35,000 Shares in Devon Energy Corporation $DVN Purchased by Bright Rock Capital Management LLC

Bright Rock Capital Management LLC acquired a new position in shares of Devon Energy Corporation (NYSE:DVN) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 35,000 shares of the energy company’s stock, valued at approximately $1,446,000.

Several other institutional investors and hedge funds also recently bought and sold shares of DVN. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Devon Energy by 55.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,562 shares of the energy company’s stock valued at $65,000 after purchasing an additional 560 shares during the period. Quantum Financial Advisors LLC acquired a new stake in shares of Devon Energy during the second quarter worth approximately $277,000. Chesley Taft & Associates LLC purchased a new position in Devon Energy during the second quarter valued at approximately $295,000. Kwmg LLC grew its position in Devon Energy by 96.6% during the second quarter. Kwmg LLC now owns 336,207 shares of the energy company’s stock valued at $13,892,000 after purchasing an additional 165,201 shares in the last quarter. Finally, Czech National Bank increased its stake in Devon Energy by 94.3% in the 2nd quarter. Czech National Bank now owns 328,174 shares of the energy company’s stock valued at $13,560,000 after buying an additional 159,248 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the sale, the executive vice president owned 428,452 shares of the company’s stock, valued at $19,991,570.32. The trade was a 14.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 112,371 shares of company stock worth $5,258,059 over the last three months. Corporate insiders own 4.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Devon Energy from $54.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Susquehanna upped their price target on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Wolfe Research set a $67.00 price objective on Devon Energy and gave the stock an “outperform” rating in a report on Monday, June 22nd. JPMorgan Chase & Co. reduced their price objective on Devon Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Finally, Tudor Pickering upgraded Devon Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.72.

Devon Energy Stock Performance

Shares of DVN opened at $42.94 on Friday. The company’s fifty day moving average is $43.46 and its 200-day moving average is $44.87. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71. The firm has a market cap of $26.68 billion, a price-to-earnings ratio of 10.20 and a beta of 0.38. The company has a quick ratio of 0.94, a current ratio of 0.72 and a debt-to-equity ratio of 0.24.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter last year, the firm earned $0.84 EPS. Devon Energy’s revenue for the quarter was up 73.1% on a year-over-year basis. Equities analysts expect that Devon Energy Corporation will post 4.72 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is 30.40%.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Strong Q2 performance: Devon exceeded expectations for the quarter ended June 2026, reporting $1.57 in earnings per share versus the $1.40 consensus estimate and revenue of $7.42 billion versus $6.01 billion expected. Production and costs also outperformed guidance. Devon Energy Q2 2026 Earnings Call Highlights
• Positive Sentiment: Cash flow and synergies support shareholder returns: Analysts highlighted approximately $1.66 billion of adjusted free cash flow, progress toward more than $1 billion in merger synergies and a disciplined approach to capital allocation. The company is also reviewing assets that could potentially generate more than $12 billion for debt reduction, reinvestment or shareholder returns. DVN Q2 Earnings Call Takeaways
• Positive Sentiment: Analyst support strengthened: Truist raised its price target from $61 to $65 and maintained a Buy rating. Evercore ISI and Siebert Williams Shank also reaffirmed Buy ratings, signaling continued confidence in Devon’s post-merger outlook. Truist price target update
• Positive Sentiment: Commentary remains favorable on Devon’s expanded Permian acreage, potential asset-sale proceeds and the market’s possible underestimation of the combined company’s operating synergies. The Market Still Underestimates the New Devon
• Neutral Sentiment: Better-than-expected results from Occidental and Murphy Oil reinforce a supportive energy-sector backdrop, although their results do not directly change Devon’s fundamentals. Occidental Q2 Earnings
• Negative Sentiment: The bullish thesis depends on successfully integrating Coterra, capturing planned synergies and completing asset sales at attractive prices. Any delays, weaker oil and gas prices or disappointing proceeds could limit the expected upside and help explain why the stock has decreased despite favorable coverage.

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.