Devon Energy Corporation $DVN Shares Sold by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas cut its stake in Devon Energy by 17.8% in Q4, selling 146,067 shares and leaving it with 672,646 shares (about 0.11% of the company, worth ~$24.64M).
• Devon struck a material merger with Coterra to form a larger Permian-focused producer targeting cost synergies, higher dividends and a multibillion-dollar buyback program, prompting analyst upgrades and bullish coverage.
• In the latest quarter Devon reported EPS of $0.82 (beating by $0.01) and revenue of $4.12B (above estimates but down 6.4% YoY), pays a $0.24 quarterly dividend (a 2.0% yield), and carries a consensus rating of "Moderate Buy" with an average price target of $54.14.

Teacher Retirement System of Texas reduced its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 17.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 672,646 shares of the energy company's stock after selling 146,067 shares during the quarter. Teacher Retirement System of Texas owned about 0.11% of Devon Energy worth $24,639,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DVN. Woodline Partners LP lifted its holdings in shares of Devon Energy by 98.8% during the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company's stock worth $4,330,000 after purchasing an additional 57,555 shares during the period. Sivia Capital Partners LLC purchased a new position in Devon Energy in the second quarter worth $403,000. Jump Financial LLC raised its position in Devon Energy by 58.8% in the second quarter. Jump Financial LLC now owns 28,251 shares of the energy company's stock worth $899,000 after acquiring an additional 10,464 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Devon Energy by 17.8% in the second quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company's stock worth $4,736,000 after acquiring an additional 22,482 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Devon Energy by 6.0% in the second quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company's stock worth $4,586,000 after acquiring an additional 8,127 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Performance

NYSE DVN opened at $48.18 on Friday. The firm has a market capitalization of $29.92 billion, a P/E ratio of 11.55, a P/E/G ratio of 0.87 and a beta of 0.47. Devon Energy Corporation has a 1-year low of $29.70 and a 1-year high of $52.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. The business's 50-day simple moving average is $46.57 and its 200-day simple moving average is $39.86.

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, topping 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 for the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the business earned $1.10 EPS. Devon Energy's revenue for the quarter was down 6.4% compared to the same quarter last year. Equities analysts predict that Devon Energy Corporation will post 4.81 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, March 13th. Devon Energy's payout ratio is 23.02%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DVN shares. Wolfe Research increased their price objective on Devon Energy from $64.00 to $65.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Capital One Financial cut their price objective on Devon Energy from $64.00 to $63.00 and set an "overweight" rating for the company in a research report on Tuesday, April 14th. Royal Bank Of Canada increased their price objective on Devon Energy from $46.00 to $59.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 8th. Benchmark reiterated a "buy" rating on shares of Devon Energy in a research report on Friday, January 16th. Finally, Siebert Williams Shank raised their price target on Devon Energy from $46.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.14.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: Devon agreed to a material merger with Coterra Energy to form a larger Permian-focused producer — the deal targets cost synergies, higher dividends and a multibillion-dollar buyback program, which should materially boost scale and shareholder returns if executed. Devon And Coterra Merger Puts Permian Scale And Cash Returns In Focus
• Positive Sentiment: Tudor Pickering upgraded Devon, signaling improved analyst conviction around the company’s outlook and the merger-related thesis. Analyst upgrades tend to support short-term buying interest. Devon Energy NYSE: DVN Upgraded at Tudor Pickering
• Positive Sentiment: Susquehanna raised its price target to $57, implying additional upside versus prior targets and giving investors another bullish data point on fair value. Susquehanna Raises Devon Energy NYSE: DVN Price Target to $57.00
• Neutral Sentiment: Coverage notes a recent momentum cooldown after a strong multi-month run — Devon has meaningful 3–12 month gains but a short-term pullback; this raises risk of short-term consolidation even as the longer-term case (scale + returns) remains intact. Assessing Devon Energy (DVN) Valuation After Recent Momentum Cooldown
• Neutral Sentiment: Multiple industry write-ups compare Devon to peers like EOG and provide valuation/operational context — useful for relative-value assessment but not single-handedly catalytic. Devon Energy vs. EOG: Which Shale Stock Offers More Upside in 2026?
• Neutral Sentiment: Several retail and research pieces (Zacks, Kalkine, 247WallSt) are highlighting Devon as a trending energy name — increased attention can raise liquidity and volatility but is ambiguous for direction. Do Devon Energy Shares Rise as NYSE Composite Energy Gains?
• Neutral Sentiment: Broader review pieces that include Devon alongside other energy names (and even non-core coverage, e.g., Venture Global) provide background but are unlikely to move the stock materially on their own. Reviewing Venture Global NYSE: VG & Devon Energy NYSE: DVN
• Negative Sentiment: Scotiabank raised its price target to $46 but kept a "sector perform" rating; that PT is below recent levels, suggesting another analyst sees limited near-term upside — this creates some conflicting signals amid bullish deal headlines. Devon Energy Price Target Note (Benzinga)

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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