Sterling Capital Management LLC Sells 15,976 Shares of Devon Energy Corporation $DVN

Sterling Capital Management LLC decreased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 43.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 20,402 shares of the energy company’s stock after selling 15,976 shares during the period. Sterling Capital Management LLC’s holdings in Devon Energy were worth $1,027,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DVN. Fruth Investment Management purchased a new position in Devon Energy during the 1st quarter valued at $204,000. Wealth Effects LLC grew its position in Devon Energy by 1.6% in the 1st quarter. Wealth Effects LLC now owns 32,650 shares of the energy company’s stock valued at $1,643,000 after acquiring an additional 500 shares during the last quarter. Corecam AG purchased a new stake in Devon Energy in the first quarter worth $302,000. SmartHarvest Portfolios LLC purchased a new stake in Devon Energy in the first quarter worth $201,000. Finally, Independent Wealth Network Inc. lifted its position in shares of Devon Energy by 9.5% during the first quarter. Independent Wealth Network Inc. now owns 9,727 shares of the energy company’s stock worth $489,000 after purchasing an additional 846 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Insider Activity at Devon Energy

In other Devon Energy news, SVP Adam M. Vela sold 24,342 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the sale, the senior vice president owned 130,540 shares in the company, valued at $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president directly owned 138,529 shares in the company, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 112,371 shares of company stock valued at $5,258,059 over the last ninety days. 4.58% of the stock is owned by company insiders.

Key Devon Energy News

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

• Positive Sentiment: Zacks Research raised several near- and longer-term earnings estimates for Devon Energy, including Q3 2026, Q4 2026, Q1 2027, FY2026, and FY2027, which suggests improving profit expectations. Article Title
• Positive Sentiment: Goldman Sachs kept a Buy rating on DVN despite trimming its price target slightly to $53 from $54, implying continued upside from current levels. Article Title
• Neutral Sentiment: Devon Energy shareholders reinforced board and governance stability at the company’s 2026 annual meeting, a development that is supportive of continuity but not a major operating catalyst. Article Title
• Neutral Sentiment: Zacks noted that Devon Energy’s stock was moving lower even as the broader market rose, but the report did not identify a company-specific operational setback beyond the recent trading weakness. Article Title
• Negative Sentiment: Goldman Sachs did cut its price target, which may have added some mild downside pressure even though the firm stayed constructive on the stock. Article Title

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Devon Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Susquehanna raised their price target on shares of Devon Energy from $52.00 to $57.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. started coverage on shares of Devon Energy in a report on Monday, June 8th. They set an “overweight” rating and a $62.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Devon Energy in a research report on Thursday, June 11th. Finally, Citigroup raised their target price on shares of Devon Energy from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Two equities research 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 stock. According to data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $58.81.

Devon Energy Stock Down 1.6%

NYSE:DVN opened at $41.32 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 1-year low of $31.45 and a 1-year high of $52.71. The company has a 50-day moving average of $45.86 and a 200 day moving average of $43.59. The firm has a market cap of $25.68 billion, a PE ratio of 11.51 and a beta of 0.37.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates 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 posted $0.82 EPS. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. As a group, research analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was 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 yield of 3.1%. Devon Energy’s dividend payout ratio is 35.65%.

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.