Kwmg LLC Purchases 165,201 Shares of Devon Energy Corporation $DVN

Key Points

• Kwmg LLC nearly doubled its Devon Energy position in the second quarter, adding 165,201 shares to own 336,207 shares valued at approximately $13.9 million. Institutional investors collectively hold 69.72% of DVN.
• Devon Energy reported strong quarterly results, with earnings of $1.57 per share and revenue of $7.42 billion, exceeding analyst expectations. The company also declared a quarterly dividend of $0.32 per share, representing a 3.0% yield.
• Analysts maintain a generally favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $59.72 versus the stock’s $42.94 opening price. However, the outlook depends on successful Coterra integration, synergy realization and asset sales, while recent insider share sales remain a concern.

Kwmg LLC lifted its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 96.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 336,207 shares of the energy company's stock after buying an additional 165,201 shares during the period. Kwmg LLC owned about 0.05% of Devon Energy worth $13,892,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Czech National Bank grew its position in Devon Energy by 94.3% during the second quarter. Czech National Bank now owns 328,174 shares of the energy company's stock valued at $13,560,000 after acquiring an additional 159,248 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab raised its stake in shares of Devon Energy by 60.6% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 238,694 shares of the energy company's stock worth $9,863,000 after acquiring an additional 90,062 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Devon Energy by 37.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 121,690 shares of the energy company's stock worth $5,028,000 after acquiring an additional 33,113 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Devon Energy by 32.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 32,788 shares of the energy company's stock worth $1,355,000 after acquiring an additional 8,088 shares during the last quarter. Finally, M.E. Allison & CO. Inc. purchased a new stake in shares of Devon Energy in the 2nd quarter valued at $378,000. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Down 0.4%

Shares of NYSE DVN opened at $42.94 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a 52 week low of $31.47 and a 52 week high of $52.71. The firm's fifty day moving average is $43.46 and its 200 day moving average is $44.87. The company has a market cap of $26.68 billion, a price-to-earnings ratio of 10.20 and a beta of 0.38.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to analysts' expectations of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm's revenue for the quarter was up 73.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 EPS. On average, equities research analysts expect that Devon Energy Corporation will post 4.72 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 15th. Devon Energy's dividend payout ratio is currently 30.40%.

Analyst Ratings Changes

DVN has been the topic of several recent research reports. Scotiabank increased their target price on shares of Devon Energy from $41.00 to $46.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Jefferies Financial Group boosted their price target on shares of Devon Energy from $62.00 to $63.00 and gave the stock a "buy" rating in a research note on Monday, May 18th. Wells Fargo & Company upped their price target on shares of Devon Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Roth Capital reaffirmed a "buy" rating and set a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, April 28th. Finally, Tudor Pickering upgraded Devon Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.72.

More Devon Energy News

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

• Positive Sentiment: Strong Q2 performance: Devon exceeded expectations for the quarter ended June 2026, reporting $1.57 in earnings per share versus the $1.40 consensus estimate and revenue of $7.42 billion versus $6.01 billion expected. Production and costs also outperformed guidance. Devon Energy Q2 2026 Earnings Call Highlights
• Positive Sentiment: Cash flow and synergies support shareholder returns: Analysts highlighted approximately $1.66 billion of adjusted free cash flow, progress toward more than $1 billion in merger synergies and a disciplined approach to capital allocation. The company is also reviewing assets that could potentially generate more than $12 billion for debt reduction, reinvestment or shareholder returns. DVN Q2 Earnings Call Takeaways
• Positive Sentiment: Analyst support strengthened: Truist raised its price target from $61 to $65 and maintained a Buy rating. Evercore ISI and Siebert Williams Shank also reaffirmed Buy ratings, signaling continued confidence in Devon’s post-merger outlook. Truist price target update
• Positive Sentiment: Commentary remains favorable on Devon’s expanded Permian acreage, potential asset-sale proceeds and the market’s possible underestimation of the combined company’s operating synergies. The Market Still Underestimates the New Devon
• Neutral Sentiment: Better-than-expected results from Occidental and Murphy Oil reinforce a supportive energy-sector backdrop, although their results do not directly change Devon’s fundamentals. Occidental Q2 Earnings
• Negative Sentiment: The bullish thesis depends on successfully integrating Coterra, capturing planned synergies and completing asset sales at attractive prices. Any delays, weaker oil and gas prices or disappointing proceeds could limit the expected upside and help explain why the stock has decreased despite favorable coverage.

Insider Transactions at Devon Energy

In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the completion of the transaction, the executive vice president owned 428,452 shares of the company's stock, valued at $19,991,570.32. This represents a 14.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total value of $1,149,185.82. Following the transaction, the senior vice president directly owned 130,540 shares of the company's stock, valued at $6,162,793.40. The trade was a 15.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 112,371 shares of company stock worth $5,258,059. Company insiders own 4.58% of the company's stock.

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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