13,695 Devon Energy Corporation $DVN Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its position in Devon Energy Corporation (NYSE:DVN) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,035 shares of the energy company’s stock after buying an additional 13,695 shares during the period. Rakuten Investment Management Inc.’s holdings in Devon Energy were worth $9,275,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Morningstar Investment Management LLC boosted its holdings in shares of Devon Energy by 51.1% during the 1st quarter. Morningstar Investment Management LLC now owns 86,151 shares of the energy company’s stock worth $4,335,000 after buying an additional 29,124 shares in the last quarter. Artemis Investment Management LLP grew its position in shares of Devon Energy by 103.8% during the 3rd quarter. Artemis Investment Management LLP now owns 1,465,225 shares of the energy company’s stock worth $67,459,000 after buying an additional 746,360 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Devon Energy during the 2nd quarter worth approximately $33,504,000. Illinois Municipal Retirement Fund grew its position in shares of Devon Energy by 15.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock worth $9,801,000 after buying an additional 26,209 shares during the period. Finally, NewEdge Wealth LLC increased its stake in shares of Devon Energy by 20.0% in the 1st quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock valued at $24,138,000 after acquiring an additional 80,000 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 2.9%

Shares of Devon Energy stock opened at $42.85 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. Devon Energy Corporation has a 52 week low of $32.06 and a 52 week high of $52.71. The stock has a 50 day moving average price of $48.74 and a two-hundred day moving average price of $46.01. The stock has a market capitalization of $47.13 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 1.15 and a beta of 0.43.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Thursday, November 5th. The energy company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.33 by $0.09. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s quarterly revenue was up 66.5% on a year-over-year basis. As a group, equities analysts anticipate that Devon Energy Corporation will post 5.49 earnings per share for the current fiscal year.

Devon Energy News Summary

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

• Positive Sentiment: Devon earned $1.42 per share, above several analysts’ estimates and up from $1.04 a year earlier. The company reported $6.86 billion in revenue, with year-over-year growth also noted. Reuters report on Devon’s Q3 results
• Neutral Sentiment: Devon published its fourth-quarter outlook and an initial view of 2027 alongside the results, but the supplied report does not provide the guidance figures investors will use to assess the outlook. Devon’s Q3 results announcement
• Negative Sentiment: Revenue expectations were mixed across reports: some cited a beat, while another reported sales below consensus, despite revenue of $6.86 billion and strong year-over-year growth. That discrepancy may have tempered the reaction to the earnings beat. Report on Devon’s Q3 sales expectations

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DVN shares. Barclays boosted their target price on shares of Devon Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, October 9th. Susquehanna increased their target price on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. raised their price target on shares of Devon Energy from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, October 2nd. Weiss Ratings raised shares of Devon Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Raymond James Financial upped their price objective on shares of Devon Energy from $64.00 to $67.00 and gave the company a “strong-buy” rating in a report on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $60.72.

Insider Buying and Selling at Devon Energy

In related news, EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy stock in a transaction on Monday, September 14th. The shares were sold at an average price of $50.95, for a total value of $344,218.20. Following the completion of the sale, the executive vice president owned 72,720 shares of the company’s stock, valued at approximately $3,705,084. This trade represents a 8.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Clay Gaspar purchased 3,913 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were acquired at an average price of $51.08 per share, with a total value of $199,876.04. Following the purchase, the chief executive officer directly 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. Company insiders own 4.58% of the company’s stock.

Devon Energy Company Profile

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.