Devon Energy Corporation $DVN Stock: International Assets Investment Management LLC Trims Position

International Assets Investment Management LLC reduced its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 52.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 25,000 shares of the energy company’s stock after selling 27,079 shares during the period. International Assets Investment Management LLC’s holdings in Devon Energy were worth $1,151,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DVN. Financial Management Professionals Inc. increased its stake in Devon Energy by 119.0% in the third quarter. Financial Management Professionals Inc. now owns 576 shares of the energy company’s stock worth $27,000 after purchasing an additional 313 shares during the period. Premier Financial Group purchased a new stake in shares of Devon Energy during the second quarter valued at $25,000. JFS Wealth Advisors LLC boosted its stake in shares of Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after purchasing an additional 245 shares during the period. Parvin Asset Management LLC bought a new position in shares of Devon Energy in the second quarter worth about $28,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Devon Energy in the second quarter worth about $29,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on DVN. Raymond James Financial raised their price target on shares of Devon Energy from $64.00 to $67.00 and gave the stock a “strong-buy” rating in a research note on Monday, September 14th. UBS Group boosted their price objective on shares of Devon Energy from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. BMO Capital Markets reissued an “outperform” rating and issued a $67.00 price objective on shares of Devon Energy in a research report on Tuesday, October 6th. Truist Financial dropped their target price on shares of Devon Energy from $65.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Finally, Morgan Stanley raised their target price on shares of Devon Energy from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.72.

Key Headlines Impacting Devon Energy

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

• Positive Sentiment: Devon agreed to sell its Eagle Ford assets to Crescent Energy for $4.2 billion in cash. The assets account for about 4% of Devon’s production footprint, and management plans to use the proceeds for share repurchases and debt reduction, consistent with a shift toward longer-duration assets. Article: How Could Devon Energy Reshape Its Future With A $4.2 Billion Deal?
• Positive Sentiment: Pre-earnings coverage points to rising estimates, production prospects and potential Coterra merger synergies as supports for the outlook. A separate preview says higher energy prices could boost Q3 earnings. Article: Devon Energy to Report Q3 Earnings: Buy, Sell or Hold the Stock? Article: Devon Energy Q3 Preview
• Positive Sentiment: Coverage reports that six large funds bought Devon shares, which may signal institutional interest ahead of earnings; the article’s headline alone does not establish their investment rationale. Article: 6 Big Funds Bought Devon Energy
• Neutral Sentiment: The Q3 report is a near-term catalyst. Investors will assess results and key operating metrics against expectations, including whether production and the company’s capital plans support its outlook. Article: What Analyst Projections for Key Metrics Reveal About Devon Energy Q3 Earnings
• Negative Sentiment: Analysts warn that swings in oil prices and activist pressure could make Devon’s promised shareholder payouts harder to sustain. That uncertainty may weigh on the stock until the earnings report clarifies the outlook for distributions. Article: Earnings Previews: What Shareholders Should Watch

Devon Energy Price Performance

Shares of DVN stock opened at $44.14 on Thursday. Devon Energy Corporation has a twelve month low of $32.06 and a twelve 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 fifty day simple moving average of $48.82 and a two-hundred day simple moving average of $45.98. The stock has a market capitalization of $48.55 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 1.24 and a beta of 0.43.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.40 by $0.17. The firm had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The business’s revenue for the quarter was up 73.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. On average, analysts predict that Devon Energy Corporation will post 5.49 EPS for the current fiscal year.

Insider Transactions at Devon Energy

In related news, EVP Robert Ferrall Lowe III sold 6,756 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $50.95, for a total value of $344,218.20. Following the completion of the sale, the executive vice president directly owned 72,720 shares of the company’s stock, valued at $3,705,084. This represents a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Clay Gaspar bought 3,913 shares of the company’s stock in a transaction on Monday, September 14th. The shares were acquired at an average price of $51.08 per share, for a total transaction of $199,876.04. Following the completion of the acquisition, the chief executive officer owned 619,152 shares in the company, valued at $31,626,284.16. This represents a 0.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 4.58% of the stock is owned by corporate insiders.

Devon Energy Company Profile

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.