Johnson Financial Group Inc. Invests $1.73 Million in Devon Energy Corporation $DVN

Key Points

• Johnson Financial Group acquired 41,840 Devon Energy shares worth approximately $1.73 million during the second quarter. Institutional investors and hedge funds collectively own 69.72% of DVN.
• Analyst sentiment remains favorable, with 25 analysts rating the stock Strong Buy or Buy and a consensus price target of $59.15, although some firms recently lowered their targets.
• Devon reported quarterly EPS of $1.57, beating estimates of $1.40, while revenue rose 73.1% year over year to $7.42 billion. The company also declared a quarterly dividend of $0.32 per share, representing a 2.7% yield.

Johnson Financial Group Inc. acquired a new stake in Devon Energy Corporation (NYSE:DVN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 41,840 shares of the energy company's stock, valued at approximately $1,729,000.

Several other hedge funds have also recently bought and sold shares of DVN. Woodline Partners LP boosted its position in Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company's stock valued at $4,330,000 after buying an additional 57,555 shares during the period. Sivia Capital Partners LLC purchased a new stake in Devon Energy during the 2nd quarter worth about $403,000. Jump Financial LLC raised its position in Devon Energy by 58.8% in the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company's stock valued at $899,000 after purchasing an additional 10,464 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Devon Energy by 17.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company's stock valued at $4,736,000 after purchasing an additional 22,482 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Devon Energy by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company's stock valued at $4,586,000 after buying an additional 8,127 shares during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

Analyst Upgrades and Downgrades

DVN has been the subject of several analyst reports. Wolfe Research set a $67.00 price target on shares of Devon Energy and gave the stock an "outperform" rating in a report on Monday, June 22nd. Jefferies Financial Group lifted their price objective on shares of Devon Energy from $62.00 to $63.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Mizuho boosted their target price on shares of Devon Energy from $62.00 to $68.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. cut their price target on Devon Energy from $62.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company decreased their price target on Devon Energy from $68.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.15.

Insider Activity at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of the company's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the sale, the senior vice president owned 138,529 shares in the company, valued at $6,474,845.46. This represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.58% of the stock is owned by insiders.

Key Devon Energy News

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

• Positive Sentiment: Devon’s post-merger output reportedly exceeded guidance, suggesting the combined operations may be delivering stronger-than-expected production and improving confidence in near-term results. Devon Energy stock in focus as output tops guidance post-merger
• Positive Sentiment: Zacks Research raised its FY2026 EPS forecast to $4.96 from $4.53 and increased estimates for Q4 2026 to $1.22 from $1.16 and Q1 2027 to $1.31 from $1.26. The upgrades indicate improved expectations for Devon’s earnings trajectory. Devon Energy analyst estimates
• Positive Sentiment: Argus initiated or reaffirmed a “Buy” rating on Devon Energy, adding a favorable Wall Street view as the company benefits from its multi-basin portfolio, low-cost operations and relatively modest leverage. Devon Energy earns Buy rating from Argus
• Neutral Sentiment: Devon’s shares have outperformed the industry over the past month. The company’s diversified production base and cost structure offer support, but earnings remain exposed to oil and natural-gas price swings. DVN stock outperforms industry in a month
• Neutral Sentiment: Despite the higher earnings forecasts, Zacks Research maintains a “Hold” rating, suggesting analysts see balanced upside and risk at current valuation levels.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $48.16 on Thursday. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71. The firm has a market capitalization of $52.98 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.36 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. The company's fifty day moving average price is $43.56 and its 200 day moving average price is $45.36.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. The company had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. Devon Energy's revenue for the quarter was up 73.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. As a group, sell-side analysts predict that Devon Energy Corporation will post 5.04 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.7%. Devon Energy's dividend payout ratio (DPR) is 30.40%.

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.

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.

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