Oppenheimer & Co. Inc. Sells 31,696 Shares of Devon Energy Corporation $DVN

Oppenheimer & Co. Inc. cut its stake in Devon Energy Corporation (NYSE:DVN) by 20.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,617 shares of the energy company’s stock after selling 31,696 shares during the period. Oppenheimer & Co. Inc.’s holdings in Devon Energy were worth $5,783,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DVN. BlackRock Inc. grew its holdings in shares of Devon Energy by 57.6% during the 2nd quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock worth $3,941,054,000 after purchasing an additional 34,871,366 shares in the last quarter. State Street Corp raised its stake in Devon Energy by 89.8% in the second quarter. State Street Corp now owns 73,179,266 shares of the energy company’s stock valued at $3,023,767,000 after purchasing an additional 34,615,088 shares in the last quarter. Wellington Management Group LLP raised its stake in Devon Energy by 418.3% in the second quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company’s stock valued at $2,128,905,000 after purchasing an additional 41,581,435 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Devon Energy by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,606,131 shares of the energy company’s stock valued at $483,475,000 after purchasing an additional 235,561 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Devon Energy during the second quarter worth about $421,226,000. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DVN shares. Mizuho reduced their price objective on shares of Devon Energy from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of Devon Energy from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, October 2nd. Argus reaffirmed a “buy” rating and set a $45.85 price target on shares of Devon Energy in a report on Monday, August 17th. Stifel Nicolaus initiated coverage on shares of Devon Energy in a report on Thursday, September 10th. They set a “buy” rating and a $61.00 price target for the company. Finally, Morgan Stanley increased their price target on shares of Devon Energy from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.72.

Devon Energy Price Performance

Devon Energy stock opened at $51.24 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. Devon Energy Corporation has a 52 week low of $31.65 and a 52 week high of $52.71. The stock has a market capitalization of $56.36 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49. The stock has a fifty day moving average of $48.79 and a 200-day moving average of $45.67.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. Devon Energy’s revenue for the quarter was up 73.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 EPS. On average, sell-side analysts expect that Devon Energy Corporation will post 5.49 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.5%. Devon Energy’s payout ratio is presently 30.40%.

Key Devon Energy News

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

• Positive Sentiment: Zacks raises earnings estimates across multiple periods. Zacks Research increased its FY2026 EPS forecast to $5.02 from $4.96, FY2027 to $4.54 from $4.29, and FY2028 to $5.09 from $4.76. It also raised estimates for several upcoming quarters, including Q4 2026 to $1.28, Q1 2027 to $1.45, Q2 2027 to $1.12, and Q3 2028 to $1.18. The revisions signal stronger expected profitability and may support investor sentiment. Zacks raises earnings outlook for Devon Energy
• Positive Sentiment: Higher oil and gas prices plus production growth are improving the outlook. A recent analysis argues that Devon is benefiting from favorable macroeconomic conditions, including stronger commodity pricing and increased production. If sustained, those factors could lift cash flow, earnings and shareholder returns. Devon Energy is winning the macro lottery with higher prices and production
• Positive Sentiment: Portfolio repositioning toward the Permian is attracting attention. Devon’s Eagle Ford transaction is described as part of a pivot toward the Permian Basin. Investors may view a greater focus on core, scalable assets as a potential way to improve operational efficiency and long-term production economics. Devon Energy pivots to the Permian with Eagle Ford deal
• Neutral Sentiment: The bullish outlook remains sensitive to oil and natural-gas prices, production execution and the financial results that ultimately validate the upgraded forecasts.

Insider Activity

In related news, CEO Clay Gaspar bought 3,913 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was purchased at an average price of $51.08 per share, with a total value of $199,876.04. Following the completion of the acquisition, the chief executive officer owned 619,152 shares of the company’s stock, valued at $31,626,284.16. The trade was a 0.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $50.95, for a total transaction of $344,218.20. Following the completion of the transaction, the executive vice president directly owned 72,720 shares of the company’s stock, valued at $3,705,084. This trade represents a 8.50% decrease in their position. The SEC filing for this sale provides additional information. 4.58% of the stock is currently owned by insiders.

Devon Energy Company Profile

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.