Grandfield & Dodd LLC Has $10.90 Million Stock Position in Devon Energy Corporation $DVN

Grandfield & Dodd LLC trimmed its position in Devon Energy Corporation (NYSE:DVN) by 7.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 297,578 shares of the energy company’s stock after selling 22,873 shares during the period. Grandfield & Dodd LLC’s holdings in Devon Energy were worth $10,900,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Accredited Wealth Management LLC increased its position in Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after purchasing an additional 308 shares during the period. Ameriflex Group Inc. boosted its holdings in Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after buying an additional 702 shares during the last quarter. Neo Ivy Capital Management bought a new position in Devon Energy during the third quarter worth about $31,000. Olistico Wealth LLC bought a new position in Devon Energy during the fourth quarter worth about $31,000. Finally, Elyxium Wealth LLC bought a new position in Devon Energy during the fourth quarter worth about $31,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: Reuters reported that Devon Energy has received a roughly $8 billion offer for its Marcellus shale assets from Stone Ridge Asset Management, a deal that could unlock significant value and give the company flexibility to reshape its portfolio.
• Positive Sentiment: Zacks Research raised its earnings estimates for Devon Energy across several periods, including FY2026 to $4.39 per share, FY2027 to $4.43, and FY2028 to $4.82, suggesting a stronger long-term earnings outlook.
• Positive Sentiment: Citi recently lifted its price target on Devon Energy to $65 from $60 while keeping a Buy rating, indicating at least some analysts still see upside from current levels. Article: Citi Raises its Price Target on Devon Energy (DVN)
• Neutral Sentiment: Zacks Research maintained a Hold rating despite the higher estimates, so the upgrade in earnings forecasts was not paired with a more bullish stock recommendation.
• Negative Sentiment: Devon was downgraded by Zacks Research from Strong Buy to Hold, which may have added to near-term caution around the shares.

Insider Activity

In other news, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the transaction, the senior vice president owned 130,540 shares in the company, valued at $6,162,793.40. The trade was a 15.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the transaction, the executive vice president owned 428,452 shares in the company, valued at $19,991,570.32. This trade represents a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company raised their target price on Devon Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Wall Street Zen cut Devon Energy from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Mizuho raised their target price on Devon Energy from $62.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday. Sanford C. Bernstein raised their target price on Devon Energy from $42.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Evercore assumed coverage on Devon Energy in a report on Friday, May 15th. They set an “in-line” rating and a $54.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

Devon Energy Trading Up 1.0%

NYSE:DVN opened at $44.54 on Friday. Devon Energy Corporation has a fifty-two week low of $30.24 and a fifty-two week high of $52.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The stock has a market capitalization of $27.68 billion, a PE ratio of 12.41 and a beta of 0.43. The business’s 50-day simple moving average is $47.96 and its 200-day simple moving average is $42.37.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the firm earned $0.82 EPS. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. Sell-side analysts expect that Devon Energy Corporation will post 4.24 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 issued a dividend of $0.32 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. Devon Energy’s dividend payout ratio (DPR) is presently 26.74%.

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.