Convergence Investment Partners LLC Acquires New Shares in Devon Energy Corporation $DVN

Convergence Investment Partners LLC acquired a new stake in Devon Energy Corporation (NYSE:DVN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,867 shares of the energy company’s stock, valued at approximately $874,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Horizon Corp bought a new stake in Devon Energy in the third quarter valued at about $26,000. Accredited Wealth Management LLC increased its holdings in shares of Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after acquiring an additional 308 shares in the last quarter. Ameriflex Group Inc. increased its holdings in shares of Devon Energy by 702.0% in the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after acquiring an additional 702 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Devon Energy in the third quarter worth about $31,000. Finally, Olistico Wealth LLC bought a new stake in shares of Devon Energy in the fourth quarter worth about $31,000. Institutional investors own 69.72% of the company’s stock.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Rising oil prices are helping Devon Energy, and one recent bull case says the company still looks cheap with commodity tailwinds expected into the second half of 2026. Article: Devon Energy: Still Cheap With FQ2’26 & H2’26 Commodity Tailwinds – Reiterate Buy
• Positive Sentiment: Recent coverage highlights Devon as a strong way to benefit from oil-market strength, with investors also focusing on the company’s post-merger scale and higher dividend outlook after the Coterra combination. Article: Devon Energy jumps as oil prices rise and investors digest post-merger capital return outlook
• Positive Sentiment: Devon’s higher quarterly dividend and ongoing analyst price targets in the mid-to-high $50s to $60s continue to support the stock’s income and valuation appeal.
• Neutral Sentiment: Evercore initiated coverage with an “in-line” rating and a $54 price target, suggesting fair value rather than a strong catalyst for a sharp re-rating.
• Neutral Sentiment: Articles comparing Devon Energy with Chevron frame DVN as the more oil-sensitive pick, which can help when crude is strong but leaves it more exposed if prices weaken. Article: Devon Energy vs. Chevron: Here’s the Better Oil Stock to Own Right Now
• Negative Sentiment: Scotiabank sharply reduced FY2026 and FY2027 earnings estimates, pointing to weaker profitability expectations ahead and weighing on investor sentiment. Article: Why Devon Energy’s (NYSE:DVN) Soft Earnings Are Just The Beginning Of Its Problems
• Negative Sentiment: Insider selling by SVP Adam Vela, along with the weak recent earnings report that missed revenue estimates, may be adding pressure by reinforcing concerns about near-term fundamentals. Article: Devon Energy (NYSE:DVN) SVP Adam Vela Sells 24,342 Shares

Insider Transactions at Devon Energy

In related news, EVP Jeffrey L. Ritenour sold 70,029 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the completion of the transaction, the executive vice president directly owned 428,452 shares in the company, valued at approximately $19,991,570.32. This trade represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the transaction, the senior vice president owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. The trade was a 15.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.71% of the stock is currently owned by company insiders.

Devon Energy Stock Up 4.9%

NYSE:DVN opened at $49.55 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. The company has a market cap of $30.79 billion, a PE ratio of 13.80, a PEG ratio of 0.79 and a beta of 0.43. Devon Energy Corporation has a 52-week low of $30.24 and a 52-week high of $52.71. The stock has a 50-day simple moving average of $47.75 and a 200 day simple moving average of $41.38.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The firm’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. On average, sell-side analysts expect that Devon Energy Corporation will post 5.25 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, June 15th. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. Devon Energy’s dividend payout ratio is 26.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Mizuho increased their price target on Devon Energy from $51.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Zacks Research upgraded Devon Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Roth Mkm restated a “buy” rating and issued a $57.00 price target on shares of Devon Energy in a report on Tuesday, April 28th. TD Cowen increased their price target on Devon Energy from $46.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, March 17th. Finally, Scotiabank increased their price target on Devon Energy from $41.00 to $46.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Four analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.41.

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.