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

Stephens Inc. AR lessened its position in Devon Energy Corporation (NYSE:DVN) by 38.3% during the 1st quarter, HoldingsChannel.com reports. The fund 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 filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Devon Energy during the 4th quarter valued at approximately $25,000. Ameriflex Group Inc. lifted its holdings in shares of Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after buying an additional 702 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Devon Energy during the fourth quarter worth approximately $29,000. MV Capital Management Inc. bought a new stake in shares of Devon Energy in the fourth quarter valued at approximately $29,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Devon Energy in the fourth quarter worth $31,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy News Summary

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

Insiders Place Their Bets

In other Devon Energy news, SVP Adam M. Vela sold 24,342 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the transaction, the senior vice president owned 130,540 shares in the company, valued at $6,162,793.40. This trade represents a 15.72% 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 link. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction that occurred 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 sale, 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. Insiders sold a total of 112,371 shares of company stock worth $5,258,059 over the last quarter. Company insiders own 4.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DVN shares. Mizuho boosted their target price on shares of Devon Energy from $62.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Roth Capital restated a “buy” rating and issued a $57.00 price target on shares of Devon Energy in a research report on Tuesday, April 28th. Truist Financial dropped their price objective on shares of Devon Energy from $66.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley cut their price objective on shares of Devon Energy from $66.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Finally, TD Cowen increased their target price on shares of Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.56.

Devon Energy Trading Down 2.9%

Shares of Devon Energy stock opened at $42.05 on Friday. The firm has a market capitalization of $26.13 billion, a PE ratio of 11.71 and a beta of 0.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The company’s fifty day moving average price is $45.01 and its two-hundred day moving average price is $43.83. Devon Energy Corporation has a 52-week low of $31.45 and a 52-week high of $52.71.

Devon Energy (NYSE:DVN) last announced 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 business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.34 billion. Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The company’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 EPS. On average, analysts expect that Devon Energy Corporation will post 4.81 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.0%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, June 15th. Devon Energy’s dividend payout ratio (DPR) is currently 35.65%.

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.