Convergence Investment Partners LLC Purchases New Position in Devon Energy Corporation $DVN

Key Points

• Convergence Investment Partners LLC opened a new position in Devon Energy during the fourth quarter, buying 23,867 shares valued at about $874,000.
• Devon Energy recently reported mixed quarterly results, missing both EPS and revenue estimates, while analysts still expect about $5.25 EPS for the full year.
• The company raised its quarterly dividend to $0.32 per share, and Wall Street sentiment remains moderately positive with a consensus rating of “Moderate Buy” and a price target around $56.41.

Convergence Investment Partners LLC purchased a new stake in Devon Energy Corporation (NYSE:DVN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,867 shares of the energy company's stock, valued at approximately $874,000.

Other institutional investors have also bought and sold shares of the company. First Horizon Corp acquired a new stake in Devon Energy in the 3rd quarter valued at $26,000. Accredited Wealth Management LLC boosted its stake in Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company's stock valued at $28,000 after buying an additional 308 shares in the last quarter. Ameriflex Group Inc. boosted its stake in Devon Energy by 702.0% in the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company's stock valued at $28,000 after buying an additional 702 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Devon Energy in the 3rd quarter valued at $31,000. Finally, Olistico Wealth LLC acquired a new stake in Devon Energy in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy News Summary

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

• Positive Sentiment: Rising oil prices are helping Devon Energy, and one recent bull case says the company still looks cheap with commodity tailwinds expected into the second half of 2026. Article: Devon Energy: Still Cheap With FQ2'26 & H2'26 Commodity Tailwinds - Reiterate Buy
• Positive Sentiment: Recent coverage highlights Devon as a strong way to benefit from oil-market strength, with investors also focusing on the company’s post-merger scale and higher dividend outlook after the Coterra combination. Article: Devon Energy jumps as oil prices rise and investors digest post-merger capital return outlook
• Positive Sentiment: Devon’s higher quarterly dividend and ongoing analyst price targets in the mid-to-high $50s to $60s continue to support the stock’s income and valuation appeal.
• Neutral Sentiment: Evercore initiated coverage with an “in-line” rating and a $54 price target, suggesting fair value rather than a strong catalyst for a sharp re-rating.
• Neutral Sentiment: Articles comparing Devon Energy with Chevron frame DVN as the more oil-sensitive pick, which can help when crude is strong but leaves it more exposed if prices weaken. Article: Devon Energy vs. Chevron: Here's the Better Oil Stock to Own Right Now
• Negative Sentiment: Scotiabank sharply reduced FY2026 and FY2027 earnings estimates, pointing to weaker profitability expectations ahead and weighing on investor sentiment. Article: Why Devon Energy's NYSE: DVN Soft Earnings Are Just The Beginning Of Its Problems
• Negative Sentiment: Insider selling by SVP Adam Vela, along with the weak recent earnings report that missed revenue estimates, may be adding pressure by reinforcing concerns about near-term fundamentals. Article: Devon Energy NYSE: DVN SVP Adam Vela Sells 24,342 Shares

Wall Street Analyst Weigh In

Several brokerages recently commented on DVN. Royal Bank Of Canada boosted their price target on Devon Energy from $46.00 to $59.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 8th. Wall Street Zen lowered Devon Energy from a "buy" rating to a "hold" rating in a research note on Sunday. Tudor Pickering raised Devon Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 20th. Sanford C. Bernstein increased their target price on Devon Energy from $42.00 to $59.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. Finally, Weiss Ratings upgraded Devon Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, January 28th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $56.41.

Devon Energy Trading Up 4.9%

Shares of DVN opened at $49.55 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 12-month low of $30.24 and a 12-month high of $52.71. The firm has a market capitalization of $30.79 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.79 and a beta of 0.43. The stock's fifty day simple moving average is $47.75 and its 200-day simple moving average is $41.38.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same period last year, the company earned $0.82 EPS. The company's revenue was down 14.5% compared to the same quarter last year. As a group, research analysts predict that Devon Energy Corporation will post 5.25 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. This is a boost from Devon Energy's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, June 15th. Devon Energy's payout ratio is currently 26.74%.

Insider Transactions at Devon Energy

In related news, EVP Jeffrey L. Ritenour sold 70,029 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the sale, the executive vice president owned 428,452 shares in the company, valued at approximately $19,991,570.32. This represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Adam M. Vela sold 24,342 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the sale, the senior vice president owned 130,540 shares of the company's stock, valued at $6,162,793.40. This represents a 15.72% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.71% of the company's stock.

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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