Bank of New York Mellon Corp Has $397.83 Million Stock Holdings in Devon Energy Corporation $DVN

Bank of New York Mellon Corp increased its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 137.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,628,124 shares of the energy company's stock after acquiring an additional 5,573,172 shares during the quarter. Bank of New York Mellon Corp owned about 1.55% of Devon Energy worth $397,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Tobam raised its stake in Devon Energy by 16.4% during the 4th quarter. Tobam now owns 1,633 shares of the energy company's stock valued at $60,000 after purchasing an additional 230 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Devon Energy by 3.4% in the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company's stock valued at $262,000 after purchasing an additional 236 shares in the last quarter. Retirement Planning Group LLC lifted 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 purchasing an additional 243 shares during the period. JFS Wealth Advisors LLC lifted 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 purchasing an additional 245 shares during the period. Finally, Catalyst Financial Partners LLC boosted its stake in Devon Energy by 3.9% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company's stock worth $246,000 after buying an additional 254 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Analyst Upgrades and Downgrades

DVN has been the topic of several analyst reports. Zacks Research lowered shares of Devon Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Wall Street Zen raised shares of Devon Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. JPMorgan Chase & Co. decreased their target price on shares of Devon Energy from $62.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 8th. Capital One Financial lowered their target price on shares of Devon Energy from $63.00 to $61.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 2nd. Finally, Wolfe Research set a $67.00 price target on shares of Devon Energy and gave the stock an "outperform" rating in a research report 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.15.

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.

Insider Buying and Selling at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 138,529 shares in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.58% of the stock is owned by company insiders.

Devon Energy Trading Down 0.2%

NYSE:DVN opened at $49.19 on Friday. Devon Energy Corporation has a 1-year low of $31.47 and a 1-year high of $52.71. The business's 50-day moving average price is $43.73 and its two-hundred day moving average price is $45.45. 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 firm has a market capitalization of $54.11 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.35 and a beta of 0.38.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share 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 company had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. During the same period last year, the business posted $0.84 earnings per share. The business's revenue for the quarter was up 73.1% compared to the same quarter last year. On average, equities analysts expect that Devon Energy Corporation will post 5.2 earnings per share for the current year.

Devon Energy Dividend Announcement

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

Devon Energy 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.

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