NEOS Investment Management LLC Grows Stock Position in Devon Energy Corporation $DVN

NEOS Investment Management LLC increased its stake in Devon Energy Corporation (NYSE:DVN) by 78.8% in the second quarter, HoldingsChannel reports. The fund owned 191,578 shares of the energy company’s stock after purchasing an additional 84,416 shares during the period. NEOS Investment Management LLC’s holdings in Devon Energy were worth $7,916,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DVN. AXQ Capital LP purchased a new position in Devon Energy in the 2nd quarter worth approximately $1,049,000. iSAM Funds UK Ltd purchased a new stake in shares of Devon Energy during the second quarter valued at approximately $1,521,000. Outfitters Financial LLC grew its holdings in shares of Devon Energy by 67.7% in the second quarter. Outfitters Financial LLC now owns 40,259 shares of the energy company’s stock worth $1,664,000 after purchasing an additional 16,259 shares during the last quarter. Continuum Advisory LLC purchased a new position in shares of Devon Energy in the second quarter worth $73,000. Finally, Nykredit A S purchased a new position in shares of Devon Energy in the second quarter worth $3,774,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Down 1.5%

Shares of Devon Energy stock opened at $48.08 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a 12-month low of $31.47 and a 12-month high of $52.71. The company has a market cap of $52.89 billion, a P/E ratio of 11.42, a PEG ratio of 1.31 and a beta of 0.37. The company’s fifty day simple moving average is $44.79 and its two-hundred day simple moving average is $45.78.

Devon Energy (NYSE:DVN) last posted its 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. The firm had revenue of $7.42 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company’s quarterly revenue was up 73.1% compared to the same quarter last year. During the same period last year, the company posted $0.84 EPS. Research analysts anticipate that Devon Energy Corporation will post 5.24 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 2.7%. Devon Energy’s dividend payout ratio (DPR) is 30.40%.

Insider Buying and Selling

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. 4.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DVN. Zacks Research cut shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Wall Street Zen downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Saturday. Raymond James Financial dropped their target price on shares of Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating for the company in a report on Thursday, July 16th. Susquehanna raised their target price on Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Finally, The Goldman Sachs Group reduced their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.23.

Key Headlines Impacting Devon Energy

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

• Positive Sentiment: Seaport Global upgraded Devon to Buy, citing the company’s strong second-quarter 2026 results and continued operating potential. The company reported adjusted EPS of $1.57, above the $1.40 consensus estimate, while revenue of $7.42 billion significantly exceeded expectations and rose 73.1% year over year. Devon Energy stock gains on Seaport Global buy rating and strong Q2 2026 earnings
• Positive Sentiment: Options activity signals increased bullish interest. Traders purchased 47,557 Devon call options, approximately 21% above typical call volume. While options activity is not a fundamental indicator, the elevated call buying may support near-term momentum and suggests some traders are positioning for further gains.
• Positive Sentiment: Goldman Sachs continues to view Devon as an attractive energy dividend opportunity. Goldman highlighted Devon alongside other energy dividend stocks that may still offer upside despite the sector’s strong rally. Brent crude above $95 per barrel and continued strength in the energy sector provide a supportive backdrop for Devon’s oil and gas earnings and shareholder returns. Goldman’s Energy Dividend Picks: Why Devon and HF Sinclair Still Offer Upside
• Neutral Sentiment: Post-earnings momentum remains a focus for investors. Devon is up 16.5% since its latest earnings release, prompting analysis of whether earnings estimates can support additional gains. Its relatively low valuation, including a price-to-earnings ratio near 11, supports the value case, but the stock’s proximity to its 12-month high may limit immediate upside. Devon Energy up 16.5% since last earnings report

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.