GAMMA Investing LLC Purchases 26,026 Shares of Devon Energy Corporation $DVN

GAMMA Investing LLC grew its position in Devon Energy Corporation (NYSE:DVN) by 78.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,105 shares of the energy company’s stock after buying an additional 26,026 shares during the period. GAMMA Investing LLC’s holdings in Devon Energy were worth $2,442,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Devon Energy during the 4th quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Devon Energy during the second quarter worth $29,000. SouthState Bank Corp raised its holdings in shares of Devon Energy by 173.6% during the first quarter. SouthState Bank Corp now owns 766 shares of the energy company’s stock worth $39,000 after acquiring an additional 486 shares during the period. MV Capital Management Inc. bought a new stake in Devon Energy in the 4th quarter valued at $29,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in Devon Energy in the 4th quarter worth $29,000. Institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling

In related news, 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 transaction of $841,320.00. Following the sale, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total value of $1,149,185.82. Following the transaction, the senior vice president directly owned 130,540 shares of the company’s stock, valued at $6,162,793.40. This trade represents a 15.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 112,371 shares of company stock worth $5,258,059. Corporate insiders own 4.58% of the company’s stock.

Devon Energy Stock Down 4.4%

Devon Energy stock 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. Devon Energy Corporation has a 1-year low of $31.47 and a 1-year high of $52.71. The company has a fifty day simple moving average of $43.52 and a 200 day simple moving average of $44.83. The company has a market cap of $26.16 billion, a P/E ratio of 10.00 and a beta of 0.38.

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

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. Devon Energy’s payout ratio is currently 30.40%.

Key Stories 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.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DVN shares. Mizuho increased their target price on Devon Energy from $62.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Tudor Pickering upgraded Devon Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Zacks Research cut Devon Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. decreased their price objective on Devon Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Finally, Argus lifted their target price on Devon Energy from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.56.

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.