National Pension Service Raises Stock Holdings in Devon Energy Corporation $DVN

National Pension Service boosted its stake in Devon Energy Corporation (NYSE:DVN) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,404,965 shares of the energy company’s stock after buying an additional 88,720 shares during the period. National Pension Service owned approximately 0.22% of Devon Energy worth $51,464,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Accredited Wealth Management LLC raised its holdings in Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after buying an additional 308 shares during the period. Ameriflex Group Inc. raised its holdings in Devon Energy by 702.0% in the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after buying an additional 702 shares during the period. Neo Ivy Capital Management purchased a new stake in Devon Energy in the 3rd quarter valued at about $31,000. Olistico Wealth LLC purchased a new stake in Devon Energy in the 4th quarter valued at about $31,000. Finally, Elyxium Wealth LLC purchased a new stake in Devon Energy in the 4th quarter valued at about $31,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting 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 Stock Up 1.0%

Shares of NYSE:DVN opened at $44.54 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The firm has a market capitalization of $27.68 billion, a PE ratio of 12.41 and a beta of 0.43. The firm’s 50-day moving average is $47.96 and its two-hundred day moving average is $42.37. Devon Energy Corporation has a 1 year low of $30.24 and a 1 year high of $52.71.

Devon Energy (NYSE:DVN) last released its 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 return on equity of 15.22% and a net margin of 13.71%.The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was down 14.5% on a year-over-year basis. Analysts predict that Devon Energy Corporation will post 4.24 EPS for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.32 per share. 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 payout ratio is currently 26.74%.

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 24,342 shares of the company’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 sale, the senior vice president directly owned 130,540 shares in the company, valued at approximately $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the sale, the executive vice president owned 428,452 shares in the company, valued at $19,991,570.32. The trade was a 14.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Zacks Research lowered shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Wolfe Research boosted their price target on shares of Devon Energy from $64.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Citigroup boosted their price target on shares of Devon Energy from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Morgan Stanley boosted their price target on shares of Devon Energy from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Finally, Barclays boosted their price target on shares of Devon Energy from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.85.

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.