NewEdge Wealth LLC Buys New Shares in Devon Energy Corporation $DVN

NewEdge Wealth LLC purchased a new stake in Devon Energy Corporation (NYSE:DVN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 524,820 shares of the energy company’s stock, valued at approximately $21,686,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Devon Energy during the 4th quarter worth about $25,000. JFS Wealth Advisors LLC lifted its stake 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 valued at $28,000 after buying an additional 245 shares during the period. MV Capital Management Inc. acquired a new stake in Devon Energy during the fourth quarter worth about $29,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Devon Energy during the second quarter worth about $29,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in Devon Energy during the fourth quarter worth about $29,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was 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 in the company, valued at $6,474,845.46. This represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.58% of the stock is currently owned by corporate insiders.

Devon Energy Stock Up 0.7%

Shares of DVN opened at $48.16 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $43.56 and a two-hundred day moving average price of $45.36. The stock has a market cap of $52.98 billion, a price-to-earnings ratio of 11.44, a P/E/G ratio of 1.36 and a beta of 0.38. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $6.01 billion. During the same period in the prior year, the company posted $0.84 EPS. The company’s revenue was up 73.1% compared to the same quarter last year. Equities analysts predict that Devon Energy Corporation will post 5.04 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business 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 $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.7%. Devon Energy’s payout ratio is currently 30.40%.

More Devon Energy News

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

• Positive Sentiment: Devon’s post-merger output reportedly exceeded guidance, suggesting the combined operations may be delivering stronger-than-expected production and improving confidence in near-term results. Devon Energy stock in focus as output tops guidance post-merger
• Positive Sentiment: Zacks Research raised its FY2026 EPS forecast to $4.96 from $4.53 and increased estimates for Q4 2026 to $1.22 from $1.16 and Q1 2027 to $1.31 from $1.26. The upgrades indicate improved expectations for Devon’s earnings trajectory. Devon Energy analyst estimates
• Positive Sentiment: Argus initiated or reaffirmed a “Buy” rating on Devon Energy, adding a favorable Wall Street view as the company benefits from its multi-basin portfolio, low-cost operations and relatively modest leverage. Devon Energy earns Buy rating from Argus
• Neutral Sentiment: Devon’s shares have outperformed the industry over the past month. The company’s diversified production base and cost structure offer support, but earnings remain exposed to oil and natural-gas price swings. DVN stock outperforms industry in a month
• Neutral Sentiment: Despite the higher earnings forecasts, Zacks Research maintains a “Hold” rating, suggesting analysts see balanced upside and risk at current valuation levels.

Analysts Set New Price Targets

Several equities analysts have commented on DVN shares. Truist Financial upped their price target on Devon Energy from $61.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Zacks Research lowered Devon Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Wolfe Research set a $67.00 price objective on Devon Energy and gave the company an “outperform” rating in a research report on Monday, June 22nd. UBS Group cut their target price on Devon Energy from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Scotiabank raised their target price on Devon Energy from $41.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.15.

Devon Energy 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.