Devon Energy Corporation $DVN Shares Newly Bought by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC purchased a new position in Devon Energy Corporation (NYSE:DVN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,921 shares of the energy company’s stock, valued at approximately $871,000.

A number of other hedge funds have also made changes to their positions in DVN. BlackRock Inc. increased its stake in Devon Energy by 57.6% in the 2nd quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock valued at $3,941,054,000 after buying an additional 34,871,366 shares during the period. State Street Corp grew its holdings 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 valued at $3,023,767,000 after acquiring an additional 34,615,088 shares in the last quarter. Wellington Management Group LLP grew its holdings 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 valued at $2,128,905,000 after acquiring an additional 41,581,435 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Devon Energy in the second quarter worth $421,226,000. Finally, GQG Partners LLC acquired a new position in shares of Devon Energy in the second quarter worth $402,558,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DVN shares. Wells Fargo & Company dropped their target price on Devon Energy from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, September 28th. Seaport Research Partners began coverage on Devon Energy in a report on Thursday, September 3rd. They set a “buy” rating and a $65.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Devon Energy from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, October 2nd. Raymond James Financial boosted their price target on Devon Energy from $64.00 to $67.00 and gave the company a “strong-buy” rating in a research note on Monday, September 14th. Finally, Weiss Ratings upgraded Devon Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.61.

More Devon Energy News

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

Devon Energy Stock Performance

DVN opened at $42.22 on Monday. The company has a market cap of $46.45 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.10 and a beta of 0.43. The stock has a 50-day moving average of $48.64 and a 200-day moving average of $46.04. Devon Energy Corporation has a 52-week low of $32.49 and a 52-week high of $52.71. 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 (NYSE:DVN) last issued its quarterly earnings data on Thursday, November 5th. The energy company reported $1.42 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 business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the firm posted $1.04 EPS. The firm’s revenue for the quarter was up 66.5% on a year-over-year basis. As a group, equities research analysts forecast that Devon Energy Corporation will post 5.49 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, December 15th. Devon Energy’s dividend payout ratio is 32.00%.

Insider Transactions at Devon Energy

In other news, EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy stock in a transaction dated Monday, September 14th. The stock was 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. The trade was a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Clay M. Gaspar acquired 3,913 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was acquired at an average price 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 position. The disclosure for this purchase is available in the SEC filing. 4.58% of the stock is owned by corporate insiders.

About Devon Energy

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.