Picton Mahoney Asset Management Acquires 200,209 Shares of Devon Energy Corporation $DVN

Picton Mahoney Asset Management lifted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 263.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 276,273 shares of the energy company’s stock after acquiring an additional 200,209 shares during the period. Picton Mahoney Asset Management’s holdings in Devon Energy were worth $9,687,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. South Dakota Investment Council lifted its stake in Devon Energy by 5.8% during the third quarter. South Dakota Investment Council now owns 172,482 shares of the energy company’s stock worth $6,047,000 after purchasing an additional 9,500 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Devon Energy by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 11,845,958 shares of the energy company’s stock worth $415,319,000 after buying an additional 560,652 shares in the last quarter. CI Investments Inc. lifted its position in shares of Devon Energy by 15.0% during the 3rd quarter. CI Investments Inc. now owns 4,727 shares of the energy company’s stock worth $166,000 after buying an additional 615 shares during the period. Focus Partners Advisor Solutions LLC lifted its position in shares of Devon Energy by 10.9% during the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 41,240 shares of the energy company’s stock worth $1,425,000 after buying an additional 4,040 shares during the period. Finally, Journey Strategic Wealth LLC boosted its stake in Devon Energy by 24.6% in the 3rd quarter. Journey Strategic Wealth LLC now owns 9,712 shares of the energy company’s stock valued at $341,000 after buying an additional 1,919 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Down 1.1%

DVN opened at $43.51 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $26.98 billion, a PE ratio of 10.43, a PEG ratio of 4.38 and a beta of 0.56. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $46.15. The firm has a 50-day moving average price of $40.10 and a two-hundred day moving average price of $36.72.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $17.19 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. Devon Energy’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 earnings per share. As a group, equities analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, March 13th. Devon Energy’s dividend payout ratio (DPR) is presently 23.02%.

Analysts Set New Price Targets

Several research firms have issued reports on DVN. Benchmark reiterated a “buy” rating on shares of Devon Energy in a research note on Friday, January 16th. Capital One Financial lowered their target price on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Jefferies Financial Group lifted their price target on shares of Devon Energy from $33.00 to $36.00 and gave the company a “hold” rating in a report on Tuesday, January 20th. Susquehanna boosted their price target on shares of Devon Energy from $47.00 to $52.00 and gave the company a “positive” rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company raised their price objective on shares of Devon Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Twenty-three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.65.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: BMO Capital Markets raised its price target to $55 and maintained an “Outperform” rating, implying roughly 25% upside from the recent price. That call can attract momentum buying and provides a counterweight to recent downgrades. MarketScreener
• Positive Sentiment: Mizuho reaffirmed an Outperform rating and a $51 price target after Devon’s Q4 results (revenue beat at ~$4.12B, EPS roughly in line). That reinforces a view that Devon can deliver near-term operating resilience even as some models get trimmed. Mizuho Reaffirms Outperform
• Positive Sentiment: Heightened Middle East tensions and headlines suggesting strikes involving Iran have prompted analysts and outlets to expect oil-price spikes—an external catalyst that would likely boost cash flow and margins for large U.S. producers like Devon. This macro/geopolitical risk is a potential upside trigger for the stock. Oil price article
• Negative Sentiment: Zacks Research issued a sweeping set of earnings cuts across 2026–2028 (multiple quarterly and full?year downgrades) and carries a “Strong Sell” rating. Notable revisions include FY2026 EPS trimmed to ~$2.86 (from ~$3.68 prior) and FY2027 to ~$3.30 (from ~$4.45), plus sharp cuts to several quarterly estimates (many quarters cut by large percentages). Those revisions increase near?term downside risk as models are repriced and investor sentiment weakens. See the Devon profile for the Zacks coverage reference. Devon profile

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.