Louisiana State Employees Retirement System Makes New $1.59 Million Investment in Devon Energy Corporation $DVN

by · The Cerbat Gem

Louisiana State Employees Retirement System purchased a new stake in Devon Energy Corporation (NYSE:DVN – Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 31,600 shares of the energy company’s stock, valued at approximately $1,590,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Devon Energy during the 4th quarter valued at about $25,000. MV Capital Management Inc. purchased a new stake in shares of Devon Energy in the fourth quarter worth about $29,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Devon Energy in the fourth quarter valued at approximately $29,000. Ameriflex Group Inc. grew its stake in Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after acquiring an additional 702 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new position in Devon Energy during the fourth quarter valued at approximately $31,000. 69.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Devon Energy news, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the sale, the senior vice president directly owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. The trade was a 15.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the transaction, the senior vice president owned 138,529 shares in the company, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 112,371 shares of company stock worth $5,258,059 over the last three months. Company insiders own 4.58% of the company’s stock.

Devon Energy News Summary

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

  • Positive Sentiment: Several articles described Devon Energy as a potential value opportunity, with commentary calling DVN one of the most undervalued or best value stocks to buy right now.
  • Positive Sentiment: Devon Energy is expected to report second-quarter 2026 earnings on August 4, which gives investors a clear near-term catalyst and may keep attention on the stock. Devon Energy Schedules Second-Quarter 2026 Earnings Release and Conference Call
  • Neutral Sentiment: Zacks Research made a series of mixed earnings forecast changes, raising estimates for some quarters and full-year periods while cutting others, suggesting a less clear outlook rather than a strong fundamental shift.
  • Neutral Sentiment: Devon completed private exchange offers tied to notes issued by its subsidiary, a financing move that appears more balance-sheet related than a direct operating catalyst.
  • Negative Sentiment: Analysts at Zacks Research trimmed near-term Q2 2026 EPS estimates to $1.09 from $1.25, which can weigh on sentiment ahead of earnings. Devon Energy analyst estimate update
  • Negative Sentiment: Goldman Sachs reduced its price target on Devon Energy to $53 from $54, and Morgan Stanley also lowered its target to $63 from $66, reflecting a slightly softer view on the stock’s near-term upside.
  • Negative Sentiment: Recent reporting noted Devon Energy stock slipped while the broader market rose, reinforcing that investors are rotating away from the name for now.

Analysts Set New Price Targets

DVN has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced their price target on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. began coverage on Devon Energy in a report on Monday, June 8th. They issued an “overweight” rating and a $62.00 price target on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Devon Energy in a research report on Wednesday, June 10th. TD Cowen boosted their price objective on Devon Energy from $46.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, March 17th. Finally, UBS Group decreased their price objective on shares of Devon Energy from $60.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $58.81.

View Our Latest Analysis on Devon Energy

Devon Energy Price Performance

Shares of Devon Energy stock opened at $40.20 on Thursday. The company’s fifty day simple moving average is $45.76 and its two-hundred day simple moving average is $43.61. Devon Energy Corporation has a 12-month low of $31.45 and a 12-month high of $52.71. The firm has a market cap of $24.98 billion, a PE ratio of 11.20 and a beta of 0.38. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.Devon Energy’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. As a group, equities analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a yield of 3.2%. Devon Energy’s payout ratio is currently 35.65%.

Devon Energy Company Profile

(Free Report)

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.

Read More