Devon Energy Corporation $DVN Shares Bought by PensionDanmark Pensionsforsikringsaktieselskab

Key Points

• PensionDanmark increased its Devon Energy stake by 60.6% in the second quarter, acquiring 90,062 additional shares for a total holding of 238,694 shares valued at $9.86 million. Institutional investors collectively own 69.72% of the company.
• Devon Energy reported quarterly earnings of $1.57 per share on $7.42 billion in revenue, exceeding analyst estimates of $1.40 EPS and $6.01 billion in revenue. The company also declared a quarterly dividend of $0.32 per share, representing a 3.0% annualized yield.
• Analysts remain broadly optimistic, with a consensus rating of “Moderate Buy” and an average price target of $59.72 versus the stock’s reported $42.94 opening price. The outlook depends on integrating Coterra, realizing merger synergies and executing potential asset sales.

PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 60.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,694 shares of the energy company's stock after buying an additional 90,062 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Devon Energy were worth $9,863,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Devon Energy by 37.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 121,690 shares of the energy company's stock worth $5,028,000 after acquiring an additional 33,113 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in Devon Energy by 32.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 32,788 shares of the energy company's stock valued at $1,355,000 after purchasing an additional 8,088 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new stake in Devon Energy in the 2nd quarter valued at approximately $378,000. Dynamic Advisor Solutions LLC increased its holdings in Devon Energy by 616.4% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 56,471 shares of the energy company's stock valued at $2,333,000 after purchasing an additional 48,588 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Devon Energy by 78.7% in the second quarter. GAMMA Investing LLC now owns 59,105 shares of the energy company's stock valued at $2,442,000 after purchasing an additional 26,026 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on DVN. The Goldman Sachs Group lowered their price target on Devon Energy from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Barclays boosted their price objective on Devon Energy from $54.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Citigroup increased their target price on Devon Energy from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, May 20th. Argus raised their target price on Devon Energy from $51.00 to $53.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. Finally, Wells Fargo & Company lifted their target price on Devon Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $59.72.

Devon Energy Trading Down 0.4%

NYSE:DVN opened at $42.94 on Friday. Devon Energy Corporation has a 12-month low of $31.47 and a 12-month high of $52.71. The firm has a market cap of $26.68 billion, a PE ratio of 10.20 and a beta of 0.38. The company has a current ratio of 0.72, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $43.46 and a 200 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 for the quarter, topping 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%.Devon Energy's revenue was up 73.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 EPS. Sell-side analysts anticipate that Devon Energy Corporation will post 4.81 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. Devon Energy's payout ratio is currently 30.40%.

Devon Energy News Roundup

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 Buying and Selling

In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were 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 owned 428,452 shares in the company, valued at $19,991,570.32. The trade was a 14.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $841,320.00. Following the completion of the sale, the senior vice president directly owned 138,529 shares in the company, valued at approximately $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 112,371 shares of company stock worth $5,258,059 over the last 90 days. 4.58% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Corporation (NYSE:DVN - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source