TD Asset Management Inc Purchases 18,108 Shares of Devon Energy Corporation $DVN

TD Asset Management Inc increased its position in shares of Devon Energy Corporation (NYSE:DVN) by 7.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 258,152 shares of the energy company’s stock after purchasing an additional 18,108 shares during the period. TD Asset Management Inc’s holdings in Devon Energy were worth $9,456,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its position in shares of Devon Energy by 3.4% in the 4th 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 during the period. Catalyst Financial Partners LLC raised its holdings in shares of Devon Energy by 3.9% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after purchasing an additional 254 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in Devon Energy by 21.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock valued at $54,000 after purchasing an additional 257 shares during the last quarter. Murphy Pohlad Asset Management LLC lifted its stake in Devon Energy by 0.3% in the 4th quarter. Murphy Pohlad Asset Management LLC now owns 113,537 shares of the energy company’s stock valued at $4,159,000 after purchasing an additional 295 shares during the last quarter. Finally, Aprio Wealth Management LLC grew its holdings in Devon Energy by 4.1% during the third quarter. Aprio Wealth Management LLC now owns 7,521 shares of the energy company’s stock worth $264,000 after purchasing an additional 297 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $44.00 on Wednesday. The stock has a 50 day simple moving average of $47.32 and a 200 day simple moving average of $42.93. The stock has a market cap of $27.34 billion, a P/E ratio of 12.26 and a beta of 0.37. Devon Energy Corporation has a 1-year low of $31.45 and a 1-year high of $52.71. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) 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 firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the company earned $0.82 EPS. The business’s quarterly revenue was down 14.5% compared to the same quarter last year. Research analysts anticipate that Devon Energy Corporation will post 4.41 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.9%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, June 15th. Devon Energy’s payout ratio is 26.74%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DVN shares. Wells Fargo & Company upped their price objective on Devon Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Barclays lifted their target price on Devon Energy from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. BMO Capital Markets increased their price target on Devon Energy from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. UBS Group cut their price target on Devon Energy from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Mizuho lifted their price objective on shares of Devon Energy from $62.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $58.67.

More Devon Energy News

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

• Positive Sentiment: J.P. Morgan initiated/updated coverage on Devon Energy with an Overweight rating and a $62 price target, signaling meaningful upside from current levels and reinforcing bullish sentiment on the stock. JPMorgan coverage update
• Positive Sentiment: Barclays also reiterated a Buy view, adding to a cluster of favorable analyst calls that support the stock’s valuation. Barclays buy rating
• Positive Sentiment: Devon Energy released an updated 2026 outlook after completing its merger with Coterra, projecting 1.38 million boe/d of production, about $4.9 billion in capital spending, and plans to return up to 70% of free cash flow to shareholders through dividends and buybacks. Updated 2026 outlook
• Positive Sentiment: The company said it expects roughly $600 million in synergies by 2027 and is targeting $1.0 billion in annual pretax synergy run-rate by year-end 2027, which could improve margins and cash generation. Reuters merger forecast
• Neutral Sentiment: Devon also extended deadlines and reported strong early participation in its private exchange offers for Coterra notes, a mostly technical balance-sheet transaction that should help simplify the post-merger capital structure, but is less likely to drive the stock by itself. Exchange offer results
• Neutral Sentiment: The new guidance emphasizes an investment-grade balance sheet and planned debt reduction, which is supportive but largely consistent with management’s long-term capital-return strategy. GlobeNewswire outlook
• Negative Sentiment: Despite the upbeat strategic updates, DVN has been under pressure recently, likely reflecting caution around integration risk, capital spending needs, and oil and gas price volatility after the merger.

Insider Activity at Devon Energy

In related news, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction 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 sale, the executive vice president owned 428,452 shares of the company’s stock, valued at approximately $19,991,570.32. This trade represents a 14.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the sale, the senior vice president directly owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. The trade was a 15.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.58% of the company’s stock.

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.