D.A. Davidson & CO. Has $3.38 Million Stock Position in Devon Energy Corporation $DVN

Key Points

• D.A. Davidson reduced its stake in Devon Energy by 38.1%, selling 56,702 shares and now holds 92,126 shares valued at about $3.38 million, while overall institutional ownership stands near 69.7%.
• Devon slightly beat quarterly estimates with $0.82 EPS (vs. $0.81) and $4.12 billion revenue, and pays a quarterly dividend of $0.24 (annualized $0.96, ~1.9% yield) with a 23% payout ratio.
• Analysts have been raising targets and ratings (consensus "Moderate Buy" and target ~$54.85; several firms lifted targets to $57–$66 and Morgan Stanley to $59), but the Coterra acquisition and related activist/governance debate create potential strategic and short‑term flow risks.

D.A. Davidson & CO. reduced its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 38.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 92,126 shares of the energy company's stock after selling 56,702 shares during the period. D.A. Davidson & CO.'s holdings in Devon Energy were worth $3,375,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Wedge Capital Management L L P NC bought a new position in shares of Devon Energy in the fourth quarter worth $9,931,000. Allianz Asset Management GmbH boosted its holdings in shares of Devon Energy by 4.3% in the third quarter. Allianz Asset Management GmbH now owns 833,155 shares of the energy company's stock worth $29,210,000 after acquiring an additional 33,974 shares during the period. Investors Research Corp boosted its holdings in shares of Devon Energy by 13,787.5% in the fourth quarter. Investors Research Corp now owns 27,775 shares of the energy company's stock worth $1,017,000 after acquiring an additional 27,575 shares during the period. Philip James Wealth Mangement LLC boosted its holdings in shares of Devon Energy by 43.8% in the fourth quarter. Philip James Wealth Mangement LLC now owns 161,368 shares of the energy company's stock worth $5,911,000 after acquiring an additional 49,115 shares during the period. Finally, Greatmark Investment Partners Inc. boosted its holdings in shares of Devon Energy by 5.6% in the third quarter. Greatmark Investment Partners Inc. now owns 571,925 shares of the energy company's stock worth $20,052,000 after acquiring an additional 30,435 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Price Performance

NYSE:DVN opened at $51.43 on Friday. The firm has a market capitalization of $31.94 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 0.83 and a beta of 0.47. Devon Energy Corporation has a 52-week low of $29.70 and a 52-week high of $52.71. The stock has a fifty day moving average of $47.09 and a 200 day moving average of $40.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98.

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

Devon Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Devon Energy from $44.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday, January 15th. Susquehanna lifted their price objective on Devon Energy from $52.00 to $57.00 and gave the company a "positive" rating in a research note on Tuesday, April 21st. Sanford C. Bernstein lifted their price objective on Devon Energy from $42.00 to $59.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. Wells Fargo & Company reissued an "overweight" rating and set a $66.00 price objective on shares of Devon Energy in a research note on Monday, April 20th. Finally, BMO Capital Markets lifted their price objective on Devon Energy from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Devon Energy has a consensus rating of "Moderate Buy" and a consensus target price of $54.85.

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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