Johnson Financial Group Inc. Invests $1.73 Million in Devon Energy Corporation $DVN

Johnson Financial Group Inc. purchased a new position in shares of Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 41,840 shares of the energy company’s stock, valued at approximately $1,729,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DVN. BlackRock Inc. lifted its stake in shares of Devon Energy by 57.6% in the 2nd quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock worth $3,941,054,000 after acquiring an additional 34,871,366 shares during the period. Pacer Advisors Inc. lifted its position in Devon Energy by 2,108.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock valued at $233,953,000 after purchasing an additional 6,097,658 shares during the period. Bank of New York Mellon Corp lifted its position in Devon Energy by 137.4% in the second quarter. Bank of New York Mellon Corp now owns 9,628,124 shares of the energy company’s stock valued at $397,834,000 after purchasing an additional 5,573,172 shares during the period. Panagora Asset Management Inc. boosted its holdings in Devon Energy by 42,376.5% in the 4th quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock valued at $132,206,000 after purchasing an additional 3,600,731 shares in the last quarter. Finally, Kimmeridge Energy Management Company LLC grew its holdings in Devon Energy by 56.5% during the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock worth $324,204,000 after acquiring an additional 3,195,862 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on DVN shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Devon Energy in a report on Wednesday, June 10th. The Goldman Sachs Group dropped their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Wells Fargo & Company dropped their target price on Devon Energy from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Jefferies Financial Group boosted their price target on Devon Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Finally, Morgan Stanley reduced their target price on Devon Energy from $66.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.15.

Devon Energy News Roundup

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.

Insider Activity at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the transaction, the senior vice president directly owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.58% of the stock is currently owned by corporate insiders.

Devon Energy Stock Performance

DVN opened at $48.16 on Thursday. The business has a fifty day simple moving average of $43.56 and a 200-day simple moving average of $45.36. The firm has a market cap of $52.98 billion, a PE ratio of 11.44, a P/E/G ratio of 1.36 and a beta of 0.38. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm’s quarterly revenue was up 73.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, equities analysts predict that Devon Energy Corporation will post 5.04 EPS for the current fiscal year.

Devon Energy Announces Dividend

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

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.