Sumitomo Mitsui Trust Group Inc. Sells 84,432 Shares of Devon Energy Corporation $DVN

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in Devon Energy by 4.6%, selling 84,432 shares in Q4 and now holds 1,754,836 shares (about 0.28%) valued at roughly $64.28 million.
• Broker sentiment has turned constructive with several firms (Bernstein, BMO, Morgan Stanley, Raymond James) raising price targets into the mid‑to‑high $50s, leaving a consensus rating of "Moderate Buy" and an average target near $53.29.
• Devon beat Q4 EPS estimates ($0.82 vs. $0.81), pays a $0.24 quarterly dividend (2.1% yield), trades in the mid‑$40s with a ~$28.1B market cap, and has a near‑term catalyst in its Q1 earnings report scheduled for May 5.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,754,836 shares of the energy company's stock after selling 84,432 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Devon Energy worth $64,280,000 as of its most recent SEC filing.

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

Key Devon Energy News

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

• Positive Sentiment: Sanford C. Bernstein raised its price target to $59 and kept an Outperform rating, signaling confidence in Devon’s fundamentals and upside potential. Bernstein adjusts price target on Devon Energy to $59 from $42; maintains Outperform
• Positive Sentiment: Jefferies lifted its target to $53 (maintained Hold), and BMO recently raised its target to ~$60 — multiple broker upgrades point to constructive medium‑term views among some analysts. Jefferies adjusts price target on Devon Energy to $53 from $44; maintains Hold
• Positive Sentiment: Zacks (and other outlets) have lifted Q1 EPS estimates for Devon, suggesting analysts expect better near-term earnings relative to prior assumptions. Q1 EPS Estimates for Devon Energy Lifted by Zacks Research
• Positive Sentiment: Unusually large call buying was reported (≈37,050 calls, ~41% above average), which can indicate bullish positioning or speculative interest ahead of catalysts. (No external link available.)
• Neutral Sentiment: Devon was named in a Seeking Alpha “Undercovered Dozen” piece — useful for awareness/visibility but not an immediate price driver. Undercovered Dozen: Zscaler, Aeluma, Devon Energy And More
• Neutral Sentiment: Devon has its Q1 2026 earnings scheduled for May 5 — that upcoming report is a near-term catalyst that may re-center stock action away from macro headlines. Devon Energy falls as crude prices pull back and an analyst cuts its price target
• Negative Sentiment: Crude prices eased on reports of rising hopes for renewed U.S.–Iran talks; the oil pullback is a clear headwind for U.S. E&P names like Devon and likely drove immediate selling pressure. Devon Energy falls as crude prices pull back and an analyst cuts its price target
• Negative Sentiment: Susquehanna cut its price target to $41 from $52 (while keeping a Positive rating), and that note added incremental selling pressure amid the oil weakness. Devon Energy falls as crude prices pull back and an analyst cuts its price target
• Negative Sentiment: Market reports noted Devon settled lower on the session, reflecting the combination of macro oil moves and analyst-note flows. Devon Energy (DVN) Stock Dips While Market Gains: Key Facts

Devon Energy Stock Performance

NYSE DVN opened at $45.26 on Wednesday. The firm's fifty day moving average price is $46.28 and its two-hundred day moving average price is $39.39. The stock has a market cap of $28.13 billion, a PE ratio of 10.85, a PEG ratio of 0.92 and a beta of 0.47. 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 fifty-two week low of $28.35 and a fifty-two week high of $52.71.

Devon Energy (NYSE:DVN - Get Free Report) last announced 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 return on equity of 16.28% and a net margin of 15.37%.The company had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $3.67 billion. During the same period in the prior year, the company earned $1.10 EPS. Devon Energy's revenue was down 6.4% compared to the same quarter last year. On average, equities analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a $0.24 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.96 annualized dividend and a yield of 2.1%. Devon Energy's dividend payout ratio (DPR) is currently 23.02%.

Analyst Ratings Changes

DVN has been the topic of a number of recent analyst reports. Raymond James Financial lifted their price objective on shares of Devon Energy from $44.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, February 11th. BMO Capital Markets raised their target price on Devon Energy from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, April 7th. Wolfe Research lifted their price target on Devon Energy from $64.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. Zacks Research raised Devon Energy from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Finally, Morgan Stanley upped their price objective on Devon Energy from $46.00 to $59.00 and gave the stock an "overweight" rating in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.29.

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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