New York State Teachers Retirement System Increases Stake in Devon Energy Corporation $DVN

The New York State Teachers Retirement System has increased its stake in Devon Energy (NYSE:DVN) by 6.8% in Q4, acquiring an additional 41,505 shares to hold a total of 654,954 shares valued at approximately $23.99 million. This move is part of a broader trend of institutional investors raising their positions in the company, which now has 69.72% institutional ownership. Analyst sentiment is largely positive, with a consensus “Moderate Buy” rating and an average price target of $54.85, supported by several firms boosting their targets and positive news including a Zacks upgrade and progress on the Coterra acquisition.

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