Varma Mutual Pension Insurance Co Buys Shares of 309,803 Devon Energy Corporation $DVN

Varma Mutual Pension Insurance Co purchased a new stake in shares of Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 309,803 shares of the energy company’s stock, valued at approximately $12,801,000.

Several other institutional investors have also modified their holdings of the company. LSV Asset Management increased its position in Devon Energy by 79.6% in the 4th quarter. LSV Asset Management now owns 799,587 shares of the energy company’s stock valued at $29,289,000 after acquiring an additional 354,500 shares during the period. Kimmeridge Energy Management Company LLC increased its stake in Devon Energy by 56.5% during the 4th quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after buying an additional 3,195,862 shares during the period. Morningstar Investment Management LLC bought a new stake in shares of Devon Energy during the 4th quarter worth about $2,089,000. Illinois Municipal Retirement Fund raised 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 in the last quarter. Finally, NewEdge Wealth LLC lifted 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 worth $24,138,000 after acquiring an additional 80,000 shares during the period. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DVN shares. Morgan Stanley lowered their price objective on shares of Devon Energy from $66.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Zacks Research cut Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group lowered their target price on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Raymond James Financial dropped their price target on shares of Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 16th. 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 report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.15.

More Devon Energy News

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

• Positive Sentiment: Zacks Research raised its Q2 2027 EPS forecast to $1.05 from $1.03 and its FY2028 estimate to $4.76 from $4.73. These modest upgrades suggest some confidence in Devon Energy’s longer-term earnings potential. Zacks Research Raises Earnings Estimates for Devon Energy
• Neutral Sentiment: Devon Energy announced a major executive leadership reshuffle effective August 20. The change could improve execution or strategic focus, but the available report does not provide enough detail to determine its financial impact. Devon Energy Announces Major Executive Leadership Reshuffle
• Neutral Sentiment: Analysts published commentary covering Devon Energy and Plains All American, but the available headline does not disclose a specific rating change, target-price adjustment, or forecast that would clearly move DVN shares. Analysts Offer Insights on Energy Companies: Plains All American and Devon Energy
• Negative Sentiment: Zacks cut its Q3 2026 EPS forecast to $1.13 from $1.24, Q3 2027 to $0.89 from $1.19, Q4 2027 to $1.04 from $1.23, and FY2027 to $4.29 from $4.70. The reductions outweigh the small upward revisions and may pressure sentiment. Zacks maintains a “Hold” rating.

Devon Energy Price Performance

DVN opened at $49.19 on Monday. The stock has a fifty day moving average of $43.73 and a 200-day moving average of $45.48. The firm has a market capitalization of $54.11 billion, a P/E ratio of 11.68, a PEG ratio of 1.35 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 12-month low of $31.47 and a 12-month high of $52.71.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter last year, the business posted $0.84 EPS. The company’s revenue for the quarter was up 73.1% on a year-over-year basis. Equities analysts forecast that Devon Energy Corporation will post 5.2 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio is presently 30.40%.

Insiders Place Their Bets

In other news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the sale, the senior vice president directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.58% of the stock is currently owned by insiders.

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.