Stephens Inc. AR Has $2.12 Million Position in Devon Energy Corporation $DVN

Stephens Inc. AR lowered its holdings in Devon Energy Corporation (NYSE:DVN) by 38.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,223 shares of the energy company’s stock after selling 26,227 shares during the period. Stephens Inc. AR’s holdings in Devon Energy were worth $2,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Devon Energy by 6,666.7% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 812 shares of the energy company’s stock valued at $41,000 after buying an additional 800 shares in the last quarter. Bravias Capital Group LLC purchased a new stake in Devon Energy in the 1st quarter worth about $201,000. Praxis Investment Management Inc. lifted its stake in Devon Energy by 4.0% in the 1st quarter. Praxis Investment Management Inc. now owns 44,403 shares of the energy company’s stock worth $2,234,000 after acquiring an additional 1,690 shares in the last quarter. QRG Capital Management Inc. boosted its position in Devon Energy by 47.1% during the 1st quarter. QRG Capital Management Inc. now owns 207,698 shares of the energy company’s stock worth $10,451,000 after acquiring an additional 66,473 shares during the period. Finally, HB Wealth Management LLC boosted its position in Devon Energy by 9.7% during the 1st quarter. HB Wealth Management LLC now owns 29,897 shares of the energy company’s stock worth $1,504,000 after acquiring an additional 2,634 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the sale, the executive vice president owned 428,452 shares of the company’s stock, valued at $19,991,570.32. The trade was a 14.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 112,371 shares of company stock worth $5,258,059 over the last three months. Corporate insiders own 4.58% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN opened at $42.05 on Friday. The company’s fifty day moving average is $45.01 and its 200-day moving average is $43.83. Devon Energy Corporation has a 12 month low of $31.45 and a 12 month high of $52.71. The firm has a market cap of $26.13 billion, a price-to-earnings ratio of 11.71 and a beta of 0.38. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share 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 the consensus estimate of $4.34 billion. During the same quarter in the prior year, the business posted $0.82 EPS. The firm’s revenue for the quarter was down 14.5% compared to the same quarter last year. Equities analysts expect that Devon Energy Corporation will post 4.81 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.0%. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, June 15th. Devon Energy’s dividend payout ratio is 35.65%.

Key Devon Energy News

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

• Positive Sentiment: Devon completed a settlement tied to Coterra notes, exchanging Coterra Energy senior debt for new Devon-issued notes and cash. Investors may see the move as a liability-reshaping step that supports financial flexibility and could help the company after its large Coterra deal. Devon Energy (DVN) Could Be 31% Undervalued On Its Coterra Notes Exchange
• Neutral Sentiment: Truist lowered its price target on Devon Energy to $61 from $66 but kept a buy rating, while JPMorgan cut its target to $55 from $62 and maintained overweight. The cuts signal a softer near-term view, but both firms still see upside from current levels. Analyst price target changes
• Negative Sentiment: Kimmeridge Energy Management criticized Devon’s asset-sale efforts as too slow after the company’s Coterra transaction, suggesting investors remain concerned that monetization and portfolio optimization may be taking longer than expected. Kimmeridge sees Devon Energy’s asset sale effort after Coterra deal as too slow – Bloomberg
• Negative Sentiment: Kimmeridge also faulted the pace of Devon’s divestment program, reinforcing concerns that the company may face continued shareholder pressure to move faster on asset sales. Kimmeridge Faults Pace of Devon Energy’s Asset-Sale Efforts

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Devon Energy in a research report on Wednesday, June 10th. Raymond James Financial lowered their price objective on shares of Devon Energy from $72.00 to $66.00 and set a “strong-buy” rating on the stock in a research report on Monday, June 15th. Mizuho upped their price objective on shares of Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. UBS Group decreased their target price on shares of Devon Energy from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, June 10th. Finally, Evercore raised shares of Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 target price for the company in a research note on Wednesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $59.56.

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.