Pacer Advisors Inc. Boosts Holdings in Devon Energy Corporation $DVN

Pacer Advisors Inc. boosted its position in shares of Devon Energy Corporation (NYSE:DVN) by 2,108.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,386,921 shares of the energy company’s stock after purchasing an additional 6,097,658 shares during the period. Pacer Advisors Inc.’s holdings in Devon Energy were worth $233,953,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DVN. TD Private Client Wealth LLC lifted its position in shares of Devon Energy by 3.4% during the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after purchasing an additional 236 shares during the last quarter. Catalyst Financial Partners LLC increased its stake in Devon Energy by 3.9% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock worth $246,000 after buying an additional 254 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in Devon Energy by 21.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock valued at $54,000 after buying an additional 257 shares in the last quarter. Zions Bancorporation National Association UT boosted its position in Devon Energy by 7.9% in the 4th quarter. Zions Bancorporation National Association UT now owns 3,527 shares of the energy company’s stock valued at $129,000 after buying an additional 258 shares during the period. Finally, Michels Family Financial LLC grew its stake in Devon Energy by 2.5% in the 4th quarter. Michels Family Financial LLC now owns 11,098 shares of the energy company’s stock worth $407,000 after acquiring an additional 270 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DVN shares. Susquehanna increased their price objective on Devon Energy from $52.00 to $57.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. Truist Financial increased their price target on Devon Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Evercore raised shares of Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 price target for the company in a research report on Wednesday, June 10th. Capital One Financial cut their price objective on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating on the stock in a report on Tuesday, June 2nd. Finally, Piper Sandler upped their target price on Devon Energy from $59.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.44.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Several recent articles highlight Devon’s diversified multi-basin shale portfolio, disciplined capital allocation, and resilient cash flow, which could support long-term production growth and continued shareholder returns through dividends and buybacks. Can Devon’s Multi-Basin Assets Sustain Growth for Years to Come?
• Positive Sentiment: Devon’s newly outlined 2026 production roadmap after the Coterra merger emphasizes high-return assets, especially the Permian Basin, while reaffirming its focus on shareholder returns. Devon’s Multi-Basin Assets Sustain Growth for Years to Come?
• Neutral Sentiment: Devon said CEO Clay Gaspar will participate in a J.P. Morgan energy conference next week, which could provide additional commentary but is not a material event by itself. Devon Energy CEO Clay Gaspar to Participate in a Fireside Chat at the J.P. Morgan Energy, Power, Renewables & Mining Conference
• Neutral Sentiment: Market commentary continues to discuss Devon’s valuation and sensitivity to oil prices, but these pieces are largely analytical rather than company-specific catalysts. Devon Energy: Lower Oil, Higher Earnings, Shares Near Key Support
• Negative Sentiment: TOMS Capital has reportedly built a major stake in Devon Energy (DVN) and is pushing for faster asset sales or even a sale of the company, adding uncertainty around strategy and future corporate actions. Activist TOMS Capital pushes US shale producer Devon to quicken asset sales or sell itself, sources say
• Negative Sentiment: Another report said Devon is facing increased activist pressure after its merger with Coterra, which may be contributing to the stock’s weakness as investors assess potential disruption. Devon Energy Under Pressure as Activist Investor Toms Capital Builds Major Stake

Devon Energy Price Performance

Shares of DVN stock opened at $42.21 on Friday. The firm has a market capitalization of $26.23 billion, a price-to-earnings ratio of 11.76 and a beta of 0.37. Devon Energy Corporation has a fifty-two week low of $31.45 and a fifty-two week high of $52.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. The stock’s 50-day simple moving average is $46.49 and its 200-day simple moving average is $43.32.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the company posted $0.82 EPS. The company’s revenue for the quarter was down 14.5% compared to the same quarter last year. As a group, equities analysts forecast that Devon Energy Corporation will post 4.97 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.32 dividend. The ex-dividend date is Monday, June 15th. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. Devon Energy’s dividend payout ratio (DPR) is currently 35.65%.

Insiders Place Their Bets

In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the completion of the transaction, the executive vice president owned 428,452 shares in the company, valued at approximately $19,991,570.32. This trade represents a 14.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Adam M. Vela sold 24,342 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the sale, the senior vice president owned 130,540 shares in the company, valued at approximately $6,162,793.40. This represents a 15.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 112,371 shares of company stock valued at $5,258,059. Company insiders own 4.58% of the company’s stock.

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.