Devon Energy Target of Unusually Large Options Trading (NYSE:DVN)

Devon Energy Corporation (NYSE:DVN) saw unusually large options trading on Wednesday. Traders bought 36,923 call options on the company. This is an increase of approximately 56% compared to the average volume of 23,690 call options.

Devon Energy News Summary

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

• Positive Sentiment: The companies announced a definitive all‑stock merger to form a ~$58 billion Delaware/Permian‑focused shale giant, a transformational deal that markets view as scale‑accretive and synergy‑driving. Coterra Energy and Devon Energy Seal $58 Billion Merger Deal
• Positive Sentiment: Analyst upgrades and big price‑target raises (notably Wolfe Research to $57 and Susquehanna to $47) are reinforcing bullish momentum and signaling investor confidence in the combined company’s cash generation. Wolfe Research Adjusts Price Target on Devon Energy to $57 From $49 Susquehanna Adjusts Devon Energy Price Target to $47
• Positive Sentiment: Coverage notes and analyst upgrades pushed DVN to a fresh 12‑month high after brokers reiterated/raised ratings, adding short‑term buying pressure. Devon Energy Reaches New 12‑Month High After Analyst Upgrade
• Positive Sentiment: Major shareholder Kimmeridge publicly backed the merger, which reduces perceived deal risk and supports the thesis that the combination can unlock value. KIMMERIDGE COMMENTS ON PROPOSED MERGER OF COTERRA AND DEVON
• Neutral Sentiment: Analyst/industry pieces frame the deal as a reshaping of the U.S. shale playbook; this supports a longer‑term consolidation narrative but doesn’t guarantee immediate operational upside. Devon, Coterra Merger Redraws the 2026 U.S. Shale Playbook
• Neutral Sentiment: Sector M&A activity and large Delaware Basin deals at peer companies are keeping investor attention on scale plays and may indirectly benefit DVN via higher valuation multiples for consolidation winners. Houston energy company lands massive Delaware Basin deal worth billions
• Negative Sentiment: A shareholder class‑action investigation into the merger was announced, introducing legal and disclosure risk that could delay closing or create costs. Investors should weigh this near‑term downside against deal benefits. Shareholder Alert: Investigation of Devon Energy Corporation

Hedge Funds Weigh In On Devon Energy

Hedge funds have recently added to or reduced their stakes in the stock. Woodline Partners LP increased its stake in shares of Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after acquiring an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Devon Energy during the second quarter valued at approximately $403,000. Ameritas Advisory Services LLC bought a new stake in Devon Energy in the second quarter valued at approximately $65,000. QRG Capital Management Inc. increased its stake in Devon Energy by 1.2% in the second quarter. QRG Capital Management Inc. now owns 144,382 shares of the energy company’s stock valued at $4,593,000 after purchasing an additional 1,756 shares in the last quarter. Finally, Capital Advisors Inc. OK raised its holdings in Devon Energy by 4.5% in the second quarter. Capital Advisors Inc. OK now owns 26,000 shares of the energy company’s stock worth $827,000 after purchasing an additional 1,114 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Zacks Research cut Devon Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Johnson Rice dropped their target price on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Siebert Williams Shank increased their price target on shares of Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Jefferies Financial Group boosted their price objective on shares of Devon Energy from $33.00 to $36.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Finally, Argus upgraded Devon Energy to a “strong-buy” rating in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $45.97.

Devon Energy Trading Up 5.4%

Shares of DVN traded up $2.24 on Wednesday, reaching $43.35. 10,398,189 shares of the company’s stock were exchanged, compared to its average volume of 11,271,453. The business has a 50 day moving average price of $37.18 and a two-hundred day moving average price of $35.15. Devon Energy has a 12 month low of $25.89 and a 12 month high of $43.68. The stock has a market capitalization of $27.19 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 3.66 and a beta of 0.61. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last released its 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. The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. During the same quarter in the previous year, the business earned $1.10 EPS. Research analysts anticipate that Devon Energy will post 4.85 earnings per share for the current year.

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.