AXQ Capital LP Invests $1.05 Million in Devon Energy Corporation $DVN

Key Points

• AXQ Capital LP acquired 25,399 Devon Energy shares during the second quarter, worth approximately $1.05 million. Institutional investors collectively own 69.72% of the company.
• Devon reported strong quarterly results, with adjusted EPS of $1.57 beating the $1.40 consensus and revenue of $7.42 billion rising 73.1% year over year. Seaport Global upgraded the stock to Buy, while analysts maintain a consensus Moderate Buy rating and an average price target of $59.23.
• Devon shares recently traded at $48.08 and carry a valuation of about 11.4 times earnings. The company also declared a quarterly dividend of $0.32 per share, representing a 2.7% annualized yield.

AXQ Capital LP bought a new position in Devon Energy Corporation (NYSE:DVN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 25,399 shares of the energy company's stock, valued at approximately $1,049,000.

Other large investors have also added to or reduced their stakes in the company. Tobam lifted its holdings in shares of Devon Energy by 16.4% in the fourth quarter. Tobam now owns 1,633 shares of the energy company's stock valued at $60,000 after purchasing an additional 230 shares in the last quarter. Sigma Planning Corp grew its position in Devon Energy by 3.5% during the second quarter. Sigma Planning Corp now owns 6,902 shares of the energy company's stock valued at $285,000 after buying an additional 233 shares during the period. TD Private Client Wealth LLC increased its holdings in Devon Energy by 3.4% during the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company's stock worth $262,000 after buying an additional 236 shares during the last quarter. Retirement Planning Group LLC raised its position in Devon Energy by 4.5% in the second quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company's stock worth $233,000 after acquiring an additional 243 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in Devon Energy by 56.6% in the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company's stock valued at $28,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy News Roundup

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

• Positive Sentiment: Seaport Global upgraded Devon to Buy, citing the company’s strong second-quarter 2026 results and continued operating potential. The company reported adjusted EPS of $1.57, above the $1.40 consensus estimate, while revenue of $7.42 billion significantly exceeded expectations and rose 73.1% year over year. Devon Energy stock gains on Seaport Global buy rating and strong Q2 2026 earnings
• Positive Sentiment: Options activity signals increased bullish interest. Traders purchased 47,557 Devon call options, approximately 21% above typical call volume. While options activity is not a fundamental indicator, the elevated call buying may support near-term momentum and suggests some traders are positioning for further gains.
• Positive Sentiment: Goldman Sachs continues to view Devon as an attractive energy dividend opportunity. Goldman highlighted Devon alongside other energy dividend stocks that may still offer upside despite the sector’s strong rally. Brent crude above $95 per barrel and continued strength in the energy sector provide a supportive backdrop for Devon’s oil and gas earnings and shareholder returns. Goldman’s Energy Dividend Picks: Why Devon and HF Sinclair Still Offer Upside
• Neutral Sentiment: Post-earnings momentum remains a focus for investors. Devon is up 16.5% since its latest earnings release, prompting analysis of whether earnings estimates can support additional gains. Its relatively low valuation, including a price-to-earnings ratio near 11, supports the value case, but the stock’s proximity to its 12-month high may limit immediate upside. Devon Energy up 16.5% since last earnings report

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DVN shares. The Goldman Sachs Group cut their price target on Devon Energy from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Wells Fargo & Company lowered their price objective on Devon Energy from $68.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, August 13th. Wolfe Research set a $67.00 price objective on shares of Devon Energy and gave the company an "outperform" rating in a report on Monday, June 22nd. Morgan Stanley dropped their price objective on shares of Devon Energy from $66.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, June 26th. Finally, Truist Financial increased their target price on Devon Energy from $61.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $59.23.

Devon Energy Stock Performance

Shares of DVN opened at $48.08 on Friday. The stock has a 50-day moving average price of $44.79 and a 200-day moving average price of $45.78. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. The company has a market cap of $52.89 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.31 and a beta of 0.37. Devon Energy Corporation has a 12-month low of $31.47 and a 12-month high of $52.71.

Devon Energy (NYSE:DVN - Get Free Report) last announced 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. The company had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm's quarterly revenue was up 73.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. As a group, equities analysts forecast that Devon Energy Corporation will post 5.24 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy's payout ratio is 30.40%.

Insider Transactions at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the business'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 in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.58% of the stock is currently owned by company insiders.

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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