Devon Energy Corporation $DVN Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 59.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,990 shares of the energy company’s stock after selling 27,573 shares during the period. Pitcairn Co.’s holdings in Devon Energy were worth $666,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DVN. Allianz Asset Management GmbH boosted its holdings in shares of Devon Energy by 4.3% in the third quarter. Allianz Asset Management GmbH now owns 833,155 shares of the energy company’s stock worth $29,210,000 after buying an additional 33,974 shares during the period. Greatmark Investment Partners Inc. increased its position in shares of Devon Energy by 5.6% in the third quarter. Greatmark Investment Partners Inc. now owns 571,925 shares of the energy company’s stock worth $20,052,000 after acquiring an additional 30,435 shares in the last quarter. Canada Post Corp Registered Pension Plan raised its holdings in shares of Devon Energy by 298.1% during the third quarter. Canada Post Corp Registered Pension Plan now owns 42,351 shares of the energy company’s stock valued at $1,585,000 after acquiring an additional 31,713 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Devon Energy by 5.0% during the third quarter. Victory Capital Management Inc. now owns 11,845,958 shares of the energy company’s stock valued at $415,319,000 after acquiring an additional 560,652 shares during the period. Finally, Natixis lifted its position in shares of Devon Energy by 101.4% in the 2nd quarter. Natixis now owns 73,902 shares of the energy company’s stock valued at $2,351,000 after acquiring an additional 37,211 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Scotiabank decreased their price objective on shares of Devon Energy from $45.00 to $41.00 and set a “sector perform” rating for the company in a research note on Monday, February 23rd. Susquehanna boosted their target price on shares of Devon Energy from $47.00 to $52.00 and gave the company a “positive” rating in a research note on Friday, February 20th. Mizuho set a $51.00 target price on Devon Energy in a report on Tuesday, February 3rd. Weiss Ratings raised Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Finally, Piper Sandler lifted their price target on Devon Energy from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday. Twenty-three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.00.

Devon Energy Stock Performance

Shares of DVN opened at $44.51 on Friday. The company has a market capitalization of $27.60 billion, a PE ratio of 10.67, a PEG ratio of 4.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. The company’s 50 day moving average price is $40.44 and its 200 day moving average price is $36.88. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $46.15.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $17.19 billion during the quarter, compared to the consensus estimate of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 EPS. Research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Devon Energy’s dividend payout ratio is 23.02%.

Key Headlines Impacting Devon Energy

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

• Positive Sentiment: Planned all‑stock merger with Coterra would create one of the largest U.S. shale producers, promising multi‑basin scale and meaningful operating/cost synergies that support long‑term revenue and cash‑flow upside. Devon And Coterra Merger Reshapes Shale Outlook As Oil Prices Shift
• Positive Sentiment: Several brokers raised ratings/targets (UBS to $55 buy; Piper Sandler to $59 overweight), signaling analyst confidence in upside from cost cuts, multi‑basin assets and the merger. These upgrades tend to support higher share valuations. Benzinga Coverage
• Positive Sentiment: Devon has outperformed peers and the S&P over the past six months (roughly +29%), driven by operational improvements and merger expectations — momentum that attracts both value and momentum investors. DVN Outperforms Industry in the Past 6 Months: How to Play the Stock?
• Positive Sentiment: Recent bullish research pieces highlight near‑term tailwinds and argue the combined Devon/Coterra entity is undervalued vs. peers, reinforcing buy-side interest ahead of merger execution. Devon Energy: Q1 2026 Tailwinds And Merger Synergy Discussed – Reiterate Buy
• Neutral Sentiment: Coverage notes Devon’s stronger position in the NYSE Composite energy sector — a descriptive market‑weight update that underlines visibility but is not an immediate catalyst. Devon Energy (NYSE:DVN) Strengthens Position In NYSE Composite Energy Sector
• Neutral Sentiment: Sector commentary (If oil rises sharply) points to outsized upside for large E&P names like Devon, a macro tailwind that supports longer‑dated bullish cases but depends on oil price trajectory. Forget Tech Stocks. If Oil Goes to $100 These Energy Plays Are Unstoppable
• Negative Sentiment: Zacks reduced near‑term EPS forecasts (Q1/Q2) for Devon, introducing downside risk to short‑term expectations; earnings revisions like this can cap multiple expansion even as strategic positives remain. Devon Energy Q1 EPS Forecast Decreased by Zacks Research

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.