Contravisory Investment Management Inc. Takes $9.86 Million Position in Devon Energy Corporation $DVN

Posted by James Quigley on Jun 26th, 2026

Contravisory Investment Management Inc. bought a new stake in Devon Energy Corporation (NYSE:DVN – Free Report) during the first quarter, Holdings Channel.com reports. The fund bought 196,012 shares of the energy company’s stock, valued at approximately $9,863,000. Devon Energy makes up about 2.0% of Contravisory Investment Management Inc.’s portfolio, making the stock its 11th largest position.

Other large investors also recently bought and sold shares of the company. Silver Oak Securities Incorporated grew its holdings in shares of Devon Energy by 10.5% during the first quarter. Silver Oak Securities Incorporated now owns 28,619 shares of the energy company’s stock worth $1,440,000 after purchasing an additional 2,712 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Devon Energy by 57.5% in the 1st quarter. Ritholtz Wealth Management now owns 105,230 shares of the energy company’s stock valued at $5,295,000 after purchasing an additional 38,408 shares during the last quarter. TrueMark Investments LLC acquired a new stake in shares of Devon Energy in the 1st quarter valued at about $5,534,000. Fifth Third Wealth Advisors LLC boosted its position in shares of Devon Energy by 15.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,762 shares of the energy company’s stock valued at $340,000 after purchasing an additional 895 shares during the period. Finally, Thoma Capital Management LLC grew its stake in Devon Energy by 4.4% during the 1st quarter. Thoma Capital Management LLC now owns 20,296 shares of the energy company’s stock worth $1,021,000 after buying an additional 861 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN stock opened at $42.54 on Friday. The stock’s 50-day moving average price is $46.05 and its 200 day moving average price is $43.50. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $26.43 billion, a PE ratio of 11.85 and a beta of 0.37. Devon Energy Corporation has a 52-week low of $31.45 and a 52-week high of $52.71.

Devon Energy (NYSE:DVN – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the business posted $0.82 earnings per share. The firm’s revenue was down 14.5% compared to the same quarter last year. As a group, equities research analysts forecast that Devon Energy Corporation will post 4.97 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.0%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, June 15th. Devon Energy’s dividend payout ratio (DPR) is currently 35.65%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DVN. UBS Group cut their price target on Devon Energy from $60.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, June 10th. Scotiabank increased their price objective on Devon Energy from $41.00 to $46.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. BMO Capital Markets restated an “outperform” rating on shares of Devon Energy in a research report on Wednesday, June 10th. The Goldman Sachs Group set a $54.00 target price on shares of Devon Energy in a report on Tuesday. Finally, Mizuho upped their price target on shares of Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.96.

Check Out Our Latest Stock Report on Devon Energy

Insider Buying and Selling

In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the completion of the transaction, the executive vice president owned 428,452 shares in the company, valued at approximately $19,991,570.32. This represents a 14.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the sale, the senior vice president owned 130,540 shares of the company’s stock, valued at $6,162,793.40. This trade represents a 15.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 112,371 shares of company stock valued at $5,258,059 over the last three months. 4.58% of the stock is currently owned by company insiders.

Devon Energy News Summary

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

Positive Sentiment: Devon completed its private exchange offers for outstanding Coterra-related notes, with strong participation across several maturities, including some series tendered at very high rates. The transaction simplifies Devon’s capital structure and should improve financial flexibility. Devon Energy Simplifies Capital Structure With Note Exchange
Positive Sentiment: Goldman Sachs upgraded Devon Energy to strong-buy, reinforcing the bullish analyst view that the stock may still have meaningful upside from current levels. Zacks.com article on Goldman Sachs upgrade
Positive Sentiment: Wall Street commentary highlighted Devon’s valuation appeal, with analysts and hedge-fund positioning pointing to substantial upside potential and broad institutional interest in the shares. What Does Wall Street Say About Devon Energy (DVN)?
Neutral Sentiment: Analyst and investor commentary continues to frame Devon as a financially stable, cash-generating energy producer, supported by a large institutional base and a disciplined capital-return model. What Does Wall Street Say About Devon Energy (DVN)?
Neutral Sentiment: Recent articles also note continued interest from hedge funds and other institutions, but the signal is mixed because some major holders have added while others have cut exposure. Devon Energy (DVN) Faces Fresh Activist Pressure As Toms Capital Takes Top Five Stake
Negative Sentiment: DVN has also faced renewed activist pressure after Toms Capital built a top-five stake, adding scrutiny to management’s post-merger plans and raising the possibility of asset sales or strategic changes. Devon Energy (DVN) Faces Fresh Activist Pressure As Toms Capital Takes Top Five Stake
Negative Sentiment: Broader energy-sector weakness tied to declining crude prices has been weighing on Devon Energy shares, as lower oil prices pressure producer earnings and investor sentiment. Devon Energy Stock (DVN) Opinions on Declining Oil Prices

About Devon Energy

(Free Report)

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.