Geode Capital Management LLC Acquires 186,743 Shares of Devon Energy Corporation $DVN

Geode Capital Management LLC increased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 1.0% in the fourth quarter, HoldingsChannel reports. The firm owned 19,177,835 shares of the energy company’s stock after buying an additional 186,743 shares during the period. Geode Capital Management LLC’s holdings in Devon Energy were worth $700,238,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of DVN. Accredited Wealth Management LLC grew its holdings in Devon Energy by 61.6% during the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after purchasing an additional 308 shares during the period. Ameriflex Group Inc. grew its holdings in Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after purchasing an additional 702 shares during the period. Neo Ivy Capital Management acquired a new stake in Devon Energy during the third quarter worth approximately $31,000. Olistico Wealth LLC acquired a new stake in Devon Energy during the fourth quarter worth approximately $31,000. Finally, Elyxium Wealth LLC acquired a new stake in Devon Energy during the fourth quarter worth approximately $31,000. Institutional investors own 69.72% of the company’s stock.

Insider Activity at Devon Energy

In other Devon Energy news, SVP Adam M. Vela sold 24,342 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the transaction, the senior vice president directly owned 130,540 shares in the company, valued at $6,162,793.40. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the transaction, the executive vice president owned 428,452 shares of the company’s stock, valued at approximately $19,991,570.32. This represents a 14.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on DVN. Piper Sandler raised their price objective on shares of Devon Energy from $59.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Wolfe Research raised their price objective on shares of Devon Energy from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Argus raised their price objective on shares of Devon Energy from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Tudor Pickering upgraded shares of Devon Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Finally, UBS Group cut their price objective on shares of Devon Energy from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

Devon Energy Stock Up 1.0%

NYSE DVN opened at $44.54 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 1-year low of $30.24 and a 1-year high of $52.71. The company has a 50 day moving average of $47.96 and a 200-day moving average of $42.37. The company has a market cap of $27.68 billion, a price-to-earnings ratio of 12.41 and a beta of 0.43.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The firm’s quarterly revenue was down 14.5% on a year-over-year basis. On average, equities research analysts expect that Devon Energy Corporation will post 4.24 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.32 dividend. The ex-dividend date is Monday, June 15th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. Devon Energy’s dividend payout ratio (DPR) is presently 26.74%.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Reuters reported that Devon Energy has received a roughly $8 billion offer for its Marcellus shale assets from Stone Ridge Asset Management, a deal that could unlock significant value and give the company flexibility to reshape its portfolio.
• Positive Sentiment: Zacks Research raised its earnings estimates for Devon Energy across several periods, including FY2026 to $4.39 per share, FY2027 to $4.43, and FY2028 to $4.82, suggesting a stronger long-term earnings outlook.
• Positive Sentiment: Citi recently lifted its price target on Devon Energy to $65 from $60 while keeping a Buy rating, indicating at least some analysts still see upside from current levels. Article: Citi Raises its Price Target on Devon Energy (DVN)
• Neutral Sentiment: Zacks Research maintained a Hold rating despite the higher estimates, so the upgrade in earnings forecasts was not paired with a more bullish stock recommendation.
• Negative Sentiment: Devon was downgraded by Zacks Research from Strong Buy to Hold, which may have added to near-term caution around the shares.

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.