NEOS Investment Management LLC Grows Stock Holdings in Devon Energy Corporation $DVN

Key Points

• NEOS Investment Management increased its Devon Energy holdings by 78.8% in the second quarter, while several other major institutions also expanded or initiated positions. Institutional investors now own 69.72% of DVN shares.
• Devon Energy reported strong quarterly results, with EPS of $1.57 versus the $1.40 consensus and revenue of $7.42 billion, up 73.1% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $59.23.
• Devon declared a quarterly dividend of $0.32 per share, equivalent to $1.28 annually and a 2.7% yield. The stock recently traded at $48.08, near its 12-month high of $52.71, while an insider separately sold 18,000 shares.

NEOS Investment Management LLC raised its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 78.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 191,578 shares of the energy company's stock after acquiring an additional 84,416 shares during the quarter. NEOS Investment Management LLC's holdings in Devon Energy were worth $7,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in DVN. Wellington Management Group LLP raised its stake in shares of Devon Energy by 418.3% during the 2nd quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company's stock valued at $2,128,905,000 after purchasing an additional 41,581,435 shares during the period. BlackRock Inc. boosted its stake in Devon Energy by 57.6% in the 2nd quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company's stock worth $3,941,054,000 after purchasing an additional 34,871,366 shares during the period. Bank of America Corp DE bought a new position in Devon Energy in the 2nd quarter worth about $421,226,000. GQG Partners LLC purchased a new position in Devon Energy during the 2nd quarter valued at about $402,558,000. Finally, Pacer Advisors Inc. grew its holdings in Devon Energy by 2,108.0% during the 4th quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company's stock valued at $233,953,000 after buying an additional 6,097,658 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. 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. Raymond James Financial lowered their target price on shares of Devon Energy from $66.00 to $64.00 and set a "strong-buy" rating on the stock in a research note on Thursday, July 16th. Wells Fargo & Company reduced their price target 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. Mizuho upped their price target on shares of Devon Energy from $62.00 to $68.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Devon Energy in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.23.

Key Devon Energy News

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

• Positive Sentiment: Seaport Global upgraded Devon to Buy, citing the company’s strong second-quarter 2026 results and continued operating potential. The company reported adjusted EPS of $1.57, above the $1.40 consensus estimate, while revenue of $7.42 billion significantly exceeded expectations and rose 73.1% year over year. Devon Energy stock gains on Seaport Global buy rating and strong Q2 2026 earnings
• Positive Sentiment: Options activity signals increased bullish interest. Traders purchased 47,557 Devon call options, approximately 21% above typical call volume. While options activity is not a fundamental indicator, the elevated call buying may support near-term momentum and suggests some traders are positioning for further gains.
• Positive Sentiment: Goldman Sachs continues to view Devon as an attractive energy dividend opportunity. Goldman highlighted Devon alongside other energy dividend stocks that may still offer upside despite the sector’s strong rally. Brent crude above $95 per barrel and continued strength in the energy sector provide a supportive backdrop for Devon’s oil and gas earnings and shareholder returns. Goldman’s Energy Dividend Picks: Why Devon and HF Sinclair Still Offer Upside
• Neutral Sentiment: Post-earnings momentum remains a focus for investors. Devon is up 16.5% since its latest earnings release, prompting analysis of whether earnings estimates can support additional gains. Its relatively low valuation, including a price-to-earnings ratio near 11, supports the value case, but the stock’s proximity to its 12-month high may limit immediate upside. Devon Energy up 16.5% since last earnings report

Insider Transactions at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction that occurred on 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 directly owned 138,529 shares in the company, valued at $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.58% of the stock is currently owned by corporate insiders.

Devon Energy Trading Down 1.5%

NYSE DVN opened at $48.08 on Friday. The stock's 50-day simple moving average is $44.79 and its two-hundred day simple moving average is $45.78. Devon Energy Corporation has a twelve month low of $31.47 and a twelve month high of $52.71. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $52.89 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.31 and a beta of 0.37.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.17. The firm had revenue of $7.42 billion during 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 company's revenue for the quarter was up 73.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. Research analysts forecast that Devon Energy Corporation will post 5.24 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.7%. Devon Energy's dividend payout ratio is currently 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.

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