Segall Bryant & Hamill LLC Takes $711,000 Position in Devon Energy Corporation $DVN

Segall Bryant & Hamill LLC purchased a new position in shares of Devon Energy Corporation (NYSE:DVN) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,139 shares of the energy company’s stock, valued at approximately $711,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tobam raised its position in Devon Energy by 16.4% during the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock worth $60,000 after buying an additional 230 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Devon Energy by 3.4% in the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock valued at $262,000 after acquiring an additional 236 shares in the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of Devon Energy by 3.9% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after acquiring an additional 254 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Devon Energy by 21.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock worth $54,000 after acquiring an additional 257 shares during the period. Finally, Zions Bancorporation National Association UT increased its stake in shares of Devon Energy by 7.9% during the fourth quarter. Zions Bancorporation National Association UT now owns 3,527 shares of the energy company’s stock worth $129,000 after acquiring an additional 258 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on DVN. UBS Group lowered their price objective on Devon Energy from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Argus increased their target price on Devon Energy from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Wall Street Zen cut Devon Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Tudor Pickering upgraded Devon Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Finally, The Goldman Sachs Group dropped their price objective on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Two 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 company’s stock. According to data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $59.56.

Key Headlines Impacting Devon Energy

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

• Positive Sentiment: Quarterly results significantly exceeded expectations. Devon reported adjusted earnings of $1.57 per share versus the $1.40 consensus estimate, while revenue reached $7.42 billion, well above the $6.01 billion expectation. Revenue increased 73.1% year over year, helped by the Coterra merger, stronger oil prices and higher production. Devon Q2 Earnings Surpass Estimates on Strong Oil Output and Pricing
• Positive Sentiment: Production and cash generation were strong. Oil output averaged 503,000 barrels per day, at the high end of guidance, while total production averaged 1.359 million barrels of oil equivalent per day. Operating cash flow was $3.7 billion and adjusted free cash flow was approximately $1.7 billion. Devon posts highest quarterly profit since 2022 on stronger oil prices, Coterra deal
• Positive Sentiment: Shareholder returns and the balance sheet remain priorities. Devon returned about $1.06 billion through dividends, repurchases and debt retirement, bought back 4.3 million shares for approximately $197 million, and raised its fixed quarterly dividend 33% to $0.32 per share, implying a yield of roughly 3%. Analysts have also highlighted the company’s buyback, debt-reduction plans and 2026 growth outlook. Devon Energy: Focusing On Long-Term Value Creation Via Buybacks And Debt Reduction
• Positive Sentiment: Management’s near-term outlook was constructive. Devon expects third-quarter production of 1.66 million to 1.69 million barrels of oil equivalent per day. Capital spending was also about 2% below the guidance midpoint in the second quarter. Devon Energy Reports Second-Quarter 2026 Results
• Neutral Sentiment: The Coterra Energy merger materially expanded Devon’s earnings, production and revenue base, but investors may continue evaluating integration execution and whether the enlarged company can sustain these results as commodity prices fluctuate. Devon also agreed to acquire 16,300 net Delaware Basin acres for $2.6 billion, adding future resource potential but increasing capital commitments.
• Negative Sentiment: The market’s weaker reaction despite the earnings beat indicates that expectations may already reflect the merger benefits and strong oil prices. Any subsequent decline in commodity prices, production growth or free cash flow could limit further upside.

Insiders Place Their Bets

In other news, EVP Jeffrey L. Ritenour sold 70,029 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the transaction, the senior vice president directly owned 138,529 shares in the company, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 112,371 shares of company stock valued at $5,258,059 in the last ninety days. Insiders own 4.58% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $42.09 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $43.52 and a two-hundred day moving average price of $44.83. Devon Energy Corporation has a twelve month low of $31.47 and a twelve month high of $52.71. The company has a market capitalization of $26.16 billion, a P/E ratio of 10.00 and a beta of 0.38.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a return on equity of 21.29% and a net margin of 16.67%.The firm had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. During the same quarter in the prior year, the company earned $0.84 EPS. Devon Energy’s revenue was up 73.1% on a year-over-year basis. As a group, research analysts expect that Devon Energy Corporation will post 4.64 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 3.0%. Devon Energy’s payout ratio is presently 35.65%.

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.