NFJ Investment Group LLC Makes New Investment in Devon Energy Corporation $DVN

NFJ Investment Group LLC bought a new stake in Devon Energy Corporation (NYSE:DVN) in the second quarter, Holdings Channel.com reports. The institutional investor bought 147,755 shares of the energy company’s stock, valued at approximately $6,105,000.

A number of other institutional investors have also added to or reduced their stakes in DVN. BlackRock Inc. lifted its holdings in shares of Devon Energy by 57.6% in the 2nd quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock worth $3,941,054,000 after purchasing an additional 34,871,366 shares in the last quarter. State Street Corp increased its stake in Devon Energy by 0.6% during the 4th 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 increased its stake in Devon Energy by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company’s stock valued at $700,238,000 after purchasing an additional 186,743 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Devon Energy by 17.5% during the fourth 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. Finally, Bank of New York Mellon Corp raised its holdings in Devon Energy by 137.4% during the second quarter. Bank of New York Mellon Corp now owns 9,628,124 shares of the energy company’s stock worth $397,834,000 after buying an additional 5,573,172 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of the 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 sale, the senior vice president directly owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.58% of the company’s stock.

Devon Energy Stock Up 2.4%

Devon Energy stock opened at $49.35 on Friday. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The firm’s 50-day simple moving average is $43.65 and its 200 day simple moving average is $45.42. The stock 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 (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter last year, the business posted $0.84 EPS. The company’s revenue for the quarter was up 73.1% on a year-over-year basis. Research analysts predict that Devon Energy Corporation will post 5.04 EPS for the current fiscal year.

Devon Energy Announces Dividend

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

Devon Energy News Roundup

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

Analyst Upgrades and Downgrades

DVN has been the subject of a number of analyst reports. Mizuho lifted their price objective on shares of Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. lowered their target price on shares of Devon Energy from $62.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Susquehanna lifted their price target on Devon Energy from $57.00 to $63.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Truist Financial increased their price objective on Devon Energy from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Argus restated a “buy” rating and issued a $45.85 target price on shares of Devon Energy in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.15.

Devon Energy Company 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.