Sterling Capital Management LLC Lowers Position in Devon Energy Corporation $DVN

Sterling Capital Management LLC decreased its stake in shares of Devon Energy Corporation (NYSE:DVN) by 43.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,402 shares of the energy company’s stock after selling 15,976 shares during the quarter. Sterling Capital Management LLC’s holdings in Devon Energy were worth $1,027,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Devon Energy in the 4th quarter worth $25,000. Ameriflex Group Inc. boosted its holdings in shares of Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after purchasing an additional 702 shares during the last quarter. MV Capital Management Inc. purchased a new position in shares of Devon Energy during the fourth quarter valued at about $29,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Devon Energy in the fourth quarter worth about $29,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Devon Energy in the third quarter worth about $31,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on DVN shares. Weiss Ratings reissued a “hold (c)” rating on shares of Devon Energy in a research note on Thursday, June 11th. Morgan Stanley decreased their price objective on Devon Energy from $66.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Tudor Pickering upgraded Devon Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Jefferies Financial Group raised their target price on shares of Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, TD Cowen raised their target price on shares of Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.81.

Insider Activity at Devon Energy

In related news, EVP Jeffrey L. Ritenour sold 70,029 shares of the firm’s stock in a transaction on 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 directly owned 428,452 shares in the company, valued at $19,991,570.32. This trade represents 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 through this hyperlink. Also, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction on Wednesday, June 10th. The stock was 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 of the company’s stock, valued at $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 112,371 shares of company stock worth $5,258,059. Company insiders own 4.58% of the company’s stock.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: Zacks Research raised several near- and longer-term earnings estimates for Devon Energy, including Q3 2026, Q4 2026, Q1 2027, FY2026, and FY2027, which suggests improving profit expectations. Article Title
• Positive Sentiment: Goldman Sachs kept a Buy rating on DVN despite trimming its price target slightly to $53 from $54, implying continued upside from current levels. Article Title
• Neutral Sentiment: Devon Energy shareholders reinforced board and governance stability at the company’s 2026 annual meeting, a development that is supportive of continuity but not a major operating catalyst. Article Title
• Neutral Sentiment: Zacks noted that Devon Energy’s stock was moving lower even as the broader market rose, but the report did not identify a company-specific operational setback beyond the recent trading weakness. Article Title
• Negative Sentiment: Goldman Sachs did cut its price target, which may have added some mild downside pressure even though the firm stayed constructive on the stock. Article Title

Devon Energy Trading Down 1.6%

DVN opened at $41.32 on Wednesday. The stock has a 50-day moving average of $45.86 and a 200 day moving average of $43.59. 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 Corporation has a 12 month low of $31.45 and a 12 month high of $52.71. The firm has a market cap of $25.68 billion, a P/E ratio of 11.51 and a beta of 0.37.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. As a group, research analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 3.1%. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio is presently 35.65%.

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.