Econ Financial Services Corp Acquires Shares of 19,302 Devon Energy Corporation $DVN

Econ Financial Services Corp bought a new position in Devon Energy Corporation (NYSE:DVN) during the 4th quarter, Holdings Channel.com reports. The firm bought 19,302 shares of the energy company’s stock, valued at approximately $707,000.

Other hedge funds also recently made changes to their positions in the company. Woodline Partners LP raised its holdings in Devon Energy by 98.8% during the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after buying an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Devon Energy in the 2nd quarter worth $403,000. Global Retirement Partners LLC bought a new stake in Devon Energy in the 2nd quarter worth $241,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Devon Energy in the second quarter valued at about $34,000. Finally, Level Four Advisory Services LLC increased its position in shares of Devon Energy by 16.3% in the second quarter. Level Four Advisory Services LLC now owns 10,427 shares of the energy company’s stock valued at $332,000 after acquiring an additional 1,459 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DVN shares. Citigroup increased their target price on shares of Devon Energy from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler boosted their price target on Devon Energy from $59.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Roth Mkm reaffirmed a “buy” rating and set a $50.00 price target on shares of Devon Energy in a research report on Thursday, February 19th. Siebert Williams Shank increased their price objective on Devon Energy from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, UBS Group lifted their price objective on Devon Energy from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.89.

Devon Energy Trading Down 2.4%

NYSE:DVN opened at $50.27 on Wednesday. The company has a 50-day moving average price of $44.48 and a 200-day moving average price of $38.45. The stock has a market cap of $31.17 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 0.96 and a beta of 0.56. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $52.71.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the previous year, the company earned $1.10 earnings per share. Devon Energy’s quarterly revenue was down 6.4% on a year-over-year basis. Equities analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.9%. Devon Energy’s dividend payout ratio is 23.02%.

Key Devon Energy News

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

• Positive Sentiment: Citigroup raised its price target to $60 and assigned a “buy” rating, signaling meaningful upside from current levels and providing a clear catalyst for buyers. Citigroup Raises Price Target to $60 (Benzinga)
• Positive Sentiment: American Banking News reports a separate price-target raise to $59, reinforcing the view that analysts see continued upside and supporting medium-term bullish sentiment. Price Target Raised to $59 (AmericanBankingNews)
• Positive Sentiment: Recent pieces from Zacks and MSN highlight DVN as a top momentum and value stock—coverage that can attract retail and momentum-focused flows if fundamentals remain supportive. Why Devon Energy is a Top Momentum Stock (MSN)
• Neutral Sentiment: Zacks published several analytical posts (momentum/value/attention screens) that increase visibility but do not constitute fundamental changes; useful for investor interest but not immediate drivers of cash flow. Zacks Momentum Article
• Neutral Sentiment: CNN’s company page provides standard market data and coverage; useful for context but not a direct catalyst. Devon Energy Corporation (CNN Markets)
• Negative Sentiment: Market reports (Yahoo/Zacks recaps) note a recent larger-than-market pullback in DVN shares, which can trigger stop-losses and short-term selling pressure even as analysts upgrade targets. DVN Suffers Larger Drop Than Market (Yahoo)

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.