Confluence Investment Management LLC Takes Position in Devon Energy Corporation $DVN

Confluence Investment Management LLC purchased a new position in Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 28,927 shares of the energy company’s stock, valued at approximately $1,195,000.

Other hedge funds also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Devon Energy during the 4th quarter valued at about $25,000. MV Capital Management Inc. purchased a new position in Devon Energy in the fourth quarter worth about $29,000. Garton & Associates Financial Advisors LLC purchased a new position in Devon Energy in the fourth quarter worth about $29,000. Elyxium Wealth LLC bought a new position in shares of Devon Energy in the fourth quarter worth approximately $31,000. Finally, DV Equities LLC bought a new position in shares of Devon Energy in the fourth quarter worth approximately $32,000. Institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other news, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the transaction, the senior vice president directly owned 130,540 shares of the company’s stock, valued at $6,162,793.40. This represents a 15.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the transaction, the executive vice president directly owned 428,452 shares in the company, valued at $19,991,570.32. The trade was a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 112,371 shares of company stock worth $5,258,059. Insiders own 4.58% of the company’s stock.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Q2 results exceeded expectations. Devon reported adjusted earnings of $1.57 per share, above the $1.40 consensus estimate, while revenue reached $7.42 billion versus expectations of $6.01 billion. Revenue increased 73.1% year over year, and earnings rose from $0.84 per share in the prior-year quarter. Devon Energy Reports Strong Q2 CY2026
• Positive Sentiment: Cash generation and shareholder returns were robust. The company reported $3.7 billion in operating cash flow and $1.7 billion in adjusted free cash flow, returning $1.063 billion through dividends, buybacks and debt reduction. The board also approved a 33% increase in the fixed quarterly dividend to $0.32 per share. Devon Energy Reports Second-Quarter Profit
• Positive Sentiment: Production and forward guidance were constructive. Second-quarter oil production averaged 503,000 barrels per day, at the high end of guidance. Devon expects third-quarter production of 1.66 million to 1.69 million barrels of oil equivalent per day, reflecting the expanded post-merger operating base. Capital spending was also 2% below the guidance midpoint.
• Neutral Sentiment: Devon announced the acquisition of 16,300 net acres in the Delaware Basin for $2.6 billion. The move could strengthen its long-term growth inventory, although investors will assess the purchase price and integration following the Coterra merger.
• Neutral Sentiment: Devon and HXMX will present research showing that AI-based geological interpretation matched expert geoscientists in a Williston Basin study. The potential efficiency benefits are encouraging, but the presentation is unlikely to materially affect near-term earnings. HXMX AI and Devon Energy Study
• Negative Sentiment: Two Devon executives reported open-market share sales during the past six months. These transactions are relatively small compared with the company’s market value, but they may add a modest negative signal for sentiment.

Devon Energy Stock Performance

Shares of DVN stock opened at $44.01 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average price of $43.56 and a 200-day moving average price of $44.79. Devon Energy Corporation has a 52 week low of $31.47 and a 52 week high of $52.71. The firm has a market capitalization of $27.34 billion, a PE ratio of 12.26 and a beta of 0.38.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The company had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue for the quarter was up 73.1% compared to the same quarter last year. As a group, equities research analysts expect that Devon Energy Corporation will post 4.64 earnings per share for the current 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 paid a dividend of $0.32 per share. The ex-dividend date was Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.9%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio (DPR) is presently 35.65%.

Analyst Ratings Changes

DVN has been the subject of several analyst reports. Roth Capital reissued a “buy” rating and set a $57.00 price target on shares of Devon Energy in a research report on Tuesday, April 28th. Citigroup upped their price objective on Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Jefferies Financial Group increased their target price on Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Sanford C. Bernstein lifted their target price on Devon Energy from $42.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, The Goldman Sachs Group decreased their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.56.

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.