Devon Energy (NYSE:DVN) Reaches New 12-Month High After Analyst Upgrade

Devon Energy Corporation (NYSE:DVN) hit a new 52-week high on Wednesday after Wolfe Research raised their price target on the stock from $49.00 to $57.00. The stock traded as high as $41.54 and last traded at $41.0520, with a volume of 23413412 shares traded. The stock had previously closed at $40.14.

Several other research firms have also commented on DVN. Scotiabank upped their price target on shares of Devon Energy from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Royal Bank Of Canada set a $42.00 target price on shares of Devon Energy and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Siebert Williams Shank raised their price target on shares of Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Evercore ISI lifted their price target on Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a report on Monday, October 6th. Finally, Mizuho set a $51.00 price objective on Devon Energy in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $45.55.

Devon Energy News Roundup

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

• Positive Sentiment: Merger creates scale, cost-savings and a Delaware Basin leader — The all‑stock agreement to combine Devon and Coterra is being pitched as a scale-driven move that builds a premier Delaware Basin operator with potential synergies, cash‑flow improvement and a stronger footprint to allocate capital. This is the core reason investor interest and buying pressure have increased. Business Wire: Devon and Coterra to Combine
• Positive Sentiment: Analysts raise targets and outlook on deal rationale — Several sell‑side firms bumped price targets (Wolfe Research to $57, Susquehanna to $47, Scotiabank to $45) and reiterated constructive views, signaling upside to consensus and supporting the rally. These upgrades make the stock more attractive to institutional buyers. Wolfe Research Price Target Susquehanna Price Target Scotiabank Note
• Positive Sentiment: Major shareholders publicly supportive — Kimmeridge, a notable holder of both companies, issued a supportive statement saying the combination can unlock value, which reduces deal execution risk in investors’ eyes. Kimmeridge Statement
• Neutral Sentiment: Analyst/market writeups are parsing value and risks — Coverage from outlets (Zacks, Forbes, Fortune, Seeking Alpha) is raising investor awareness and debate over valuation, pro forma metrics and integration plans; helpful for investors but not a direct catalyst. Zacks: Merger Redraws 2026 Playbook
• Negative Sentiment: Regulatory and shareholder litigation risk — Two shareholder‑rights firms have launched investigations into whether the merger is fair to Devon holders, and class‑action filings or proxy disputes could add execution risk or delay the deal. That legal overhang can weigh on the stock until resolved. Halper Sadeh Investigation Monteverde/PR Newswire (investigation note)
• Negative Sentiment: Short-term selloff after announcement highlights investor uncertainty — Some reports noted initial stock weakness on deal news as investors assessed dilution, integration risk and all‑stock consideration; volatility may continue as details and shareholder votes unfold. TipRanks: Stocks Slide on Merger

Institutional Trading of Devon Energy

Institutional investors have recently modified their holdings of the company. Woodline Partners LP raised its position in Devon Energy by 98.8% in the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after acquiring an additional 57,555 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Devon Energy in the 2nd quarter worth approximately $403,000. Ameritas Advisory Services LLC bought a new stake in shares of Devon Energy in the 2nd quarter worth approximately $65,000. QRG Capital Management Inc. raised its holdings in shares of Devon Energy by 1.2% in the 2nd quarter. QRG Capital Management Inc. now owns 144,382 shares of the energy company’s stock worth $4,593,000 after purchasing an additional 1,756 shares in the last quarter. Finally, Capital Advisors Inc. OK lifted its stake in Devon Energy by 4.5% during the second quarter. Capital Advisors Inc. OK now owns 26,000 shares of the energy company’s stock valued at $827,000 after purchasing an additional 1,114 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 2.3%

The stock has a market capitalization of $25.75 billion, a P/E ratio of 9.66, a PEG ratio of 3.66 and a beta of 0.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. The stock’s fifty day moving average is $37.18 and its two-hundred day moving average is $35.15.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The company had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. As a group, research analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

About Devon Energy

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.