New York State Teachers Retirement System Buys 41,505 Shares of Devon Energy Corporation $DVN

New York State Teachers Retirement System boosted its stake in shares of Devon Energy Corporation (NYSE:DVN) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 654,954 shares of the energy company’s stock after purchasing an additional 41,505 shares during the period. New York State Teachers Retirement System’s holdings in Devon Energy were worth $23,991,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in Devon Energy by 5.0% during the third quarter. Victory Capital Management Inc. now owns 11,845,958 shares of the energy company’s stock valued at $415,319,000 after purchasing an additional 560,652 shares during the period. Dimensional Fund Advisors LP lifted its position in Devon Energy by 6.3% during the third quarter. Dimensional Fund Advisors LP now owns 9,353,062 shares of the energy company’s stock valued at $327,938,000 after purchasing an additional 552,068 shares during the period. AQR Capital Management LLC lifted its position in Devon Energy by 29.3% during the third quarter. AQR Capital Management LLC now owns 8,223,219 shares of the energy company’s stock valued at $288,306,000 after purchasing an additional 1,862,720 shares during the period. Thrivent Financial for Lutherans lifted its position in Devon Energy by 5.5% during the third quarter. Thrivent Financial for Lutherans now owns 4,712,190 shares of the energy company’s stock valued at $165,210,000 after purchasing an additional 246,179 shares during the period. Finally, Legal & General Group Plc lifted its position in Devon Energy by 3.4% during the third quarter. Legal & General Group Plc now owns 3,286,761 shares of the energy company’s stock valued at $115,234,000 after purchasing an additional 106,824 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on DVN shares. JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. UBS Group lowered their price objective on shares of Devon Energy from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Citigroup increased their price target on shares of Devon Energy from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. Weiss Ratings upgraded shares of Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Finally, Mizuho increased their price target on shares of Devon Energy from $51.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Zacks upgraded Devon to a top momentum/strong?buy view and highlights DVN’s favorable style scores and upward earnings revisions, supporting near?term buying interest. Read More.
• Positive Sentiment: Analysts have recently raised earnings estimates and several outlets note upgrades that pushed the shares higher earlier this week, suggesting improved earnings visibility heading into Q1 results. Read More.
• Positive Sentiment: Devon led energy gains in recent NYSE trading, reflecting sector strength and investor preference for energy names with buybacks/dividend capacity. Read More.
• Positive Sentiment: Progress on the Coterra deal is visible: S&P is replacing Coterra with Veeva ahead of the expected close of Devon’s acquisition, which signals the merger is advancing through closing steps. That can drive scale and cash?flow synergies if completed. Read More.
• Neutral Sentiment: Street prep pieces and consensus estimates for DVN’s Q1 metrics continue to circulate — useful for event traders but not new fundamental catalysts by themselves. Read More.
• Neutral Sentiment: Unusually large options activity has been flagged on DVN, indicating elevated trader interest/positioning but not revealing directional conviction on fundamentals. Read More.
• Neutral Sentiment: Coverage pieces note mixed analyst sentiment across the sector — some see longer?term upside while others caution on commodity cyclicality; views remain heterogeneous. Read More.
• Negative Sentiment: Investor pressure and governance debates (notably from activist investors around the Coterra merger and capital?allocation choices) could weigh on the stock if integration or board/capital decisions become contentious. Read More.

Devon Energy Stock Down 1.5%

DVN opened at $50.62 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 1-year low of $29.70 and a 1-year high of $52.71. The company has a market capitalization of $31.43 billion, a PE ratio of 12.14, a PEG ratio of 0.80 and a beta of 0.43. The firm’s 50 day simple moving average is $47.09 and its two-hundred day simple moving average is $40.44.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the firm earned $1.10 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, equities analysts forecast that Devon Energy Corporation will post 5.66 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, March 13th. Devon Energy’s dividend payout ratio (DPR) is presently 23.02%.

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.