Kerusso Capital Management LLC Boosts Stake in Devon Energy Corporation $DVN

Key Points

• Kerusso Capital Management boosted its stake in Devon Energy by 169.4% in Q4 to 136,278 shares (about $4.99 million), making DVN its 9th-largest holding and representing 2.3% of the firm's portfolio.
• Devon is pursuing a major strategic move—a merger with Coterra to scale its Permian footprint, fund higher dividends and a multibillion buyback—and analysts are largely positive (MarketBeat average rating: Moderate Buy, average target $54.14) while institutional ownership sits near 69.7%.

Kerusso Capital Management LLC increased its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 169.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 136,278 shares of the energy company's stock after purchasing an additional 85,691 shares during the period. Devon Energy makes up 2.3% of Kerusso Capital Management LLC's holdings, making the stock its 9th biggest holding. Kerusso Capital Management LLC's holdings in Devon Energy were worth $4,992,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in DVN. waypoint wealth counsel increased its stake in shares of Devon Energy by 4.1% in the 4th quarter. waypoint wealth counsel now owns 12,201 shares of the energy company's stock valued at $447,000 after purchasing an additional 476 shares during the last quarter. West Michigan Advisors LLC increased its holdings in shares of Devon Energy by 3.0% during the fourth quarter. West Michigan Advisors LLC now owns 47,376 shares of the energy company's stock worth $1,735,000 after buying an additional 1,373 shares in the last quarter. M&T Bank Corp grew its position in Devon Energy by 1,243.2% during the 4th quarter. M&T Bank Corp now owns 245,868 shares of the energy company's stock worth $9,006,000 after acquiring an additional 227,563 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Devon Energy by 4.7% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 336,206 shares of the energy company's stock valued at $12,371,000 after purchasing an additional 14,966 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in Devon Energy by 182.6% in the 4th quarter. Salomon & Ludwin LLC now owns 910 shares of the energy company's stock valued at $33,000 after buying an additional 588 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on DVN. Weiss Ratings upgraded Devon Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, January 28th. UBS Group cut their target price on shares of Devon Energy from $61.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Argus boosted their price objective on Devon Energy from $41.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Mizuho upped their target price on shares of Devon Energy from $51.00 to $62.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $66.00 price target on shares of Devon Energy in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $54.14.

Devon Energy News Roundup

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 Stock Up 2.2%

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

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the business posted $1.10 EPS. The company's revenue for the quarter was down 6.4% on a year-over-year basis. Research analysts expect that Devon Energy Corporation will post 4.81 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

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

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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