New York State Teachers Retirement System Increases Stake in Devon Energy Corporation $DVN

Key Points

• New York State Teachers Retirement System increased its stake in Devon Energy (NYSE:DVN) by 6.8% in Q4, buying 41,505 shares to hold 654,954 shares worth about $23.99 million (roughly 0.10% of the company).
• Analyst sentiment is broadly positive — DVN carries a consensus "Moderate Buy" with an average price target of $54.85 and several firms (e.g., Wells Fargo $66, Wolfe $65) raising targets, while institutional ownership remains high at 69.72% as multiple large funds also added to positions.

New York State Teachers Retirement System lifted its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 654,954 shares of the energy company's stock after buying an additional 41,505 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Devon Energy worth $23,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in shares of Devon Energy by 5.0% during the third quarter. Victory Capital Management Inc. now owns 11,845,958 shares of the energy company's stock valued at $415,319,000 after buying an additional 560,652 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Devon Energy by 6.3% during the third quarter. Dimensional Fund Advisors LP now owns 9,353,062 shares of the energy company's stock valued at $327,938,000 after buying an additional 552,068 shares during the period. AQR Capital Management LLC increased its position in shares of Devon Energy by 29.3% during the third quarter. AQR Capital Management LLC now owns 8,223,219 shares of the energy company's stock valued at $288,306,000 after buying an additional 1,862,720 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Devon Energy by 5.5% during the third quarter. Thrivent Financial for Lutherans now owns 4,712,190 shares of the energy company's stock valued at $165,210,000 after buying an additional 246,179 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Devon Energy by 3.4% during the third quarter. Legal & General Group Plc now owns 3,286,761 shares of the energy company's stock valued at $115,234,000 after buying an additional 106,824 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analysts Set New Price Targets

DVN has been the topic of several research analyst reports. Wells Fargo & Company reiterated an "overweight" rating and set a $66.00 price target on shares of Devon Energy in a research report on Monday, April 20th. Roth Mkm reiterated a "buy" rating and set a $57.00 price target on shares of Devon Energy in a research report on Tuesday. Wolfe Research boosted their price target on shares of Devon Energy from $64.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Siebert Williams Shank upped their price objective on shares of Devon Energy from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, January 26th. Finally, Susquehanna upped their price objective on shares of Devon Energy from $52.00 to $57.00 and gave the stock a "positive" rating in a report on Tuesday, April 21st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.85.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Zacks upgraded Devon to a top momentum/strong‑buy view and highlights DVN’s favorable style scores and upward earnings revisions, supporting near‑term buying interest. Read More.
• Positive Sentiment: Analysts have recently raised earnings estimates and several outlets note upgrades that pushed the shares higher earlier this week, suggesting improved earnings visibility heading into Q1 results. Read More.
• Positive Sentiment: Devon led energy gains in recent NYSE trading, reflecting sector strength and investor preference for energy names with buybacks/dividend capacity. Read More.
• Positive Sentiment: Progress on the Coterra deal is visible: S&P is replacing Coterra with Veeva ahead of the expected close of Devon’s acquisition, which signals the merger is advancing through closing steps. That can drive scale and cash‑flow synergies if completed. Read More.
• Neutral Sentiment: Street prep pieces and consensus estimates for DVN’s Q1 metrics continue to circulate — useful for event traders but not new fundamental catalysts by themselves. Read More.
• Neutral Sentiment: Unusually large options activity has been flagged on DVN, indicating elevated trader interest/positioning but not revealing directional conviction on fundamentals. Read More.
• Neutral Sentiment: Coverage pieces note mixed analyst sentiment across the sector — some see longer‑term upside while others caution on commodity cyclicality; views remain heterogeneous. Read More.
• Negative Sentiment: Investor pressure and governance debates (notably from activist investors around the Coterra merger and capital‑allocation choices) could weigh on the stock if integration or board/capital decisions become contentious. Read More.

Devon Energy Trading Down 1.5%

NYSE:DVN opened at $50.62 on Friday. The company's 50 day moving average price is $47.09 and its 200-day moving average price is $40.44. Devon Energy Corporation has a 52 week low of $29.70 and a 52 week high of $52.71. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. The stock has a market cap of $31.43 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.80 and a beta of 0.43.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The business's revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities research analysts forecast that Devon Energy Corporation will post 5.66 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.9%. Devon Energy's dividend payout ratio is presently 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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