Czech National Bank Has $13.56 Million Stake in Devon Energy Corporation $DVN

Key Points

• Czech National Bank nearly doubled its Devon Energy stake in the second quarter, adding 159,248 shares to own 328,174 shares valued at $13.56 million. Institutional investors and hedge funds collectively own 69.72% of the company.
• Devon reported strong quarterly results, with EPS of $1.57 versus the $1.40 consensus and revenue of $7.42 billion versus $6.01 billion expected. Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and a $59.72 target price.
• The stock opened at $42.94 and Devon declared a quarterly dividend of $0.32, implying a 3.0% annual yield. The bullish outlook depends on integrating Coterra, realizing merger synergies and completing asset sales, while insiders have sold more than $5.25 million of shares over the past three months.

Czech National Bank lifted its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 94.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 328,174 shares of the energy company's stock after buying an additional 159,248 shares during the quarter. Czech National Bank owned about 0.05% of Devon Energy worth $13,560,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Morningstar Investment Management LLC bought a new position in shares of Devon Energy during the 4th quarter valued at $2,089,000. LSV Asset Management boosted its holdings in Devon Energy by 79.6% in the fourth quarter. LSV Asset Management now owns 799,587 shares of the energy company's stock worth $29,289,000 after purchasing an additional 354,500 shares in the last quarter. Kimmeridge Energy Management Company LLC boosted its holdings in Devon Energy by 56.5% in the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company's stock worth $324,204,000 after purchasing an additional 3,195,862 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Devon Energy by 15.5% in the first quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company's stock worth $9,801,000 after purchasing an additional 26,209 shares in the last quarter. Finally, NewEdge Wealth LLC increased its position in Devon Energy by 20.0% during the first quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company's stock worth $24,138,000 after buying an additional 80,000 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays raised their target price on Devon Energy from $54.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Roth Capital reissued a "buy" rating and set a $57.00 price objective on shares of Devon Energy in a report on Tuesday, April 28th. Scotiabank increased their price objective on Devon Energy from $41.00 to $46.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Citigroup raised their price objective on Devon Energy from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Finally, Raymond James Financial reduced their target price on Devon Energy from $66.00 to $64.00 and set a "strong-buy" rating for the company in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $59.72.

Key Devon Energy News

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

• Positive Sentiment: Strong Q2 performance: Devon exceeded expectations for the quarter ended June 2026, reporting $1.57 in earnings per share versus the $1.40 consensus estimate and revenue of $7.42 billion versus $6.01 billion expected. Production and costs also outperformed guidance. Devon Energy Q2 2026 Earnings Call Highlights
• Positive Sentiment: Cash flow and synergies support shareholder returns: Analysts highlighted approximately $1.66 billion of adjusted free cash flow, progress toward more than $1 billion in merger synergies and a disciplined approach to capital allocation. The company is also reviewing assets that could potentially generate more than $12 billion for debt reduction, reinvestment or shareholder returns. DVN Q2 Earnings Call Takeaways
• Positive Sentiment: Analyst support strengthened: Truist raised its price target from $61 to $65 and maintained a Buy rating. Evercore ISI and Siebert Williams Shank also reaffirmed Buy ratings, signaling continued confidence in Devon’s post-merger outlook. Truist price target update
• Positive Sentiment: Commentary remains favorable on Devon’s expanded Permian acreage, potential asset-sale proceeds and the market’s possible underestimation of the combined company’s operating synergies. The Market Still Underestimates the New Devon
• Neutral Sentiment: Better-than-expected results from Occidental and Murphy Oil reinforce a supportive energy-sector backdrop, although their results do not directly change Devon’s fundamentals. Occidental Q2 Earnings
• Negative Sentiment: The bullish thesis depends on successfully integrating Coterra, capturing planned synergies and completing asset sales at attractive prices. Any delays, weaker oil and gas prices or disappointing proceeds could limit the expected upside and help explain why the stock has decreased despite favorable coverage.

Insider Transactions at Devon Energy

In other news, EVP Jeffrey L. Ritenour sold 70,029 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the completion of the transaction, the executive vice president directly owned 428,452 shares in the company, valued at $19,991,570.32. The trade was a 14.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 112,371 shares of company stock worth $5,258,059 over the last three months. 4.58% of the stock is currently owned by insiders.

Devon Energy Stock Down 0.4%

Devon Energy stock opened at $42.94 on Friday. The firm has a market cap of $26.68 billion, a price-to-earnings ratio of 10.20 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.94. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71. The firm has a fifty day moving average price of $43.46 and a two-hundred day moving average price of $44.87.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. The company had revenue of $7.42 billion for 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 firm's revenue was up 73.1% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. As a group, analysts forecast that Devon Energy Corporation will post 4.81 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. Shareholders of record on Tuesday, September 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy's payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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