O Shaughnessy Asset Management LLC Sells 262,511 Shares of Devon Energy Corporation $DVN

O Shaughnessy Asset Management LLC decreased its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 352,197 shares of the energy company's stock after selling 262,511 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.06% of Devon Energy worth $12,901,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC raised its holdings in Devon Energy by 154.6% in the fourth quarter. Manchester Capital Management LLC now owns 1,082 shares of the energy company's stock worth $40,000 after purchasing an additional 657 shares in the last quarter. RWC Asset Management LLP bought a new position in Devon Energy in the fourth quarter worth $7,269,000. Syon Capital LLC grew its stake in shares of Devon Energy by 4.7% in the fourth quarter. Syon Capital LLC now owns 20,155 shares of the energy company's stock worth $738,000 after acquiring an additional 907 shares during the last quarter. ING Groep NV grew its stake in shares of Devon Energy by 125.5% in the fourth quarter. ING Groep NV now owns 185,069 shares of the energy company's stock worth $6,779,000 after acquiring an additional 103,004 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Devon Energy during the fourth quarter valued at $99,000. Institutional investors own 69.72% of the company's stock.

Devon Energy Trading Down 2.4%

Devon Energy stock opened at $44.00 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. Devon Energy Corporation has a one year low of $31.45 and a one year high of $52.71. The stock has a market capitalization of $27.34 billion, a PE ratio of 12.26 and a beta of 0.37. The business's fifty day moving average is $47.32 and its 200 day moving average is $42.93.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The business had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same period last year, the business earned $0.82 earnings per share. The company's quarterly revenue was down 14.5% on a year-over-year basis. On average, sell-side analysts predict that Devon Energy Corporation will post 4.41 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. This is a boost from Devon Energy's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, June 15th. Devon Energy's payout ratio is 26.74%.

Wall Street Analyst Weigh In

DVN has been the subject of several analyst reports. Piper Sandler raised their price target on Devon Energy from $59.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Wall Street Zen downgraded Devon Energy from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Zacks Research downgraded Devon Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Wells Fargo & Company raised their price target on Devon Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Finally, Mizuho raised their price target on Devon Energy from $62.00 to $68.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $58.67.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the transaction, the senior vice president owned 130,540 shares of the company's stock, valued at approximately $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the transaction, the executive vice president directly owned 428,452 shares in the company, valued at approximately $19,991,570.32. This represents a 14.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.58% of the company's stock.

Key Devon Energy News

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

• Positive Sentiment: J.P. Morgan initiated/updated coverage on Devon Energy with an Overweight rating and a $62 price target, signaling meaningful upside from current levels and reinforcing bullish sentiment on the stock. JPMorgan coverage update
• Positive Sentiment: Barclays also reiterated a Buy view, adding to a cluster of favorable analyst calls that support the stock’s valuation. Barclays buy rating
• Positive Sentiment: Devon Energy released an updated 2026 outlook after completing its merger with Coterra, projecting 1.38 million boe/d of production, about $4.9 billion in capital spending, and plans to return up to 70% of free cash flow to shareholders through dividends and buybacks. Updated 2026 outlook
• Positive Sentiment: The company said it expects roughly $600 million in synergies by 2027 and is targeting $1.0 billion in annual pretax synergy run-rate by year-end 2027, which could improve margins and cash generation. Reuters merger forecast
• Neutral Sentiment: Devon also extended deadlines and reported strong early participation in its private exchange offers for Coterra notes, a mostly technical balance-sheet transaction that should help simplify the post-merger capital structure, but is less likely to drive the stock by itself. Exchange offer results
• Neutral Sentiment: The new guidance emphasizes an investment-grade balance sheet and planned debt reduction, which is supportive but largely consistent with management’s long-term capital-return strategy. GlobeNewswire outlook
• Negative Sentiment: Despite the upbeat strategic updates, DVN has been under pressure recently, likely reflecting caution around integration risk, capital spending needs, and oil and gas price volatility after the merger.

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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