Allworth Financial LP Purchases New Position in Devon Energy Corporation $DVN

Allworth Financial LP purchased a new stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 29,662 shares of the energy company's stock, valued at approximately $1,226,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in 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 acquiring an additional 34,871,366 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Devon Energy by 2,108.0% during the 4th quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company's stock valued at $233,953,000 after purchasing an additional 6,097,658 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Devon Energy by 137.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,628,124 shares of the energy company's stock valued at $397,834,000 after purchasing an additional 5,573,172 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Devon Energy by 42,376.5% during the fourth quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company's stock valued at $132,206,000 after buying an additional 3,600,731 shares during the period. Finally, Kimmeridge Energy Management Company LLC raised its stake in Devon Energy by 56.5% in the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company's stock worth $324,204,000 after buying an additional 3,195,862 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Insider Activity at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the sale, the senior vice president owned 138,529 shares of the company's stock, valued at approximately $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 accessible through this link. Insiders own 4.58% of the company's stock.

Key Stories Impacting Devon Energy

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.

Wall Street Analyst Weigh In

DVN has been the subject of a number of research reports. Raymond James Financial decreased their price objective on Devon Energy from $66.00 to $64.00 and set a "strong-buy" rating for the company in a report on Thursday, July 16th. UBS Group decreased their price target on shares of Devon Energy from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Wednesday, July 15th. Zacks Research lowered shares of Devon Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Citigroup upped their price objective on shares of Devon Energy from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, May 20th. 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 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 data from MarketBeat, Devon Energy has an average rating of "Moderate Buy" and a consensus price target of $59.15.

Devon Energy Stock Performance

Shares of DVN stock opened at $49.19 on Friday. The company has a market capitalization of $54.11 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. Devon Energy Corporation has a one year low of $31.47 and a one year high of $52.71. The company's 50-day moving average is $43.73 and its 200 day moving average is $45.45.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business had revenue of $7.42 billion during the quarter, compared to analysts' expectations of $6.01 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The business's revenue for the quarter was up 73.1% compared to the same quarter last year. Sell-side analysts expect that Devon Energy Corporation will post 5.2 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 15th. Devon Energy's dividend payout ratio (DPR) is currently 30.40%.

About Devon Energy

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.

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