Devon Energy Corporation $DVN Shares Sold by Pitcairn Co.

Pitcairn Co. cut its stake in Devon Energy Corporation (NYSE:DVN) by 59.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,990 shares of the energy company’s stock after selling 27,573 shares during the period. Pitcairn Co.’s holdings in Devon Energy were worth $666,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. PFS Partners LLC bought a new position in shares of Devon Energy during the third quarter worth about $25,000. First Horizon Corp bought a new stake in Devon Energy in the 3rd quarter valued at about $26,000. Caldwell Trust Co bought a new stake in Devon Energy in the 2nd quarter valued at about $25,000. Accredited Wealth Management LLC boosted its stake in Devon Energy by 61.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after purchasing an additional 308 shares during the period. Finally, ORG Partners LLC boosted its stake in Devon Energy by 65.7% during the 3rd quarter. ORG Partners LLC now owns 888 shares of the energy company’s stock valued at $31,000 after purchasing an additional 352 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy News Roundup

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

• Positive Sentiment: Planned all‑stock merger with Coterra would create one of the largest U.S. shale producers, promising multi‑basin scale and meaningful operating/cost synergies that support long‑term revenue and cash‑flow upside. Devon And Coterra Merger Reshapes Shale Outlook As Oil Prices Shift
• Positive Sentiment: Several brokers raised ratings/targets (UBS to $55 buy; Piper Sandler to $59 overweight), signaling analyst confidence in upside from cost cuts, multi‑basin assets and the merger. These upgrades tend to support higher share valuations. Benzinga Coverage
• Positive Sentiment: Devon has outperformed peers and the S&P over the past six months (roughly +29%), driven by operational improvements and merger expectations — momentum that attracts both value and momentum investors. DVN Outperforms Industry in the Past 6 Months: How to Play the Stock?
• Positive Sentiment: Recent bullish research pieces highlight near‑term tailwinds and argue the combined Devon/Coterra entity is undervalued vs. peers, reinforcing buy-side interest ahead of merger execution. Devon Energy: Q1 2026 Tailwinds And Merger Synergy Discussed – Reiterate Buy
• Neutral Sentiment: Coverage notes Devon’s stronger position in the NYSE Composite energy sector — a descriptive market‑weight update that underlines visibility but is not an immediate catalyst. Devon Energy (NYSE:DVN) Strengthens Position In NYSE Composite Energy Sector
• Neutral Sentiment: Sector commentary (If oil rises sharply) points to outsized upside for large E&P names like Devon, a macro tailwind that supports longer‑dated bullish cases but depends on oil price trajectory. Forget Tech Stocks. If Oil Goes to $100 These Energy Plays Are Unstoppable
• Negative Sentiment: Zacks reduced near‑term EPS forecasts (Q1/Q2) for Devon, introducing downside risk to short‑term expectations; earnings revisions like this can cap multiple expansion even as strategic positives remain. Devon Energy Q1 EPS Forecast Decreased by Zacks Research

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. BMO Capital Markets raised their price target on shares of Devon Energy from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Argus boosted their price objective on Devon Energy from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Roth Mkm reissued a “buy” rating and issued a $50.00 price objective on shares of Devon Energy in a report on Thursday, February 19th. UBS Group raised their target price on Devon Energy from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Scotiabank reduced their price target on Devon Energy from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Monday, February 23rd. Twenty-three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Devon Energy Trading Down 0.0%

Devon Energy stock opened at $44.51 on Friday. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $46.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. The stock has a market capitalization of $27.60 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 4.43 and a beta of 0.56. The firm has a 50 day simple moving average of $40.44 and a 200-day simple moving average of $36.88.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm 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%.The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 earnings per share. As a group, equities research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, March 13th. Devon Energy’s payout ratio is currently 23.02%.

About Devon Energy

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.