Russell Investments Group Ltd. Has $29.92 Million Stock Position in Devon Energy Corporation $DVN

Key Points

• Russell Investments trimmed its stake in Devon Energy by 25.7% in Q3, selling 295,114 shares and now holds 853,207 shares valued at about $29.92 million (roughly 0.14% of the company).
• Analyst sentiment is largely bullish—Barclays, UBS and Jefferies have raised price targets/ratings and MarketBeat shows a consensus of Moderate Buy with a $48.85 target.
• Devon slightly beat quarterly EPS ($0.82 vs. $0.81) and announced a $0.24 quarterly dividend (ex-dividend March 13) implying a ~2.1% yield; the company has a market cap near $28.6 billion and a P/E of 11.07.

Russell Investments Group Ltd. cut its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 25.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 853,207 shares of the energy company's stock after selling 295,114 shares during the period. Russell Investments Group Ltd. owned approximately 0.14% of Devon Energy worth $29,918,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DVN. Aprio Wealth Management LLC lifted its position in Devon Energy by 4.1% in the 3rd quarter. Aprio Wealth Management LLC now owns 7,521 shares of the energy company's stock valued at $264,000 after acquiring an additional 297 shares in the last quarter. Accredited Wealth Management LLC increased its holdings in Devon Energy by 61.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company's stock worth $28,000 after purchasing an additional 308 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Devon Energy by 2.6% in the third quarter. OneDigital Investment Advisors LLC now owns 12,620 shares of the energy company's stock worth $442,000 after purchasing an additional 318 shares during the last quarter. US Bancorp DE raised its stake in shares of Devon Energy by 0.3% in the third quarter. US Bancorp DE now owns 113,308 shares of the energy company's stock worth $3,973,000 after purchasing an additional 329 shares during the last quarter. Finally, ORG Partners LLC lifted its holdings in shares of Devon Energy by 65.7% in the third quarter. ORG Partners LLC now owns 888 shares of the energy company's stock valued at $31,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on DVN. Barclays upped their price target on Devon Energy from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Weiss Ratings raised shares of Devon Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, January 28th. TD Cowen upgraded shares of Devon Energy to a "hold" rating in a research note on Monday, February 9th. UBS Group increased their target price on shares of Devon Energy from $50.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Finally, Jefferies Financial Group raised their price target on shares of Devon Energy from $36.00 to $44.00 in a research report on Monday. Twenty-three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $48.85.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Piper Sandler raised its price target to $67 and kept an Overweight rating—implies ~45% upside from current levels. Piper Sandler raise
• Positive Sentiment: Wolfe Research boosted its price target to $64, another analyst upgrade adding weight to buy-side interest. Wolfe Research boost
• Positive Sentiment: Jefferies reiterated/expressed expectation that DVN shares should rise, supporting analyst-driven demand. Jefferies commentary
• Positive Sentiment: Unusual options flow: about 99,358 call contracts traded (≈311% above average), signaling large speculative or hedged bullish bets that can amplify intraday upside.
• Positive Sentiment: Geopolitical tensions in the Middle East have pushed oil and gas prices higher, directly boosting Devon’s realized pricing outlook as an oil & gas producer. Middle East tensions lift oil
• Positive Sentiment: Jim Cramer flagged a potential natural-gas shortage and said Devon is well positioned—media attention can drive retail interest. Cramer on Devon
• Neutral Sentiment: Coverage note: Devon has recently underperformed some energy peers even as analysts remain optimistic—this keeps upside potential but signals relative weakness to monitor. Barchart analysis
• Negative Sentiment: Counterpoint: a Motley Fool piece warns U.S. supply could limit how much Devon benefits from crude rallies, capping potential gains if prices retreat. Fool analysis

Devon Energy Stock Performance

NYSE DVN opened at $46.17 on Friday. The company has a market capitalization of $28.63 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 4.59 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $46.41. The company has a 50-day simple moving average of $41.12 and a 200 day simple moving average of $37.16.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share 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 $17.19 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The company's quarterly revenue was down 6.4% on a year-over-year basis. On average, research analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.24 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.96 annualized dividend and a yield of 2.1%. Devon Energy's dividend payout ratio is presently 23.02%.

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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