Segall Bryant & Hamill LLC Takes Position in Devon Energy Corporation $DVN

Segall Bryant & Hamill LLC bought a new position in Devon Energy Corporation (NYSE:DVN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,139 shares of the energy company’s stock, valued at approximately $711,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DVN. LSV Asset Management increased its holdings in shares of Devon Energy by 79.6% during the 4th quarter. LSV Asset Management now owns 799,587 shares of the energy company’s stock worth $29,289,000 after buying an additional 354,500 shares during the last quarter. Morningstar Investment Management LLC purchased a new position in shares of Devon Energy in the 4th quarter worth about $2,089,000. Kimmeridge Energy Management Company LLC raised its holdings in shares of Devon Energy by 56.5% in the 4th quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock worth $324,204,000 after purchasing an additional 3,195,862 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of Devon Energy by 15.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock valued at $9,801,000 after purchasing an additional 26,209 shares in the last quarter. Finally, NewEdge Wealth LLC grew its holdings in shares of Devon Energy by 20.0% during the 1st quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock worth $24,138,000 after purchasing an additional 80,000 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Buying and Selling

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction dated 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 owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the transaction, the executive vice president owned 428,452 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 112,371 shares of company stock worth $5,258,059 over the last quarter. 4.58% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays raised their price target on shares of Devon Energy from $54.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. BMO Capital Markets restated an “outperform” rating on shares of Devon Energy in a report on Wednesday, June 10th. UBS Group cut their price objective on Devon Energy from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Wall Street Zen lowered Devon Energy from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Finally, Roth Capital reiterated a “buy” rating and set a $57.00 target price on shares of Devon Energy in a report on Tuesday, April 28th. Two investment 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.56.

Devon Energy Stock Performance

DVN stock opened at $42.09 on Thursday. The stock’s 50 day simple moving average is $43.52 and its 200 day simple moving average is $44.83. Devon Energy Corporation has a 12-month low of $31.47 and a 12-month high of $52.71. The firm has a market cap of $26.16 billion, a P/E ratio of 10.00 and a beta of 0.38. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. The firm 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 21.29%. The firm’s revenue was up 73.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 earnings per share. As a group, equities research analysts predict that Devon Energy Corporation will post 4.64 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio is currently 35.65%.

Devon Energy News Summary

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

• Positive Sentiment: Quarterly results significantly exceeded expectations. Devon reported adjusted earnings of $1.57 per share versus the $1.40 consensus estimate, while revenue reached $7.42 billion, well above the $6.01 billion expectation. Revenue increased 73.1% year over year, helped by the Coterra merger, stronger oil prices and higher production. Devon Q2 Earnings Surpass Estimates on Strong Oil Output and Pricing
• Positive Sentiment: Production and cash generation were strong. Oil output averaged 503,000 barrels per day, at the high end of guidance, while total production averaged 1.359 million barrels of oil equivalent per day. Operating cash flow was $3.7 billion and adjusted free cash flow was approximately $1.7 billion. Devon posts highest quarterly profit since 2022 on stronger oil prices, Coterra deal
• Positive Sentiment: Shareholder returns and the balance sheet remain priorities. Devon returned about $1.06 billion through dividends, repurchases and debt retirement, bought back 4.3 million shares for approximately $197 million, and raised its fixed quarterly dividend 33% to $0.32 per share, implying a yield of roughly 3%. Analysts have also highlighted the company’s buyback, debt-reduction plans and 2026 growth outlook. Devon Energy: Focusing On Long-Term Value Creation Via Buybacks And Debt Reduction
• Positive Sentiment: Management’s near-term outlook was constructive. Devon expects third-quarter production of 1.66 million to 1.69 million barrels of oil equivalent per day. Capital spending was also about 2% below the guidance midpoint in the second quarter. Devon Energy Reports Second-Quarter 2026 Results
• Neutral Sentiment: The Coterra Energy merger materially expanded Devon’s earnings, production and revenue base, but investors may continue evaluating integration execution and whether the enlarged company can sustain these results as commodity prices fluctuate. Devon also agreed to acquire 16,300 net Delaware Basin acres for $2.6 billion, adding future resource potential but increasing capital commitments.
• Negative Sentiment: The market’s weaker reaction despite the earnings beat indicates that expectations may already reflect the merger benefits and strong oil prices. Any subsequent decline in commodity prices, production growth or free cash flow could limit further upside.

Devon Energy Company 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.