Cadence Wealth Management LLC Takes Position in Devon Energy Corporation $DVN

Cadence Wealth Management LLC acquired a new stake in Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 22,188 shares of the energy company’s stock, valued at approximately $917,000.

A number of other large investors have also recently bought and sold shares of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Devon Energy during the fourth quarter valued at about $25,000. JFS Wealth Advisors LLC boosted its stake in shares of Devon Energy by 56.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after acquiring an additional 245 shares in the last quarter. MV Capital Management Inc. acquired a new position in shares of Devon Energy during the 4th quarter valued at about $29,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Devon Energy in the 2nd quarter valued at approximately $29,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in shares of Devon Energy in the 4th quarter valued at approximately $29,000. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DVN. The Goldman Sachs Group lowered their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings upgraded shares of Devon Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company decreased their price objective on shares of Devon Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Raymond James Financial lowered their target price on shares of Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 16th. Finally, Zacks Research lowered shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.15.

Insider Transactions at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the company’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 value of $841,320.00. Following the completion of the transaction, the senior vice president owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This represents a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.58% of the stock is owned by corporate insiders.

Key Stories Impacting 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 Price Performance

Shares of Devon Energy stock opened at $49.19 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71. The firm has a fifty day moving average price of $43.73 and a two-hundred day moving average price of $45.45. The company has a market cap of $54.11 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. During the same period last year, the business posted $0.84 EPS. The business’s quarterly revenue was up 73.1% on a year-over-year basis. Analysts expect that Devon Energy Corporation will post 5.2 EPS for the current year.

Devon Energy Announces Dividend

The company 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 dividend of $0.32 per share. 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 currently 30.40%.

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.