Callan Family Office LLC Takes $1.87 Million Position in Devon Energy Corporation $DVN

Key Points

• Callan Family Office acquired 45,243 Devon Energy shares worth approximately $1.87 million in the second quarter. Institutional investors collectively own 69.72% of DVN.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $59.15; Susquehanna recently raised its target to $63.
• Devon reported quarterly EPS of $1.57, exceeding expectations, while revenue rose 73.1% year over year to $7.42 billion. The company also declared a quarterly dividend of $0.32 per share, representing a 2.6% annualized yield.

Callan Family Office LLC purchased a new stake in Devon Energy Corporation (NYSE:DVN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 45,243 shares of the energy company's stock, valued at approximately $1,869,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DVN. BlackRock Inc. lifted 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 purchasing an additional 34,871,366 shares in the last quarter. State Street Corp boosted its position in shares of Devon Energy by 0.6% in the fourth quarter. State Street Corp now owns 35,542,293 shares of the energy company's stock worth $1,301,914,000 after buying an additional 212,074 shares during the period. Geode Capital Management LLC grew its holdings in shares of Devon Energy by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company's stock valued at $700,238,000 after buying an additional 186,743 shares in the last quarter. Victory Capital Management Inc. raised its position in Devon Energy by 17.5% during the fourth quarter. Victory Capital Management Inc. now owns 13,916,979 shares of the energy company's stock valued at $509,779,000 after buying an additional 2,071,021 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Devon Energy by 137.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,628,124 shares of the energy company's stock worth $397,834,000 after acquiring an additional 5,573,172 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 a number of research reports. Susquehanna upped their target price on Devon Energy from $57.00 to $63.00 and gave the company a "positive" rating in a report on Tuesday, July 21st. Zacks Research cut 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 research report on Saturday, August 15th. Argus reiterated a "buy" rating and issued a $45.85 price objective on shares of Devon Energy in a research note on Monday, August 17th. Finally, Roth Capital reiterated a "buy" rating and issued a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.15.

Key Devon Energy News

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.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $49.19 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. Devon Energy Corporation has a one year low of $31.47 and a one 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 $45.48. The company has a market capitalization of $54.11 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.17. The company had revenue of $7.42 billion during the quarter, compared to the consensus estimate 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 period last year, the business earned $0.84 EPS. Analysts anticipate that Devon Energy Corporation will post 5.2 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Andrea Alexander sold 18,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.58% of the company's stock.

Devon Energy Company 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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