SG Trading Solutions LLC Makes New Investment in Devon Energy Corporation $DVN

Key Points

• SG Trading Solutions LLC opened a new position in Devon Energy during the fourth quarter, buying 24,321 shares worth about $891,000.
• Institutional ownership remains high, with hedge funds and other investors holding about 69.72% of Devon Energy’s stock. Several large firms, including State Street, Geode Capital, and Victory Capital, also increased their stakes.
• Devon Energy recently raised its quarterly dividend to $0.32 per share from $0.24, implying a 3.0% yield, even as its latest earnings missed Wall Street expectations on both revenue and EPS.

SG Trading Solutions LLC purchased a new stake in Devon Energy Corporation (NYSE:DVN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,321 shares of the energy company's stock, valued at approximately $891,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp raised its stake in Devon Energy by 0.6% in the fourth quarter. State Street Corp now owns 35,542,293 shares of the energy company's stock valued at $1,301,914,000 after purchasing an additional 212,074 shares in the last quarter. Geode Capital Management LLC grew its stake in Devon Energy by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company's stock worth $700,238,000 after buying an additional 186,743 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Devon Energy by 17.5% in the 4th quarter. Victory Capital Management Inc. now owns 13,916,979 shares of the energy company's stock worth $509,779,000 after buying an additional 2,071,021 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Devon Energy by 6.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,353,062 shares of the energy company's stock worth $327,938,000 after buying an additional 552,068 shares during the last quarter. Finally, Kimmeridge Energy Management Company LLC raised its position in shares of Devon Energy by 56.5% during the 4th quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company's stock valued at $324,204,000 after buying an additional 3,195,862 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $42.21 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The business's 50 day simple moving average is $46.49 and its two-hundred day simple moving average is $43.32. The stock has a market capitalization of $26.23 billion, a P/E ratio of 11.76 and a beta of 0.37. Devon Energy Corporation has a one year low of $31.45 and a one year high of $52.71.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.02). The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.34 billion. Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The business's revenue for the quarter was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 EPS. Analysts forecast that Devon Energy Corporation will post 4.97 EPS for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from Devon Energy's previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a dividend yield of 3.0%. Devon Energy's payout ratio is presently 35.65%.

Analyst Ratings Changes

A number of analysts have recently issued reports on DVN shares. Royal Bank Of Canada lifted their price objective on shares of Devon Energy from $46.00 to $59.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 8th. Wall Street Zen raised Devon Energy from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Barclays raised their price target on Devon Energy from $54.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Morgan Stanley lifted their price target on Devon Energy from $59.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Finally, Roth Mkm reiterated a "buy" rating and issued a $57.00 price objective on shares of Devon Energy in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $58.44.

Insider Activity at Devon Energy

In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the completion of the sale, the executive vice president owned 428,452 shares of the company's stock, valued at $19,991,570.32. This represents a 14.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Andrea Alexander sold 18,000 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the sale, the senior vice president directly owned 138,529 shares in the company, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 112,371 shares of company stock worth $5,258,059 in the last three months. 4.58% of the stock is owned by insiders.

Devon Energy News Summary

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

• Positive Sentiment: Several recent articles highlight Devon’s diversified multi-basin shale portfolio, disciplined capital allocation, and resilient cash flow, which could support long-term production growth and continued shareholder returns through dividends and buybacks. Can Devon's Multi-Basin Assets Sustain Growth for Years to Come?
• Positive Sentiment: Devon’s newly outlined 2026 production roadmap after the Coterra merger emphasizes high-return assets, especially the Permian Basin, while reaffirming its focus on shareholder returns. Devon's Multi-Basin Assets Sustain Growth for Years to Come?
• Neutral Sentiment: Devon said CEO Clay Gaspar will participate in a J.P. Morgan energy conference next week, which could provide additional commentary but is not a material event by itself. Devon Energy CEO Clay Gaspar to Participate in a Fireside Chat at the J.P. Morgan Energy, Power, Renewables & Mining Conference
• Neutral Sentiment: Market commentary continues to discuss Devon’s valuation and sensitivity to oil prices, but these pieces are largely analytical rather than company-specific catalysts. Devon Energy: Lower Oil, Higher Earnings, Shares Near Key Support
• Negative Sentiment: TOMS Capital has reportedly built a major stake in Devon Energy (DVN) and is pushing for faster asset sales or even a sale of the company, adding uncertainty around strategy and future corporate actions. Activist TOMS Capital pushes US shale producer Devon to quicken asset sales or sell itself, sources say
• Negative Sentiment: Another report said Devon is facing increased activist pressure after its merger with Coterra, which may be contributing to the stock’s weakness as investors assess potential disruption. Devon Energy Under Pressure as Activist Investor Toms Capital Builds Major Stake

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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