Devon Energy Corporation $DVN Shares Purchased by Oak Grove Capital LLC

Key Points

• Oak Grove Capital increased its Devon Energy stake by 5.8% in the third quarter, purchasing 33,300 shares for a total holding of 605,990 shares valued at approximately $27.9 million. Institutional investors collectively own 69.72% of DVN.
• Devon reported quarterly EPS of $1.57 versus the $1.40 consensus estimate, while revenue rose 73.1% year over year to $7.42 billion. The company also maintains a quarterly dividend of $0.32 per share, or a 2.7% annualized yield.
• Devon agreed to sell its Eagle Ford assets to Crescent Energy for approximately $4.2 billion in cash, with proceeds expected to support debt reduction and share buybacks. Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $60.19 target price, despite some recent target cuts.

Oak Grove Capital LLC increased its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 5.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 605,990 shares of the energy company's stock after purchasing an additional 33,300 shares during the period. Devon Energy accounts for about 1.3% of Oak Grove Capital LLC's portfolio, making the stock its 15th largest position. Oak Grove Capital LLC owned about 0.06% of Devon Energy worth $27,900,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. GK Wealth Management LLC acquired a new stake in Devon Energy during the 3rd quarter worth about $57,000. Decker Wealth Management LLC acquired a new position in shares of Devon Energy in the third quarter valued at about $6,758,000. Riversedge Advisors LLC raised its stake in shares of Devon Energy by 5.5% in the third quarter. Riversedge Advisors LLC now owns 13,651 shares of the energy company's stock worth $628,000 after purchasing an additional 716 shares during the last quarter. Wedmont Private Capital raised its stake in shares of Devon Energy by 5.6% in the third quarter. Wedmont Private Capital now owns 22,809 shares of the energy company's stock worth $1,116,000 after purchasing an additional 1,210 shares during the last quarter. Finally, BOS Asset Management LLC lifted its holdings in shares of Devon Energy by 9.4% during the third quarter. BOS Asset Management LLC now owns 50,273 shares of the energy company's stock worth $2,315,000 after purchasing an additional 4,309 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Trading Down 1.4%

Shares of NYSE:DVN opened at $48.24 on Friday. Devon Energy Corporation has a 12-month low of $31.47 and a 12-month high of $52.71. The company has a market capitalization of $53.07 billion, a PE ratio of 11.46, a PEG ratio of 1.31 and a beta of 0.49. The business has a 50 day moving average of $47.42 and a two-hundred day moving average of $46.35. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.17. The business had revenue of $7.42 billion for the quarter, compared to analysts' expectations of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business's revenue was up 73.1% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. As a group, analysts forecast that Devon Energy Corporation will post 5.35 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, September 15th. Devon Energy's dividend payout ratio (DPR) is currently 30.40%.

Insiders Place Their Bets

In other Devon Energy news, EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy stock in a transaction on Monday, September 14th. The shares were sold at an average price of $50.95, for a total value of $344,218.20. Following the completion of the transaction, the executive vice president owned 72,720 shares of the company's stock, valued at approximately $3,705,084. The trade was a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Clay Gaspar acquired 3,913 shares of the firm's stock in a transaction on Monday, September 14th. The stock was purchased at an average price of $51.08 per share, with a total value of $199,876.04. Following the transaction, the chief executive officer owned 619,152 shares of the company's stock, valued at approximately $31,626,284.16. This trade represents a 0.64% increase in their position. The SEC filing for this purchase provides additional information. 4.58% of the stock is currently owned by insiders.

Key Headlines Impacting Devon Energy

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

• Positive Sentiment: Devon agreed to sell its Eagle Ford assets in South Texas to Crescent Energy for approximately $4.2 billion in cash. The sale covers about 90,000 net acres and production of roughly 68,000 barrels of oil equivalent per day. Management said the transaction sharpens Devon’s focus on higher-return, longer-duration assets and improves financial flexibility. Devon Energy Announces Agreement to Exit the Eagle Ford
• Positive Sentiment: Proceeds are expected to support shareholder buybacks and debt reduction, potentially strengthening Devon’s balance sheet and increasing per-share returns. The transaction is expected to close around year-end 2026. Devon Energy Eagle Ford Sale to Boost Buybacks and Reduce Debt
• Neutral Sentiment: Crescent said the acquisition would add about 68,000 boe/d and generate targeted annual synergies of $140 million, highlighting the strategic value of the assets but also underscoring that Devon is exiting a significant production base. Crescent Energy’s Devon Deal Strengthens Its Eagle Ford Dominance
• Negative Sentiment: Truist Financial reportedly cut its price target for DVN, although it maintained a Buy rating. A lower target may be limiting enthusiasm around the stock despite the favorable asset-sale narrative. Devon Energy Stock Price Target Cut by Truist Financial

Analyst Upgrades and Downgrades

DVN has been the topic of a number of recent research reports. Barclays upped their target price on Devon Energy from $58.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday. Seaport Research Partners initiated coverage on shares of Devon Energy in a research note on Thursday, September 3rd. They set a "buy" rating and a $65.00 price objective for the company. Morgan Stanley dropped their price objective on shares of Devon Energy from $66.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, June 26th. Truist Financial cut their price objective on shares of Devon Energy from $65.00 to $61.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Weiss Ratings raised shares of Devon Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.19.

Devon Energy Profile

Devon Energy Corporation NYSE: DVN is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates in the United States and focuses on onshore properties with oil- and liquids-rich resources.

Devon's operations are concentrated in several major U.S. producing regions, including the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.

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