Tocqueville Asset Management L.P. Acquires New Position in Devon Energy Corporation $DVN

Key Points

• Tocqueville Asset Management initiated a position in Devon Energy during the second quarter, purchasing 34,067 shares valued at approximately $1.4 million. Institutional investors collectively own 69.72% of the company.
• Devon Energy reported quarterly EPS of $1.57, exceeding the $1.40 consensus estimate, while revenue of $7.42 billion rose 73.1% year over year and surpassed expectations.
• The company declared a quarterly dividend of $0.32 per share, equivalent to a 2.6% annualized yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $59.15, compared with a recent share price of $49.35.

Tocqueville Asset Management L.P. bought a new position in Devon Energy Corporation (NYSE:DVN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 34,067 shares of the energy company's stock, valued at approximately $1,408,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Woodline Partners LP lifted its holdings in shares of Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company's stock worth $4,330,000 after acquiring an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Devon Energy during the 2nd quarter valued at $403,000. Jump Financial LLC grew 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 valued at $899,000 after purchasing an additional 10,464 shares during the last quarter. Daiwa Securities Group Inc. grew 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 valued at $4,736,000 after purchasing an additional 22,482 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Devon Energy by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company's stock worth $4,586,000 after purchasing an additional 8,127 shares during the period. 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 $49.35 on Friday. The firm has a market cap 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. Devon Energy Corporation has a 12-month low of $31.47 and a 12-month high of $52.71. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The company's fifty day simple moving average is $43.65 and its two-hundred day simple moving average is $45.42.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.17. The firm had revenue of $7.42 billion for the quarter, compared to analysts' expectations of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company's revenue for the quarter was up 73.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 earnings per share. As a group, equities analysts expect that Devon Energy Corporation will post 5.04 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, September 15th. Devon Energy's payout ratio is currently 30.40%.

Insider Transactions at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president owned 138,529 shares of the company's stock, valued at $6,474,845.46. This represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Barclays lowered their price target on shares of Devon Energy from $62.00 to $58.00 and set an "overweight" rating for the company in a research note on Monday. Jefferies Financial Group raised their price objective on Devon Energy from $62.00 to $63.00 and gave the company a "buy" rating in a research note on Monday, May 18th. JPMorgan Chase & Co. decreased their price objective on Devon Energy from $62.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, July 8th. Weiss Ratings raised Devon Energy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Finally, Truist Financial increased their target price on Devon Energy from $61.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, August 6th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.15.

More Devon Energy News

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

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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