Devon Energy Corporation $DVN Stock Holdings Trimmed by Equity Investment Corp

Equity Investment Corp trimmed its stake in shares of Devon Energy Corporation (NYSE:DVN) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,533,063 shares of the energy company’s stock after selling 53,407 shares during the period. Devon Energy accounts for 1.6% of Equity Investment Corp’s holdings, making the stock its 22nd biggest position. Equity Investment Corp owned about 0.23% of Devon Energy worth $116,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of Devon Energy by 57.6% during the second 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 position in shares of Devon Energy by 89.8% during the 2nd quarter. State Street Corp now owns 73,179,266 shares of the energy company’s stock worth $3,023,767,000 after purchasing an additional 34,615,088 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Devon Energy by 418.3% during the 2nd quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company’s stock worth $2,128,905,000 after purchasing an additional 41,581,435 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Devon Energy during the 2nd quarter worth about $421,226,000. Finally, GQG Partners LLC purchased a new position in Devon Energy in the 2nd quarter valued at about $402,558,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting 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

Analyst Ratings Changes

Several research firms recently issued reports on DVN. UBS Group lowered their price objective on Devon Energy from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday. BMO Capital Markets reissued an “outperform” rating and set a $67.00 target price on shares of Devon Energy in a report on Tuesday, October 6th. Seaport Research Partners started coverage on Devon Energy in a research note on Thursday, September 3rd. They issued a “buy” rating and a $65.00 price target on the stock. Mizuho lowered their price target on Devon Energy from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Finally, Truist Financial boosted their price target on Devon Energy from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.49.

Devon Energy Stock Performance

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

Devon Energy (NYSE:DVN) last issued its earnings results on Thursday, November 5th. The energy company reported $1.42 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same period last year, the company earned $1.04 EPS. The company’s revenue for the quarter was up 66.5% on a year-over-year basis. On average, research analysts anticipate that Devon Energy Corporation will post 5.50 earnings per share for the current year.

Devon Energy Announces Dividend

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 given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. Devon Energy’s payout ratio is presently 32.00%.

Insider Transactions at Devon Energy

In related news, EVP Robert Ferrall Lowe III sold 6,756 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $50.95, for a total transaction of $344,218.20. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Clay M. Gaspar bought 3,913 shares of Devon Energy stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of $51.08 per share, for a total transaction of $199,876.04. Following the completion of the purchase, the chief executive officer directly owned 619,152 shares of the company’s stock, valued at $31,626,284.16. This trade represents a 0.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 4.58% of the company’s stock.

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.