Devon Energy Corporation $DVN Stock: International Assets Investment Management LLC Cuts Position

International Assets Investment Management LLC trimmed its stake in Devon Energy Corporation (NYSE:DVN) by 52.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the energy company’s stock after selling 27,079 shares during the period. International Assets Investment Management LLC’s holdings in Devon Energy were worth $1,151,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in DVN. Parcion Private Wealth LLC raised its holdings in Devon Energy by 4.9% in the third quarter. Parcion Private Wealth LLC now owns 9,835 shares of the energy company’s stock worth $453,000 after purchasing an additional 460 shares in the last quarter. Financial Solutions Advisory Group Inc. purchased a new stake in shares of Devon Energy during the third quarter valued at about $232,000. D.A. Davidson & CO. boosted its holdings in shares of Devon Energy by 26.3% in the 3rd quarter. D.A. Davidson & CO. now owns 243,660 shares of the energy company’s stock valued at $11,218,000 after buying an additional 50,752 shares in the last quarter. North Dakota State Investment Board boosted its holdings in shares of Devon Energy by 2.3% in the 3rd quarter. North Dakota State Investment Board now owns 34,523 shares of the energy company’s stock valued at $1,589,000 after buying an additional 791 shares in the last quarter. Finally, William Mack & Associates Inc. bought a new stake in shares of Devon Energy in the 3rd quarter valued at about $38,000. 69.72% of the stock is owned by institutional investors.

More Devon Energy News

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

• Positive Sentiment: Devon agreed to sell its Eagle Ford assets to Crescent Energy for $4.2 billion in cash. The assets account for about 4% of Devon’s production footprint, and management plans to use the proceeds for share repurchases and debt reduction, consistent with a shift toward longer-duration assets. Article: How Could Devon Energy Reshape Its Future With A $4.2 Billion Deal?
• Positive Sentiment: Pre-earnings coverage points to rising estimates, production prospects and potential Coterra merger synergies as supports for the outlook. A separate preview says higher energy prices could boost Q3 earnings. Article: Devon Energy to Report Q3 Earnings: Buy, Sell or Hold the Stock? Article: Devon Energy Q3 Preview
• Positive Sentiment: Coverage reports that six large funds bought Devon shares, which may signal institutional interest ahead of earnings; the article’s headline alone does not establish their investment rationale. Article: 6 Big Funds Bought Devon Energy
• Neutral Sentiment: The Q3 report is a near-term catalyst. Investors will assess results and key operating metrics against expectations, including whether production and the company’s capital plans support its outlook. Article: What Analyst Projections for Key Metrics Reveal About Devon Energy Q3 Earnings
• Negative Sentiment: Analysts warn that swings in oil prices and activist pressure could make Devon’s promised shareholder payouts harder to sustain. That uncertainty may weigh on the stock until the earnings report clarifies the outlook for distributions. Article: Earnings Previews: What Shareholders Should Watch

Analyst Upgrades and Downgrades

DVN has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Devon Energy from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Argus reissued a “buy” rating and set a $45.85 target price on shares of Devon Energy in a research report on Monday, August 17th. Raymond James Financial increased their target price on shares of Devon Energy from $64.00 to $67.00 and gave the company a “strong-buy” rating in a research report on Monday, September 14th. Stifel Nicolaus initiated coverage on shares of Devon Energy in a research note on Thursday, September 10th. They issued a “buy” rating and a $61.00 target price for the company. Finally, Susquehanna lifted their price target on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.72.

Insider Activity

In other news, EVP Robert Ferrall Lowe III sold 6,756 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $50.95, for a total transaction of $344,218.20. Following the transaction, the executive vice president owned 72,720 shares in the company, valued at $3,705,084. This represents a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Clay Gaspar acquired 3,913 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was bought at an average cost of $51.08 per share, with a total value of $199,876.04. Following the completion of the transaction, the chief executive officer directly owned 619,152 shares in the company, valued at $31,626,284.16. The trade was a 0.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 4.58% of the company’s stock.

Devon Energy Trading Down 7.3%

Devon Energy stock opened at $44.14 on Thursday. The stock has a 50-day moving average of $48.82 and a two-hundred day moving average of $45.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. Devon Energy Corporation has a one year low of $32.06 and a one year high of $52.71. The stock has a market cap of $48.55 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 1.24 and a beta of 0.43.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The business had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter last year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 73.1% on a year-over-year basis. On average, research analysts anticipate that Devon Energy Corporation will post 5.49 EPS for the current fiscal year.

Devon Energy Profile

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.