Devon Energy Corporation $DVN Position Cut by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 8.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 483,395 shares of the energy company’s stock after selling 44,725 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Devon Energy were worth $22,256,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Renasant Bank acquired a new position in shares of Devon Energy during the 3rd quarter valued at about $211,000. Philadelphia Trust Co. raised its holdings in Devon Energy by 4.8% in the 3rd quarter. Philadelphia Trust Co. now owns 243,868 shares of the energy company’s stock worth $11,228,000 after acquiring an additional 11,229 shares during the period. Lido Advisors LLC increased its stake in shares of Devon Energy by 18.1% in the third quarter. Lido Advisors LLC now owns 66,737 shares of the energy company’s stock worth $3,073,000 after purchasing an additional 10,210 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Devon Energy by 1.4% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 129,725 shares of the energy company’s stock worth $5,973,000 after buying an additional 1,754 shares during the last quarter. Finally, 71 West Capital Partners raised its stake in Devon Energy by 2.5% during the 3rd quarter. 71 West Capital Partners now owns 11,004 shares of the energy company’s stock valued at $507,000 after purchasing an additional 268 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy News Summary

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

• Positive Sentiment: Devon’s Q3 earnings-call highlights included record oil and total production, strong free cash flow, accelerated share repurchases, and a disciplined 2027 spending plan. Management also outlined Permian expansion and higher merger synergies, with a target of 5%–10% annual free-cash-flow-per-share growth. Article: Devon Energy Q3 2026 Earnings Call Highlights
• Positive Sentiment: Analyst sentiment remains broadly constructive: JPMorgan raised its target to $68 and Truist to $62, both retaining positive ratings. UBS also maintained a Buy rating despite trimming its target to $62. Article: JPMorgan raises Devon price target
• Neutral Sentiment: After losing 13.4% over four weeks, DVN is described as technically oversold. The article argues that selling pressure may be easing, with upward earnings-estimate revisions offering a possible catalyst for a reversal, though this is not a guarantee. Article: Devon Energy and a potential trend reversal
• Negative Sentiment: Some firms trimmed their targets, including UBS ($65 to $62), Morgan Stanley ($65 to $64), and Susquehanna ($63 to $60). Their ratings remain Buy, Overweight, or Positive, but the reductions temper the otherwise optimistic analyst outlook. Article: UBS price-target update

Insider Buying and Selling

In other news, EVP Robert Ferrall Lowe III sold 6,756 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $50.95, for a total value of $344,218.20. Following the completion of the transaction, the executive vice president directly owned 72,720 shares of the company’s stock, valued at approximately $3,705,084. This represents a 8.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Clay M. Gaspar bought 3,913 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was bought at an average cost of $51.08 per share, with a total value of $199,876.04. Following the completion of the acquisition, the chief executive officer owned 619,152 shares in the company, valued at $31,626,284.16. This represents a 0.64% increase in their position. The SEC filing for this purchase provides additional information. 4.58% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on DVN shares. Morgan Stanley lowered their price target on Devon Energy from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday. Wall Street Zen upgraded Devon Energy from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Mizuho decreased their price objective on Devon Energy from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. BMO Capital Markets restated an “outperform” rating and set a $67.00 price objective on shares of Devon Energy in a research report on Tuesday, October 6th. Finally, Argus restated a “buy” rating and issued a $45.85 target price on shares of Devon Energy in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.49.

Devon Energy Price Performance

NYSE:DVN opened at $43.39 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.70. The company has a 50-day moving average of $48.44 and a 200-day moving average of $46.09. Devon Energy Corporation has a 52 week low of $34.11 and a 52 week high of $52.71. The company has a market capitalization of $49.45 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.10 and a beta of 0.43.

Devon Energy (NYSE:DVN) last posted its earnings results on Thursday, November 5th. The energy company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. Devon Energy had a net margin of 16.22% and a return on equity of 14.86%. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The firm’s revenue for the quarter was up 66.5% on a year-over-year basis. As a group, equities research analysts anticipate that Devon Energy Corporation will post 5.50 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, December 15th. Devon Energy’s payout ratio is presently 32.00%.

Devon Energy Company Profile

Devon Energy Corporation is an independent energy company focused on exploring for and producing oil, natural gas and natural gas liquids. Its activities include developing and operating producing properties and managing the infrastructure needed to bring its products to market. Founded in 1971, Devon is headquartered in Oklahoma City. Its operations are concentrated in U.S. onshore basins, including the Delaware Basin, Eagle Ford, Anadarko, Williston and Powder River basins. The company’s portfolio has evolved through acquisitions and asset sales over its history.