Comerica Bank Boosts Stock Position in Devon Energy Corporation $DVN

Key Points

• Comerica Bank boosted its stake in Devon Energy by 14.3% in Q4 to 183,676 shares, valued at about $6.73 million.
• Analysts are broadly positive with a consensus rating of Moderate Buy and a $54.85 average price target, alongside recent upgrades including Wells Fargo ($66) and Truist ($63).
• Devon reported Q4 EPS of $0.82 (beat) and revenue of $4.12B (beat), pays a $0.24 quarterly dividend (1.9% yield), and trades at a P/E of 12.33 with a market cap near $31.9B.

Comerica Bank increased its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,676 shares of the energy company's stock after purchasing an additional 22,972 shares during the quarter. Comerica Bank's holdings in Devon Energy were worth $6,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Horizon Advisory Services Inc. boosted its stake in Devon Energy by 34.9% in the 4th quarter. Horizon Advisory Services Inc. now owns 10,663 shares of the energy company's stock worth $391,000 after buying an additional 2,756 shares during the last quarter. Argyle Capital Management LLC boosted its stake in Devon Energy by 22.0% in the 4th quarter. Argyle Capital Management LLC now owns 8,333 shares of the energy company's stock worth $305,000 after buying an additional 1,500 shares during the last quarter. Sava Infond d.o.o. boosted its stake in Devon Energy by 25.0% in the 4th quarter. Sava Infond d.o.o. now owns 4,000 shares of the energy company's stock worth $147,000 after buying an additional 800 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Devon Energy by 61.1% in the 4th quarter. Concurrent Investment Advisors LLC now owns 130,591 shares of the energy company's stock worth $4,784,000 after buying an additional 49,535 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Devon Energy in the 4th quarter worth about $95,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Susquehanna raised their price target on Devon Energy from $52.00 to $57.00 and gave the stock a "positive" rating in a research note on Tuesday, April 21st. Truist Financial assumed coverage on Devon Energy in a research note on Tuesday, March 24th. They issued a "buy" rating and a $63.00 price target on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $66.00 price target on shares of Devon Energy in a research note on Monday, April 20th. UBS Group decreased their price target on Devon Energy from $61.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Finally, Benchmark reissued a "buy" rating on shares of Devon Energy in a research note on Friday, January 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.85.

Devon Energy Stock Performance

NYSE DVN opened at $51.43 on Friday. The firm has a market capitalization of $31.94 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.83 and a beta of 0.47. Devon Energy Corporation has a 1-year low of $29.70 and a 1-year high of $52.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. The business's 50-day simple moving average is $47.09 and its 200-day simple moving average is $40.39.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The company's revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. Equities analysts predict that Devon Energy Corporation will post 5.31 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, March 13th. Devon Energy's payout ratio is currently 23.02%.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Morgan Stanley raised its price target to $59 and kept an "overweight" rating, giving investors a meaningful upside target versus current levels. Morgan Stanley raises target
• Positive Sentiment: Zacks upgraded DVN from "hold" to "strong-buy" and added the stock to multiple Zacks Rank #1 lists (momentum and value), which can attract buy-side flows and momentum traders. Zacks strong-buy additions
• Positive Sentiment: Analysts have been raising earnings estimates for Devon, and coverage pieces highlight improving consensus forecasts ahead of the Q1 report — a fundamentals-driven reason for the stock uptick. Earnings estimates rising
• Positive Sentiment: Unusually large options activity showed heavy call buying (roughly a 36% increase vs. average daily call volume), signaling speculative or hedged bullish positioning by traders. Options activity report
• Neutral Sentiment: Devon’s acquisition of Coterra is triggering index changes: Veeva will replace Coterra in the S&P 500 ahead of May 7 — a technical reshuffle related to Devon’s deal rather than a direct change to Devon’s S&P membership. Investors should note potential short-term flows around completion. Veeva joins S&P 500; Coterra removed
• Neutral Sentiment: Multiple previews and analyst notes ahead of Q1 (Wall Street metric deep-dives) are setting expectations — helpful for traders but outcome-dependent at the earnings release. Q1 preview and estimates
• Negative Sentiment: Activist and shareholder-focused debate (notably commentary tied to Kimmeridge) around the Coterra transaction and governance/capital allocation could create uncertainty about long-term strategy and payouts. That risk may temper some investor enthusiasm. Analyst upgrades and governance debate

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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