Devon Energy Corporation $DVN Stake Raised by WINTON GROUP Ltd

WINTON GROUP Ltd boosted its position in shares of Devon Energy Corporation (NYSE:DVN) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 754,273 shares of the energy company’s stock after buying an additional 102,982 shares during the period. Devon Energy makes up about 1.0% of WINTON GROUP Ltd’s portfolio, making the stock its 6th biggest holding. WINTON GROUP Ltd owned about 0.12% of Devon Energy worth $27,629,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DVN. AQR Capital Management LLC raised its holdings in shares of Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after acquiring an additional 2,802,137 shares in the last quarter. Sourcerock Group LLC boosted its position in shares of Devon Energy by 2,132.3% during the 2nd quarter. Sourcerock Group LLC now owns 1,751,276 shares of the energy company’s stock valued at $55,708,000 after acquiring an additional 1,672,824 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Devon Energy by 446.7% during the 4th quarter. SG Americas Securities LLC now owns 1,236,301 shares of the energy company’s stock valued at $45,286,000 after acquiring an additional 1,010,170 shares during the last quarter. MUFG Securities EMEA plc boosted its position in shares of Devon Energy by 7,667.4% during the 4th quarter. MUFG Securities EMEA plc now owns 943,817 shares of the energy company’s stock valued at $34,572,000 after acquiring an additional 931,666 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Devon Energy by 704.3% during the 3rd quarter. Wellington Management Group LLP now owns 975,114 shares of the energy company’s stock valued at $34,187,000 after acquiring an additional 853,875 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 3.8%

Shares of DVN opened at $44.27 on Friday. Devon Energy Corporation has a 52-week low of $31.45 and a 52-week high of $52.71. The company has a market cap of $27.51 billion, a PE ratio of 12.33 and a beta of 0.37. 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 business has a fifty day moving average of $47.61 and a 200 day moving average of $42.75.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. Devon Energy’s revenue for the quarter was down 14.5% on a year-over-year basis. On average, sell-side analysts expect that Devon Energy Corporation will post 4.41 EPS for the current year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a yield of 2.9%. Devon Energy’s payout ratio is 26.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their target price on Devon Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. BMO Capital Markets increased their target price on Devon Energy from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Barclays increased their target price on Devon Energy from $54.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. 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 report on Monday, May 18th. Finally, Raymond James Financial upgraded Devon Energy from an “outperform” rating to a “strong-buy” rating and set a $72.00 target price for the company in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.89.

Insider Activity

In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president owned 428,452 shares of the company’s stock, valued at $19,991,570.32. This trade represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Adam M. Vela sold 24,342 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. 4.58% of the stock is owned by company insiders.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Wells Fargo initiated/ reiterated a Buy rating on Devon Energy, adding to the recent stream of analyst support that can help offset near-term weakness. Wells Fargo Releases a Buy Rating on Devon Energy (DVN)
• Positive Sentiment: Roth MKM also rated Devon Energy Buy, reinforcing the view that analysts still see upside in the stock. Devon Energy (DVN) Gets a Buy from Roth MKM
• Neutral Sentiment: Devon Energy filed a prospectus supplement to register up to 175,000 shares tied to a Coterra merger conversion; this is a routine securities filing, though investors may be watching it for any dilution or transaction-related implications. Devon Energy Registers Shares Tied to Coterra Merger Conversion
• Neutral Sentiment: Several articles noted Devon has been drawing attention because of broader energy-sector valuation trends and Marcellus asset speculation, but these pieces do not point to a specific new catalyst. Why Is Devon Energy Corporation (NYSE:DVN) Drawing Attention Amid Marcellus Asset Speculation?
• Negative Sentiment: Coverage noting Devon Energy is still down since its last earnings report suggests investors remain focused on the company’s softer post-earnings performance and subdued follow-through. Why Is Devon Energy (DVN) Down 0.9% Since Last Earnings Report?

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.