The two have called it quits just a few months after they first stepped out together publicly, multiple outlets report. "The long distance made it very difficult," a source told E! News. "They had fun, but it wasn't sustainable being so far apart."
"It was great while it lasted, but they both agreed it was best to move on," the source added.
Davidson is in New York City filming his new romantic comedy, Meet Cute, with Kaley Cuoco, while Dynevor has been busy shooting season 2 of Bridgerton in the U.K.
ET has reached out to reps for both Davidson and Dynevor for comment.
Back in July, Davidson, 27, and Dynevor, 26, looked totally smitten with each other while attending day six of the Wimbledon Tennis Championships at the All England Lawn Tennis and Croquet Club. The Saturday Night Live comedian seemed to pay no mind to onlookers as he cuddled, laughed and took selfies with Dynevor.
Rumors that Dynevor and Davidson were dating first started swirling back in March, when an eyewitness told ET that the pair was allegedly holding hands while in the United Kingdom together. That same month, a source told ET that Davidson and Dynevor "really hit it off" after meeting at a New York City gathering.
"They started off as friends and quickly realized there was chemistry between [them]," the source said. "Pete and Phoebe started out casually dating but things have gotten a bit more serious recently."
The source added that Davidson and Dynevor "have traveled between New York City and England to spend time with one another while also working."