Russell Investments Group Ltd. Decreases Stake in Devon Energy Corporation $DVN

Russell Investments Group Ltd. cut its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 25.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 853,207 shares of the energy company’s stock after selling 295,114 shares during the quarter. Russell Investments Group Ltd.’s holdings in Devon Energy were worth $29,918,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. Woodline Partners LP raised its position in shares of Devon Energy by 98.8% in the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after purchasing an additional 57,555 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Devon Energy during the 2nd quarter valued at approximately $403,000. AE Wealth Management LLC boosted its holdings in Devon Energy by 4.4% in the 2nd quarter. AE Wealth Management LLC now owns 15,564 shares of the energy company’s stock worth $495,000 after buying an additional 660 shares during the period. Prospera Financial Services Inc boosted its holdings in Devon Energy by 44.9% in the 2nd quarter. Prospera Financial Services Inc now owns 34,163 shares of the energy company’s stock worth $1,087,000 after buying an additional 10,592 shares during the period. Finally, Midwest Trust Co purchased a new position in Devon Energy in the 2nd quarter valued at approximately $236,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 1.8%

Shares of DVN stock opened at $46.17 on Friday. The business has a 50-day moving average price of $41.12 and a two-hundred day moving average price of $37.16. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $46.41. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. The firm has a market cap of $28.63 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 4.59 and a beta of 0.56.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $17.19 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.Devon Energy’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.10 EPS. Equities analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Devon Energy’s dividend payout ratio (DPR) is 23.02%.

Key Devon Energy News

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

• Positive Sentiment: Piper Sandler raised its price target to $67 and kept an Overweight rating—implies ~45% upside from current levels. Piper Sandler raise
• Positive Sentiment: Wolfe Research boosted its price target to $64, another analyst upgrade adding weight to buy-side interest. Wolfe Research boost
• Positive Sentiment: Jefferies reiterated/expressed expectation that DVN shares should rise, supporting analyst-driven demand. Jefferies commentary
• Positive Sentiment: Unusual options flow: about 99,358 call contracts traded (≈311% above average), signaling large speculative or hedged bullish bets that can amplify intraday upside.
• Positive Sentiment: Geopolitical tensions in the Middle East have pushed oil and gas prices higher, directly boosting Devon’s realized pricing outlook as an oil & gas producer. Middle East tensions lift oil
• Positive Sentiment: Jim Cramer flagged a potential natural-gas shortage and said Devon is well positioned—media attention can drive retail interest. Cramer on Devon
• Neutral Sentiment: Coverage note: Devon has recently underperformed some energy peers even as analysts remain optimistic—this keeps upside potential but signals relative weakness to monitor. Barchart analysis
• Negative Sentiment: Counterpoint: a Motley Fool piece warns U.S. supply could limit how much Devon benefits from crude rallies, capping potential gains if prices retreat. Fool analysis

Wall Street Analysts Forecast Growth

DVN has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Susquehanna lifted their price target on Devon Energy from $47.00 to $52.00 and gave the company a “positive” rating in a research report on Friday, February 20th. Citigroup boosted their price objective on Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Wells Fargo & Company increased their price objective on Devon Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Finally, Siebert Williams Shank lifted their target price on Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, January 26th. Twenty-three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.85.

Devon Energy Profile

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.