Louisiana State Employees Retirement System Takes $1.59 Million Position in Devon Energy Corporation $DVN

Louisiana State Employees Retirement System acquired a new stake in shares of Devon Energy Corporation (NYSE:DVN) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 31,600 shares of the energy company’s stock, valued at approximately $1,590,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DVN. Pacer Advisors Inc. grew its position in Devon Energy by 2,108.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock worth $233,953,000 after purchasing an additional 6,097,658 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Devon Energy by 42,376.5% during the 4th quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock valued at $132,206,000 after purchasing an additional 3,600,731 shares during the period. Kimmeridge Energy Management Company LLC grew its stake in shares of Devon Energy by 56.5% during the 4th quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after purchasing an additional 3,195,862 shares during the period. AQR Capital Management LLC increased its position in shares of Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after purchasing an additional 2,802,137 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Devon Energy by 608.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,695,079 shares of the energy company’s stock worth $98,721,000 after purchasing an additional 2,314,843 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen raised their price objective on shares of Devon Energy from $46.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, March 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Devon Energy in a research report on Thursday, June 11th. Royal Bank Of Canada lifted their price target on shares of Devon Energy from $46.00 to $59.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 8th. Zacks Research downgraded shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Raymond James Financial reduced their price objective on Devon Energy from $72.00 to $66.00 and set a “strong-buy” rating for the company in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have issued 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 price target of $58.81.

Insider Activity at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the sale, the senior vice president directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the sale, the executive vice president owned 428,452 shares in the company, valued at approximately $19,991,570.32. The trade was a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 112,371 shares of company stock valued at $5,258,059. 4.58% of the stock is owned by company insiders.

Devon Energy News Summary

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

• Positive Sentiment: Several articles described Devon Energy as a potential value opportunity, with commentary calling DVN one of the most undervalued or best value stocks to buy right now.
• Positive Sentiment: Devon Energy is expected to report second-quarter 2026 earnings on August 4, which gives investors a clear near-term catalyst and may keep attention on the stock. Devon Energy Schedules Second-Quarter 2026 Earnings Release and Conference Call
• Neutral Sentiment: Zacks Research made a series of mixed earnings forecast changes, raising estimates for some quarters and full-year periods while cutting others, suggesting a less clear outlook rather than a strong fundamental shift.
• Neutral Sentiment: Devon completed private exchange offers tied to notes issued by its subsidiary, a financing move that appears more balance-sheet related than a direct operating catalyst.
• Negative Sentiment: Analysts at Zacks Research trimmed near-term Q2 2026 EPS estimates to $1.09 from $1.25, which can weigh on sentiment ahead of earnings. Devon Energy analyst estimate update
• Negative Sentiment: Goldman Sachs reduced its price target on Devon Energy to $53 from $54, and Morgan Stanley also lowered its target to $63 from $66, reflecting a slightly softer view on the stock’s near-term upside.
• Negative Sentiment: Recent reporting noted Devon Energy stock slipped while the broader market rose, reinforcing that investors are rotating away from the name for now.

Devon Energy Price Performance

NYSE DVN opened at $40.20 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 12 month low of $31.45 and a 12 month high of $52.71. The stock has a market cap of $24.98 billion, a price-to-earnings ratio of 11.20 and a beta of 0.38. The company’s 50 day moving average is $45.76 and its two-hundred day moving average is $43.61.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 earnings per share. As a group, research analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.32 per share. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, June 15th. Devon Energy’s dividend payout ratio (DPR) is 35.65%.

Devon Energy Company 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.