Devon Energy Corporation $DVN Stock Purchased by Oak Grove Capital LLC

Oak Grove Capital LLC increased its stake in Devon Energy Corporation (NYSE:DVN) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 605,990 shares of the energy company’s stock after acquiring an additional 33,300 shares during the quarter. Devon Energy comprises approximately 1.3% of Oak Grove Capital LLC’s investment portfolio, making the stock its 15th biggest position. Oak Grove Capital LLC’s holdings in Devon Energy were worth $27,900,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DVN. BlackRock Inc. grew its position in shares of Devon Energy by 57.6% in the second quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock valued at $3,941,054,000 after purchasing an additional 34,871,366 shares during the period. 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. Victory Capital Management Inc. boosted its holdings in Devon Energy by 17.5% in the 4th quarter. Victory Capital Management Inc. now owns 13,916,979 shares of the energy company’s stock worth $509,779,000 after buying an additional 2,071,021 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in Devon Energy in the 2nd quarter worth about $421,226,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Down 1.4%

DVN stock opened at $48.24 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $47.42 and a two-hundred day moving average of $46.35. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71. The company has a market cap of $53.07 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.31 and a beta of 0.49.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.17. The business had revenue of $7.42 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The business’s revenue for the quarter was up 73.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. As a group, analysts forecast that Devon Energy Corporation will post 5.35 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.7%. Devon Energy’s payout ratio is 30.40%.

Wall Street Analyst Weigh In

A number of brokerages have commented on DVN. Weiss Ratings raised Devon Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Seaport Research Partners assumed 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. The Goldman Sachs Group dropped their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Argus reissued a “buy” rating and issued a $45.85 price objective on shares of Devon Energy in a research note on Monday, August 17th. Finally, Wolfe Research set a $67.00 price objective on Devon Energy and gave the company an “outperform” rating in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $60.19.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Devon agreed to sell its Eagle Ford assets in South Texas to Crescent Energy for approximately $4.2 billion in cash. The sale covers about 90,000 net acres and production of roughly 68,000 barrels of oil equivalent per day. Management said the transaction sharpens Devon’s focus on higher-return, longer-duration assets and improves financial flexibility. Devon Energy Announces Agreement to Exit the Eagle Ford
• Positive Sentiment: Proceeds are expected to support shareholder buybacks and debt reduction, potentially strengthening Devon’s balance sheet and increasing per-share returns. The transaction is expected to close around year-end 2026. Devon Energy Eagle Ford Sale to Boost Buybacks and Reduce Debt
• Neutral Sentiment: Crescent said the acquisition would add about 68,000 boe/d and generate targeted annual synergies of $140 million, highlighting the strategic value of the assets but also underscoring that Devon is exiting a significant production base. Crescent Energy’s Devon Deal Strengthens Its Eagle Ford Dominance
• Negative Sentiment: Truist Financial reportedly cut its price target for DVN, although it maintained a Buy rating. A lower target may be limiting enthusiasm around the stock despite the favorable asset-sale narrative. Devon Energy Stock Price Target Cut by Truist Financial

Insider Buying and Selling at Devon Energy

In related news, CEO Clay Gaspar bought 3,913 shares of the company’s stock in a transaction on Monday, September 14th. The stock was bought at an average cost of $51.08 per share, for a total transaction of $199,876.04. Following the acquisition, the chief executive officer directly owned 619,152 shares in the company, valued at $31,626,284.16. This represents a 0.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $50.95, for a total value of $344,218.20. Following the completion of the sale, the executive vice president directly owned 72,720 shares of the company’s stock, valued at $3,705,084. This trade represents a 8.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.58% of the stock is owned by corporate insiders.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates in the United States and focuses on onshore properties with oil- and liquids-rich resources.

Devon’s operations are concentrated in several major U.S. producing regions, including the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.