19,302 Shares in Devon Energy Corporation $DVN Acquired by Econ Financial Services Corp

Econ Financial Services Corp bought a new stake in Devon Energy Corporation (NYSE:DVN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,302 shares of the energy company’s stock, valued at approximately $707,000.

Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Devon Energy by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 11,845,958 shares of the energy company’s stock worth $415,319,000 after buying an additional 560,652 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Devon Energy by 6.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,353,062 shares of the energy company’s stock worth $327,938,000 after acquiring an additional 552,068 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Devon Energy by 29.3% during the 3rd quarter. AQR Capital Management LLC now owns 8,223,219 shares of the energy company’s stock worth $288,306,000 after acquiring an additional 1,862,720 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Devon Energy by 5.5% in the third quarter. Thrivent Financial for Lutherans now owns 4,712,190 shares of the energy company’s stock worth $165,210,000 after acquiring an additional 246,179 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Devon Energy by 83.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock worth $145,311,000 after acquiring an additional 2,083,600 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $50.27 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. The stock has a market cap of $31.17 billion, a PE ratio of 12.05, a PEG ratio of 0.96 and a beta of 0.56. The company’s fifty day moving average is $44.48 and its 200 day moving average is $38.45. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $52.71.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same period in the prior year, the business posted $1.10 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. Research analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, March 13th. This represents a $0.96 annualized dividend and a yield of 1.9%. Devon Energy’s dividend payout ratio is currently 23.02%.

Devon Energy News Summary

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

• Positive Sentiment: Citigroup raised its price target to $60 and assigned a “buy” rating, signaling meaningful upside from current levels and providing a clear catalyst for buyers. Citigroup Raises Price Target to $60 (Benzinga)
• Positive Sentiment: American Banking News reports a separate price-target raise to $59, reinforcing the view that analysts see continued upside and supporting medium-term bullish sentiment. Price Target Raised to $59 (AmericanBankingNews)
• Positive Sentiment: Recent pieces from Zacks and MSN highlight DVN as a top momentum and value stock—coverage that can attract retail and momentum-focused flows if fundamentals remain supportive. Why Devon Energy is a Top Momentum Stock (MSN)
• Neutral Sentiment: Zacks published several analytical posts (momentum/value/attention screens) that increase visibility but do not constitute fundamental changes; useful for investor interest but not immediate drivers of cash flow. Zacks Momentum Article
• Neutral Sentiment: CNN’s company page provides standard market data and coverage; useful for context but not a direct catalyst. Devon Energy Corporation (CNN Markets)
• Negative Sentiment: Market reports (Yahoo/Zacks recaps) note a recent larger-than-market pullback in DVN shares, which can trigger stop-losses and short-term selling pressure even as analysts upgrade targets. DVN Suffers Larger Drop Than Market (Yahoo)

Wall Street Analyst Weigh In

DVN has been the topic of a number of research reports. Benchmark restated a “buy” rating on shares of Devon Energy in a research report on Friday, January 16th. Wells Fargo & Company upped their price objective on Devon Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Scotiabank upgraded Devon Energy to a “hold” rating in a research report on Friday, March 27th. Barclays raised their price objective on Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Finally, Johnson Rice dropped their target price on Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.89.

Devon Energy 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.