Cibc World Market Inc. Purchases Shares of 838,862 Devon Energy Corporation $DVN

Cibc World Market Inc. acquired a new stake in Devon Energy Corporation (NYSE:DVN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 838,862 shares of the energy company's stock, valued at approximately $34,662,000. Cibc World Market Inc. owned approximately 0.13% of Devon Energy as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Tobam grew its holdings 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 buying an additional 230 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Devon Energy by 3.4% in the 4th 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% during the second quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company's stock valued at $233,000 after purchasing an additional 243 shares during the period. JFS Wealth Advisors LLC raised its holdings in Devon Energy by 56.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company's stock valued at $28,000 after buying an additional 245 shares during the period. Finally, Catalyst Financial Partners LLC raised its stake in shares of Devon Energy by 3.9% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company's stock valued at $246,000 after acquiring an additional 254 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Roth Capital reissued a "buy" rating and set a $57.00 price target on shares of Devon Energy in a research note on Tuesday, April 28th. Raymond James Financial dropped their price objective on shares of Devon Energy from $66.00 to $64.00 and set a "strong-buy" rating on the stock in a research note on Thursday, July 16th. Capital One Financial cut their target price on Devon Energy from $63.00 to $61.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 2nd. Truist Financial lifted their price target on shares of Devon Energy from $61.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company cut their price objective on shares of Devon Energy from $68.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Devon Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.15.

More 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.

Insider Buying and Selling at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of the company'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 transaction of $841,320.00. Following the completion of the transaction, the senior vice president directly owned 138,529 shares of the company's stock, valued at $6,474,845.46. This represents a 11.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 4.58% of the stock is currently owned by insiders.

Devon Energy Price Performance

Shares of DVN opened at $49.19 on Monday. The business's 50-day moving average is $43.73 and its two-hundred day moving average is $45.48. 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 company has a market capitalization of $54.11 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.35 and a beta of 0.38. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71.

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

Devon Energy Dividend Announcement

The firm also recently declared 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 of this dividend 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 presently 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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