34,742 Shares in Devon Energy Corporation $DVN Purchased by Waycross Partners LLC

Waycross Partners LLC acquired a new position in shares of Devon Energy Corporation (NYSE:DVN) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 34,742 shares of the energy company’s stock, valued at approximately $1,600,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Morningstar Investment Management LLC lifted its holdings in shares of Devon Energy by 51.1% in the first quarter. Morningstar Investment Management LLC now owns 86,151 shares of the energy company’s stock valued at $4,335,000 after buying an additional 29,124 shares during the period. Artemis Investment Management LLP boosted its stake in Devon Energy by 103.8% during the third quarter. Artemis Investment Management LLP now owns 1,465,225 shares of the energy company’s stock valued at $67,459,000 after buying an additional 746,360 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Devon Energy during the second quarter valued at about $33,504,000. Illinois Municipal Retirement Fund grew its holdings in Devon Energy by 15.5% during the first quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock worth $9,801,000 after acquiring an additional 26,209 shares during the period. Finally, NewEdge Wealth LLC grew its holdings in Devon Energy by 20.0% during the first quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock worth $24,138,000 after acquiring an additional 80,000 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: Devon reported Q3 adjusted earnings of $1.42 per share, ahead of analyst expectations. Production benefited from the Coterra merger, and the company generated about $2 billion in free cash flow. Management also raised expected merger synergies and plans to accelerate share repurchases. Devon Energy Posts $2 Billion in Free Cash Flow as Buybacks Accelerate
• Positive Sentiment: Devon declared a quarterly dividend of $0.32 per share, payable December 30 to shareholders of record December 15. Devon Energy Reports Third-Quarter 2026 Results
• Neutral Sentiment: Unusually high call-option activity suggests some traders are positioning for potential gains, but options volume alone does not establish the direction of future shares.
• Neutral Sentiment: Barclays lowered its price target to $57 from $60 but kept an Overweight rating, leaving the analyst’s view positive while trimming its valuation outlook.
• Negative Sentiment: Despite the earnings beat and strong year-over-year growth, Q3 revenue missed some analyst estimates—an offset to the production and cash-flow positives. Devon Q3 Earnings Outpace Estimates on Higher Output, Revenues Miss
• Negative Sentiment: Activist investor TOMS Capital renewed calls for a strategic transaction, saying it was disappointed by Devon’s decision against an asset sale while expressing willingness to engage with interested acquirers. The pressure may add uncertainty around the company’s strategy and capital allocation. TCIM Issues Statement Regarding Devon Energy’s Strategic Review

Insider Activity

In other Devon Energy news, CEO Clay Gaspar acquired 3,913 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was purchased at an average cost of $51.08 per share, for a total transaction of $199,876.04. Following the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $50.95, for a total value of $344,218.20. Following the transaction, the executive vice president directly owned 72,720 shares in the company, valued at approximately $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 corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Argus reiterated a “buy” rating and issued a $45.85 price target on shares of Devon Energy in a research report on Monday, August 17th. Morgan Stanley boosted their target price on shares of Devon Energy from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Wall Street Zen raised shares of Devon Energy from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. BMO Capital Markets restated an “outperform” rating and set a $67.00 target price on shares of Devon Energy in a report on Tuesday, October 6th. Finally, Scotiabank started coverage on shares of Devon Energy in a research report on Wednesday, October 14th. They issued a “sector outperform” rating and a $61.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $60.61.

Devon Energy Trading Down 1.5%

Devon Energy stock traded down $0.66 during midday trading on Friday, reaching $42.22. The stock had a trading volume of 19,155,887 shares, compared to its average volume of 8,706,947. The firm’s fifty day simple moving average is $48.64 and its two-hundred day simple moving average is $46.04. Devon Energy Corporation has a twelve month low of $32.49 and a twelve month high of $52.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. The firm has a market cap of $46.45 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.27 and a beta of 0.43.

Devon Energy (NYSE:DVN) last announced its earnings results on Thursday, November 5th. The energy company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.09. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.57 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company’s revenue was up 66.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.04 EPS. Equities analysts anticipate that Devon Energy Corporation will post 5.49 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, December 15th. Devon Energy’s dividend payout ratio is currently 30.40%.

Devon Energy Company Profile

Devon Energy Corporation is an independent energy company focused on exploring for and producing oil, natural gas and natural gas liquids. Its activities include developing and operating producing properties and managing the infrastructure needed to bring its products to market.

Founded in 1971, Devon is headquartered in Oklahoma City. Its operations are concentrated in U.S. onshore basins, including the Delaware Basin, Eagle Ford, Anadarko, Williston and Powder River basins.

The company’s portfolio has evolved through acquisitions and asset sales over its history.