout ratio is currently 30.40%.
Insider Activity
In other news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the transaction, the senior vice president directly owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.58% of the company’s stock.
Trending Headlines about 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 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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