333,994 Shares of Devon Energy Corporation $DVN Purchased by ARGA Investment Management LP

ARGA Investment Management LP bought a new stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 333,994 shares of the energy company's stock, valued at approximately $15,377,000.

A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Devon Energy by 57.6% in the second quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company's stock valued at $3,941,054,000 after buying an additional 34,871,366 shares during the period. State Street Corp increased its position in shares of Devon Energy by 89.8% during the 2nd quarter. State Street Corp now owns 73,179,266 shares of the energy company's stock worth $3,023,767,000 after purchasing an additional 34,615,088 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Devon Energy by 418.3% in the 2nd quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company's stock valued at $2,128,905,000 after buying an additional 41,581,435 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Devon Energy by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,606,131 shares of the energy company's stock valued at $483,475,000 after acquiring an additional 235,561 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in Devon Energy in the 2nd quarter valued at about $421,226,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy News Summary

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

• Positive Sentiment: Pre-earnings coverage points to rising analyst estimates, production prospects and potential synergies from the Coterra merger—factors that could support results and the outlook. These are expectations, not reported Q3 results. Devon Energy to Report Q3 Earnings: Buy, Sell or Hold the Stock?
• Positive Sentiment: A Zacks article characterized DVN as a strong value stock, which may appeal to value-focused investors, though the supplied details do not give a specific valuation target. Here's Why Devon Energy (DVN) is a Strong Value Stock
• Neutral Sentiment: Analyst previews examine expected Q3 metrics for the quarter ended September 2026, but the articles provided do not include specific forecasts or actual results. Investors may look to the report for confirmation of estimates and production trends. What Analyst Projections for Key Metrics Reveal About Devon Energy (DVN) Q3 Earnings
• Neutral Sentiment: OPEC+ kept its December production plan unchanged. The article cited Brent spot crude at $123.10 per barrel; firm oil prices can support producers like Devon, while supply and commodity-price shifts remain key risks. Oil Enters November With OPEC+ Holding Steady and Five Producers Set to Report

Insider Activity at Devon Energy

In related news, CEO Clay M. Gaspar purchased 3,913 shares of the firm's stock in a transaction on Monday, September 14th. The stock was purchased at an average cost of $51.08 per share, with a total value of $199,876.04. Following the completion of the purchase, the chief executive officer owned 619,152 shares in the company, valued at approximately $31,626,284.16. This trade represents a 0.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $50.95, for a total transaction of $344,218.20. Following the transaction, the executive vice president owned 72,720 shares in the company, valued at $3,705,084. This represents a 8.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.58% of the company's stock.

Devon Energy Stock Down 2.2%

Shares of NYSE:DVN opened at $47.58 on Wednesday. The firm has a market cap of $52.34 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.27 and a beta of 0.43. Devon Energy Corporation has a 12-month low of $31.91 and a 12-month high of $52.71. The business has a fifty day simple moving average of $48.88 and a 200 day simple moving average of $45.94. 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 (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.17. The company had revenue of $7.42 billion during the quarter, compared to analysts' expectations of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The business's quarterly revenue was up 73.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Analysts predict that Devon Energy Corporation will post 5.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DVN. Truist Financial lowered their price target on shares of Devon Energy from $65.00 to $61.00 and set a "buy" rating on the stock in a report on Wednesday, October 7th. Wall Street Zen raised shares of Devon Energy from a "hold" rating to a "buy" rating in a research report on Saturday, October 3rd. Citigroup raised their target price on Devon Energy from $65.00 to $67.00 and gave the company a "buy" rating in a report on Monday, August 31st. Raymond James Financial lifted their price target 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. Finally, BMO Capital Markets restated an "outperform" rating and set a $67.00 price objective on shares of Devon Energy in a research report on Tuesday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and three 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 price target of $60.72.

Devon Energy 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.

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