Devon Energy Corporation $DVN Shares Sold by Palouse Capital Management Inc.

Key Points

• Palouse Capital Management cut its Devon Energy stake by 32% in the first quarter, selling 33,092 shares and leaving it with 70,235 shares worth about $3.53 million.
• Devon Energy has seen mixed analyst sentiment: several firms trimmed price targets or earnings estimates, but the stock still carries an average Moderate Buy rating with a consensus target of $58.81.
• The company recently raised its quarterly dividend to $0.32 per share, implying an annualized yield of about 3.2%, even as its latest earnings and revenue came in slightly below expectations.

Palouse Capital Management Inc. lessened its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 32.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,235 shares of the energy company's stock after selling 33,092 shares during the quarter. Devon Energy accounts for 2.3% of Palouse Capital Management Inc.'s investment portfolio, making the stock its 13th largest position. Palouse Capital Management Inc.'s holdings in Devon Energy were worth $3,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Devon Energy during the fourth quarter worth about $25,000. Ameriflex Group Inc. lifted its position in shares of Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company's stock valued at $28,000 after acquiring an additional 702 shares during the period. MV Capital Management Inc. acquired a new stake in shares of Devon Energy during the 4th quarter valued at approximately $29,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Devon Energy during the 4th quarter worth approximately $29,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Devon Energy during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: Several articles described Devon Energy as a potential value opportunity, with commentary calling DVN one of the most undervalued or best value stocks to buy right now.
• Positive Sentiment: Devon Energy is expected to report second-quarter 2026 earnings on August 4, which gives investors a clear near-term catalyst and may keep attention on the stock. Devon Energy Schedules Second-Quarter 2026 Earnings Release and Conference Call
• Neutral Sentiment: Zacks Research made a series of mixed earnings forecast changes, raising estimates for some quarters and full-year periods while cutting others, suggesting a less clear outlook rather than a strong fundamental shift.
• Neutral Sentiment: Devon completed private exchange offers tied to notes issued by its subsidiary, a financing move that appears more balance-sheet related than a direct operating catalyst.
• Negative Sentiment: Analysts at Zacks Research trimmed near-term Q2 2026 EPS estimates to $1.09 from $1.25, which can weigh on sentiment ahead of earnings. Devon Energy analyst estimate update
• Negative Sentiment: Goldman Sachs reduced its price target on Devon Energy to $53 from $54, and Morgan Stanley also lowered its target to $63 from $66, reflecting a slightly softer view on the stock’s near-term upside.
• Negative Sentiment: Recent reporting noted Devon Energy stock slipped while the broader market rose, reinforcing that investors are rotating away from the name for now.

Insiders Place Their Bets

In other news, SVP Andrea Alexander sold 18,000 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president directly owned 138,529 shares in the company, valued at $6,474,845.46. This represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the company's stock in a transaction on 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 in the company, valued at $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 112,371 shares of company stock valued at $5,258,059. Corporate insiders own 4.58% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DVN. Tudor Pickering raised Devon Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 20th. Mizuho boosted their target price on Devon Energy from $62.00 to $68.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Barclays boosted their target price on Devon Energy from $54.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Raymond James Financial lowered their target price on Devon Energy from $72.00 to $66.00 and set a "strong-buy" rating on the stock in a report on Monday, June 15th. Finally, Roth Mkm restated a "buy" rating and issued a $57.00 price target on shares of Devon Energy in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $58.81.

Devon Energy Stock Down 2.7%

DVN stock opened at $40.20 on Thursday. The company's 50 day simple moving average is $45.76 and its 200-day simple moving average is $43.61. The firm has a market capitalization of $24.98 billion, a PE ratio of 11.20 and a beta of 0.38. Devon Energy Corporation has a 12 month low of $31.45 and a 12 month high of $52.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The business had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same period last year, the business earned $0.82 earnings per share. The company's revenue for the quarter was down 14.5% on a year-over-year basis. Equities analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.32 per share. This is a boost from Devon Energy's previous quarterly dividend of $0.24. The ex-dividend date was Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a yield of 3.2%. Devon Energy's payout ratio is currently 35.65%.

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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