Korea Investment CORP Acquires New Position in Devon Energy Corporation $DVN

Korea Investment CORP bought a new position in Devon Energy Corporation (NYSE:DVN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 882,836 shares of the energy company's stock, valued at approximately $36,479,000. Korea Investment CORP owned about 0.14% of Devon Energy 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. Tobam grew its holdings in shares of Devon Energy by 16.4% during the fourth quarter. Tobam now owns 1,633 shares of the energy company's stock valued at $60,000 after buying an additional 230 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Devon Energy by 3.4% in the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company's stock worth $262,000 after acquiring an additional 236 shares during the last quarter. Retirement Planning Group LLC lifted its position in Devon Energy by 4.5% in the 2nd quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company's stock valued at $233,000 after acquiring an additional 243 shares in the last quarter. JFS Wealth Advisors LLC lifted its position in Devon Energy by 56.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company's stock valued at $28,000 after acquiring an additional 245 shares in the last quarter. Finally, Catalyst Financial Partners LLC boosted its stake in Devon Energy by 3.9% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company's stock valued at $246,000 after purchasing an additional 254 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Down 0.2%

Devon Energy stock opened at $49.19 on Friday. The stock has a market cap of $54.11 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. Devon Energy Corporation has a one year low of $31.47 and a one year high of $52.71. The stock has a fifty 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 earnings results 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. The business had revenue of $7.42 billion for the quarter, compared to analysts' expectations of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The business's revenue for the quarter was up 73.1% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. As a group, sell-side analysts predict that Devon Energy Corporation will post 5.2 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, September 15th. Devon Energy's dividend payout ratio is 30.40%.

Insider Buying and Selling at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president owned 138,529 shares of the company's stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.58% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented 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. Wolfe Research set a $67.00 price target on Devon Energy and gave the company an "outperform" rating in a report on Monday, June 22nd. Argus reaffirmed a "buy" rating and set a $45.85 price objective on shares of Devon Energy in a research report on Monday, August 17th. Jefferies Financial Group lifted their price objective on Devon Energy from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Finally, Weiss Ratings raised Devon Energy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.

About Devon Energy

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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