Ninepoint Partners LP Purchases Shares of 1,700,000 Devon Energy Corporation $DVN

Key Points

• Ninepoint Partners acquired 1.7 million Devon Energy shares worth approximately $70.2 million, making DVN its third-largest holding and representing about 5.4% of its portfolio.
• Devon Energy reported quarterly EPS of $1.57, exceeding the $1.40 analyst consensus, while revenue rose 73.1% year over year to $7.42 billion. The company also declared a quarterly dividend of $0.32 per share, equivalent to a 2.6% yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $59.15 price target versus the stock’s reported $49.35 price; however, an insider recently sold 18,000 shares.

Ninepoint Partners LP acquired a new stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,700,000 shares of the energy company's stock, valued at approximately $70,244,000. Devon Energy comprises about 5.4% of Ninepoint Partners LP's holdings, making the stock its 3rd biggest holding. Ninepoint Partners LP owned 0.27% of Devon Energy at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Woodline Partners LP boosted its holdings in Devon Energy by 98.8% during the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company's stock valued at $4,330,000 after acquiring an additional 57,555 shares during the period. Sivia Capital Partners LLC purchased a new position in Devon Energy in the 2nd quarter worth approximately $403,000. Jump Financial LLC increased its stake in Devon Energy by 58.8% in the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company's stock worth $899,000 after purchasing an additional 10,464 shares during the period. Daiwa Securities Group Inc. lifted its position in Devon Energy by 17.8% in the second quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company's stock valued at $4,736,000 after purchasing an additional 22,482 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Devon Energy by 6.0% in the second quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company's stock valued at $4,586,000 after purchasing an additional 8,127 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Price Performance

DVN opened at $49.35 on Friday. 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 52-week low of $31.47 and a 52-week high of $52.71. The stock has a market capitalization of $54.28 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.37 and a beta of 0.38. The stock's 50 day moving average price is $43.65 and its 200-day moving average price is $45.42.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.17. The company had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The firm's revenue was up 73.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. On average, equities research analysts predict that Devon Energy Corporation will post 5.04 EPS for the current year.

Devon Energy Dividend Announcement

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

Key Stories Impacting Devon Energy

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

• Positive Sentiment: Devon’s production reportedly exceeded guidance following its merger, suggesting potential execution benefits and stronger-than-expected output from the combined portfolio. Devon Energy stock in focus as output tops guidance post-merger
• Positive Sentiment: Argus initiated or reiterated a “Buy” rating on DVN, providing additional support for the stock’s recent strength. Devon Energy Earns Buy Rating from Argus
• Positive Sentiment: Zacks Research raised its FY2026 EPS estimate to $4.96 from $4.53, while increasing estimates for Q4 2026, Q1 2027 and Q1 2028. These revisions indicate better expectations for near-term earnings, though Zacks still rates the shares “Hold.”
• Positive Sentiment: Analyst commentary highlighted Devon’s multi-basin portfolio, low-cost operations and modest leverage as strengths that may help it perform through commodity-price volatility. Shares were reported to have gained 9.2% over the prior month. DVN Stock Outperforms Industry in a Month

Insider Activity at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the sale, the senior vice president directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Devon Energy from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, May 20th. Capital One Financial lowered their price target on shares of Devon Energy from $63.00 to $61.00 and set an "overweight" rating for the company in a report on Tuesday, June 2nd. Morgan Stanley dropped their price target on shares of Devon Energy from $66.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, June 26th. BMO Capital Markets reissued an "outperform" rating on shares of Devon Energy in a report on Wednesday, June 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Devon Energy from $68.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.15.

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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