Sumitomo Life Insurance Co. Makes New Investment in Devon Energy Corporation $DVN

Sumitomo Life Insurance Co. acquired a new stake in Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 14,914 shares of the energy company’s stock, valued at approximately $616,000.

A number of other institutional investors have also recently made changes to their positions in DVN. Landscape Capital Management L.L.C. bought a new position in shares of Devon Energy in the second quarter worth approximately $2,095,000. Korea Investment CORP purchased a new position in shares of Devon Energy in the second quarter worth $36,479,000. EP Wealth Advisors LLC bought a new stake in Devon Energy during the 2nd quarter valued at $1,977,000. Ieq Capital LLC bought a new stake in Devon Energy during the 2nd quarter valued at $16,414,000. Finally, Callan Family Office LLC purchased a new stake in Devon Energy during the 2nd quarter valued at $1,869,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Truist Financial upped their price objective on shares of Devon Energy from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Argus reaffirmed a “buy” rating and set a $45.85 price objective on shares of Devon Energy in a research note on Monday, August 17th. Weiss Ratings upgraded shares of Devon Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Finally, Zacks Research lowered Devon Energy from a “strong-buy” rating to a “hold” 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 five have given a Hold rating to the company. According to MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $59.15.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Zacks Research raised its Q2 2027 EPS forecast to $1.05 from $1.03 and its FY2028 estimate to $4.76 from $4.73. These modest upgrades suggest some confidence in Devon Energy’s longer-term earnings potential. Zacks Research Raises Earnings Estimates for Devon Energy
• Neutral Sentiment: Devon Energy announced a major executive leadership reshuffle effective August 20. The change could improve execution or strategic focus, but the available report does not provide enough detail to determine its financial impact. Devon Energy Announces Major Executive Leadership Reshuffle
• Neutral Sentiment: Analysts published commentary covering Devon Energy and Plains All American, but the available headline does not disclose a specific rating change, target-price adjustment, or forecast that would clearly move DVN shares. Analysts Offer Insights on Energy Companies: Plains All American and Devon Energy
• Negative Sentiment: Zacks cut its Q3 2026 EPS forecast to $1.13 from $1.24, Q3 2027 to $0.89 from $1.19, Q4 2027 to $1.04 from $1.23, and FY2027 to $4.29 from $4.70. The reductions outweigh the small upward revisions and may pressure sentiment. Zacks maintains a “Hold” rating.

Insiders Place Their Bets

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction that occurred 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 sale, the senior vice president directly owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.58% of the company’s stock.

Devon Energy Trading Down 0.2%

NYSE:DVN opened at $49.19 on Friday. The company has a 50-day moving average price of $43.73 and a 200-day moving average price of $45.45. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. The stock has a market cap of $54.11 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.35 and a beta of 0.38.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. 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 previous year, the firm posted $0.84 EPS. The company’s revenue for the quarter was up 73.1% compared to the same quarter last year. Equities analysts predict that Devon Energy Corporation will post 5.2 EPS for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.6%. Devon Energy’s dividend payout ratio (DPR) is 30.40%.

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.