Ieq Capital LLC Acquires New Shares in Devon Energy Corporation $DVN

Ieq Capital LLC acquired a new position in Devon Energy Corporation (NYSE:DVN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 397,235 shares of the energy company's stock, valued at approximately $16,414,000. Ieq Capital LLC owned approximately 0.06% of Devon Energy at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Devon Energy in the fourth quarter worth about $25,000. JFS Wealth Advisors LLC boosted its stake in shares of Devon Energy by 56.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company's stock worth $28,000 after acquiring an additional 245 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Devon Energy during the 2nd quarter valued at about $29,000. GoalVest Advisory LLC acquired a new position in shares of Devon Energy during the 2nd quarter valued at about $30,000. Finally, SouthState Bank Corp raised its stake in shares of Devon Energy by 173.6% in the 1st quarter. SouthState Bank Corp now owns 766 shares of the energy company's stock valued at $39,000 after acquiring an additional 486 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the transaction, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DVN shares. Morgan Stanley reduced their target price on Devon Energy from $66.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, June 26th. Zacks Research downgraded shares of Devon Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Wells Fargo & Company cut their target price on shares of Devon Energy from $68.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Wolfe Research set a $67.00 price target on shares of Devon Energy and gave the company an "outperform" rating in a report on Monday, June 22nd. Finally, Citigroup raised their price target on Devon Energy from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.15.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: Zacks Research raised its Q2 2027 EPS forecast to $1.05 from $1.03 and its FY2028 estimate to $4.76 from $4.73. These modest upgrades suggest some confidence in Devon Energy’s longer-term earnings potential. Zacks Research Raises Earnings Estimates for Devon Energy
• Neutral Sentiment: Devon Energy announced a major executive leadership reshuffle effective August 20. The change could improve execution or strategic focus, but the available report does not provide enough detail to determine its financial impact. Devon Energy Announces Major Executive Leadership Reshuffle
• Neutral Sentiment: Analysts published commentary covering Devon Energy and Plains All American, but the available headline does not disclose a specific rating change, target-price adjustment, or forecast that would clearly move DVN shares. Analysts Offer Insights on Energy Companies: Plains All American and Devon Energy
• Negative Sentiment: Zacks cut its Q3 2026 EPS forecast to $1.13 from $1.24, Q3 2027 to $0.89 from $1.19, Q4 2027 to $1.04 from $1.23, and FY2027 to $4.29 from $4.70. The reductions outweigh the small upward revisions and may pressure sentiment. Zacks maintains a “Hold” rating.

Devon Energy Stock Down 0.2%

DVN opened at $49.19 on Friday. Devon Energy Corporation has a 1-year low of $31.47 and a 1-year high of $52.71. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $54.11 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.35 and a beta of 0.38. The business has a 50 day moving average of $43.73 and a 200-day moving average of $45.45.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter last year, the company posted $0.84 earnings per share. Devon Energy's quarterly revenue was up 73.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Devon Energy Corporation will post 5.2 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 15th. Devon Energy's dividend payout ratio (DPR) is currently 30.40%.

Devon Energy Company 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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