Manning & Napier Advisors LLC Has $1.12 Million Stock Position in Devon Energy Corporation $DVN

Manning & Napier Advisors LLC lowered its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 46.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 32,055 shares of the energy company’s stock after selling 27,299 shares during the period. Manning & Napier Advisors LLC’s holdings in Devon Energy were worth $1,124,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DVN. Yousif Capital Management LLC increased its holdings in Devon Energy by 0.4% in the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after purchasing an additional 321 shares during the period. MAS Advisors LLC grew its position in shares of Devon Energy by 4.3% in the 2nd quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock valued at $253,000 after buying an additional 327 shares during the last quarter. ORG Partners LLC increased its stake in shares of Devon Energy by 65.7% in the third quarter. ORG Partners LLC now owns 888 shares of the energy company’s stock valued at $31,000 after buying an additional 352 shares during the period. MAI Capital Management raised its position in shares of Devon Energy by 2.3% during the second quarter. MAI Capital Management now owns 17,647 shares of the energy company’s stock worth $561,000 after acquiring an additional 395 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its stake in shares of Devon Energy by 1.6% in the second quarter. IHT Wealth Management LLC now owns 24,904 shares of the energy company’s stock worth $792,000 after acquiring an additional 399 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of recent analyst reports. Argus raised shares of Devon Energy to a “strong-buy” rating in a research report on Wednesday, November 26th. Raymond James Financial upped their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. The Goldman Sachs Group increased their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Sanford C. Bernstein dropped their target price on shares of Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Finally, Capital One Financial cut their price target on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.21.

Devon Energy News Summary

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

• Positive Sentiment: Unusual call-option activity points to investor expectations of a dividend increase or other shareholder-friendly action ahead of Q4 results (earnings set for Feb. 17), which could support the share price if management follows through. Devon Energy Unusual Call Option Activity – Barchart
• Neutral Sentiment: Analysts remain constructive overall (outperform/overweight stances still in place) even after price-target reductions, implying continued upside in analyst models but less near-term enthusiasm. BMO Capital Markets cuts PT to $45 – MarketScreener
• Neutral Sentiment: JPMorgan trimmed its price target but kept an overweight rating, signaling confidence in medium-term fundamentals despite lower near-term estimates. JPMorgan adjusts PT to $41 – MarketScreener
• Negative Sentiment: Reports that Devon and Coterra are in merger discussions pressured Devon shares as investors parsed potential deal terms and dilution/valuation implications; Coterra shares rallied on the news, suggesting market preference for the counterparty in initial headlines. Exclusive: Devon and Coterra in merger talks – Reuters
• Negative Sentiment: Multiple outlets amplified the takeover chatter (Bloomberg/MSN/Financial Post), increasing short-term volatility and prompting profit-taking as investors reassess Devon’s standalone outlook versus a combined company scenario. Coterra considers combining with Devon – Financial Post

Devon Energy Stock Performance

NYSE:DVN opened at $36.36 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $38.88. The company has a fifty day moving average of $36.29 and a 200-day moving average of $34.63. The firm has a market capitalization of $22.81 billion, a P/E ratio of 8.56, a P/E/G ratio of 3.21 and a beta of 0.60.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. The business had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the company posted $1.10 earnings per share. As a group, sell-side analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, December 15th. Devon Energy’s dividend payout ratio is 22.59%.

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.