Devon Energy Corporation $DVN Holdings Trimmed by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its position in shares of Devon Energy Corporation (NYSE:DVN) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 483,395 shares of the energy company’s stock after selling 44,725 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Devon Energy were worth $22,256,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DVN. Premier Financial Group acquired a new stake in shares of Devon Energy in the second quarter worth $25,000. Financial Management Professionals Inc. raised its position in Devon Energy by 119.0% during the third quarter. Financial Management Professionals Inc. now owns 576 shares of the energy company’s stock valued at $27,000 after buying an additional 313 shares during the period. JFS Wealth Advisors LLC raised its position in Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after buying an additional 245 shares during the period. Parvin Asset Management LLC purchased a new stake in Devon Energy in the 2nd quarter worth about $28,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in Devon Energy in the 2nd quarter worth about $29,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Devon’s Q3 earnings-call highlights included record oil and total production, strong free cash flow, accelerated share repurchases, and a disciplined 2027 spending plan. Management also outlined Permian expansion and higher merger synergies, with a target of 5%–10% annual free-cash-flow-per-share growth. Article: Devon Energy Q3 2026 Earnings Call Highlights
• Positive Sentiment: Analyst sentiment remains broadly constructive: JPMorgan raised its target to $68 and Truist to $62, both retaining positive ratings. UBS also maintained a Buy rating despite trimming its target to $62. Article: JPMorgan raises Devon price target
• Neutral Sentiment: After losing 13.4% over four weeks, DVN is described as technically oversold. The article argues that selling pressure may be easing, with upward earnings-estimate revisions offering a possible catalyst for a reversal, though this is not a guarantee. Article: Devon Energy and a potential trend reversal
• Negative Sentiment: Some firms trimmed their targets, including UBS ($65 to $62), Morgan Stanley ($65 to $64), and Susquehanna ($63 to $60). Their ratings remain Buy, Overweight, or Positive, but the reductions temper the otherwise optimistic analyst outlook. Article: UBS price-target update

Insider Activity

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

Analyst Ratings Changes

DVN has been the subject of a number of research reports. Morgan Stanley decreased their price objective on Devon Energy from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday. Susquehanna dropped their target price on Devon Energy from $63.00 to $60.00 and set a “positive” rating on the stock in a report on Monday. BMO Capital Markets reissued an “outperform” rating and issued a $67.00 price target on shares of Devon Energy in a research report on Tuesday, October 6th. Seaport Research Partners began coverage on shares of Devon Energy in a report on Thursday, September 3rd. They set a “buy” rating and a $65.00 price target for the company. Finally, Wall Street Zen upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus target price of $60.49.

Devon Energy Trading Up 2.3%

NYSE DVN opened at $43.39 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. Devon Energy Corporation has a 1-year low of $34.11 and a 1-year high of $52.71. The firm’s fifty day simple moving average is $48.44 and its 200-day simple moving average is $46.09. The company has a market capitalization of $49.45 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.10 and a beta of 0.43.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Thursday, November 5th. The energy company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. Devon Energy had a return on equity of 14.86% and a net margin of 16.22%. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The business’s revenue for the quarter was up 66.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Devon Energy Corporation will post 5.50 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. Devon Energy’s dividend payout ratio (DPR) is 32.00%.

Devon Energy 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.