746,360 Devon Energy Corporation $DVN Shares Bought by Artemis Investment Management LLP

Key Points

• Artemis Investment Management more than doubled its Devon Energy stake in the third quarter, acquiring 746,360 additional shares for a total holding of 1.47 million shares valued at approximately $67.5 million.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $60.11, compared with the stock’s reported trading price near $48.98.
• Devon recently agreed to sell its Eagle Ford assets to Crescent Energy for $4.2 billion in cash, a move intended to sharpen its portfolio focus and improve capital-allocation flexibility; the company also reported quarterly earnings and revenue above analyst expectations.

Artemis Investment Management LLP grew its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 103.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,465,225 shares of the energy company's stock after acquiring an additional 746,360 shares during the quarter. Artemis Investment Management LLP owned about 0.13% of Devon Energy worth $67,459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Devon Energy during the 4th quarter valued at $25,000. Premier Financial Group bought a new position in Devon Energy during the second quarter valued at $25,000. JFS Wealth Advisors LLC grew its position in Devon Energy by 56.6% in the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company's stock worth $28,000 after acquiring an additional 245 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in Devon Energy during the 2nd quarter valued at $28,000. Finally, MV Capital Management Inc. purchased a new position in shares of Devon Energy during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Seaport Research Partners started coverage on Devon Energy in a research note on Thursday, September 3rd. They issued a "buy" rating and a $65.00 target price on the stock. UBS Group lifted their target price on Devon Energy from $63.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday. Raymond James Financial upped their target price on Devon Energy from $64.00 to $67.00 and gave the company a "strong-buy" rating in a research report on Monday, September 14th. Barclays lowered their target price on shares of Devon Energy from $62.00 to $58.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. Finally, Wolfe Research set a $67.00 price target on shares of Devon Energy and gave the company an "outperform" rating in a research note on Monday, June 22nd. Two 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.11.

Insider Activity

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

Key Devon Energy News

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

• Positive Sentiment: Devon agreed to sell its Eagle Ford assets to Crescent Energy for $4.2 billion in cash, subject to customary closing adjustments. Management said the transaction follows a portfolio review, monetizes the assets at an attractive valuation and allows Devon to focus on higher-return, longer-duration operations. The deal is the primary catalyst behind the stock’s increase. Devon Energy Announces Agreement to Exit the Eagle Ford for $4.2 Billion
• Positive Sentiment: The asset sale should sharpen Devon’s strategic focus and provide additional balance-sheet and capital-allocation flexibility following its merger with Coterra Energy. Investors appear to view the transaction as evidence that Devon is actively optimizing its portfolio. Devon Energy Stock Rises After $4.2B Asset Sale to Boost Efficiency
• Neutral Sentiment: Devon plans to move its corporate headquarters from Oklahoma City to Houston after the Coterra merger, concentrating senior leadership in a major U.S. energy hub. The relocation may support integration and dealmaking, but its near-term effect on earnings is unclear. Devon Energy Picks Houston as Its New Corporate Home
• Neutral Sentiment: Devon will release third-quarter 2026 results after the market close on November 5 and hold its conference call on November 6. The announcement provides a date for the next major earnings catalyst but contains no new operating results. Devon Energy Schedules Third-Quarter 2026 Earnings Release and Conference Call
• Negative Sentiment: Truist lowered its price target for DVN from $65 to $61 while maintaining a Buy rating. Although the revised target still implies meaningful upside, the reduction signals somewhat less near-term valuation optimism. Truist Lowers Devon Energy Price Target

Devon Energy Stock Performance

NYSE DVN traded up $1.10 during trading hours on Thursday, reaching $48.98. The stock had a trading volume of 5,025,840 shares, compared to its average volume of 13,157,568. Devon Energy Corporation has a 52-week low of $31.47 and a 52-week high of $52.71. The stock has a fifty day moving average of $47.26 and a 200 day moving average of $46.33. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The stock has a market cap of $53.87 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to analysts' expectations of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business's quarterly revenue was up 73.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. Sell-side analysts predict that Devon Energy Corporation will post 5.33 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. Devon Energy's dividend payout ratio (DPR) is presently 30.40%.

About Devon Energy

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 operates in the United States and focuses on onshore properties with oil- and liquids-rich resources.

Devon's operations are concentrated in several major U.S. producing regions, including 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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