Scotiabank Boosts Devon Energy (NYSE:DVN) Price Target to $45.00

Devon Energy (NYSE:DVN) had its price objective raised by research analysts at Scotiabank from $41.00 to $45.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The firm presently has a “sector perform” rating on the energy company’s stock. Scotiabank’s price target points to a potential upside of 3.73% from the company’s previous close.

Several other research firms have also issued reports on DVN. Barclays increased their price target on shares of Devon Energy from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. Argus raised Devon Energy to a “strong-buy” rating in a report on Wednesday, November 26th. Jefferies Financial Group raised their target price on Devon Energy from $33.00 to $36.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group upped their price target on Devon Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Piper Sandler dropped their price objective on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.97.

Devon Energy Stock Up 5.5%

Shares of DVN stock opened at $43.38 on Tuesday. Devon Energy has a one year low of $25.89 and a one year high of $43.68. 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 has a fifty day moving average price of $37.32 and a 200 day moving average price of $35.21. The stock has a market cap of $27.21 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61.

Devon Energy (NYSE:DVN) last announced 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. The firm had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. During the same quarter in the previous year, the firm posted $1.10 EPS. Analysts predict that Devon Energy will post 4.85 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. TD Asset Management Inc increased its position in shares of Devon Energy by 6.4% during the second quarter. TD Asset Management Inc now owns 267,322 shares of the energy company’s stock worth $8,504,000 after acquiring an additional 16,106 shares in the last quarter. Greatmark Investment Partners Inc. boosted its stake in Devon Energy by 5.6% in the 3rd quarter. Greatmark Investment Partners Inc. now owns 571,925 shares of the energy company’s stock worth $20,052,000 after purchasing an additional 30,435 shares during the period. Natixis increased its holdings in Devon Energy by 101.4% during the 2nd quarter. Natixis now owns 73,902 shares of the energy company’s stock worth $2,351,000 after purchasing an additional 37,211 shares in the last quarter. RPG Investment Advisory LLC increased its holdings in Devon Energy by 11.0% during the 3rd quarter. RPG Investment Advisory LLC now owns 287,110 shares of the energy company’s stock worth $10,063,000 after purchasing an additional 28,532 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Devon Energy by 70.0% in the 3rd quarter. CWM LLC now owns 336,861 shares of the energy company’s stock valued at $11,810,000 after purchasing an additional 138,717 shares during the period. 69.72% of the stock is owned by institutional investors.

Key Devon Energy News

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

• Positive Sentiment: Coterra merger confirmed — the all‑stock deal to combine Devon and Coterra into a roughly $58 billion Delaware-focused shale operator is being priced as transformational for scale, cost savings and cash generation, a primary driver of investor optimism. Coterra Energy and Devon Energy Seal $58 Billion Merger Deal
• Positive Sentiment: Large analyst upgrades and higher price targets — Wolfe Research, Susquehanna and Scotiabank raised price targets (Wolfe’s move to $57 is the most bullish), lifting sentiment and providing near‑term upside catalysts. Wolfe Research adjusts price target on Devon Energy Susquehanna adjusts Devon Energy price target
• Positive Sentiment: Unusually heavy call‑option buying — intraday data show ~36,900 calls traded (≈56% above average), and options‑flow analysis points to bullish positioning that often precedes upward stock moves. This likely amplified today’s price gain. Behind the Scenes of Devon Energy’s Latest Options Trends
• Positive Sentiment: Stock reached a 12‑month high after upgrades — coverage noting a fresh 12‑month high reinforces momentum and can attract momentum/ETF flows. Devon Energy Reaches New 12-Month High After Analyst Upgrade
• Neutral Sentiment: Analyst consensus still mixed in other outlets — some coverage labels the stock “neutral,” reflecting varying views on valuation and execution even as many brokers raise targets. That keeps upside but also some analyst‑level skepticism. Analysts Are Neutral on These Energy Stocks
• Neutral Sentiment: Valuation debate — some pieces highlight a DCF vs P/E gap and ask whether current pricing fully reflects fundamentals; this signals that further moves may depend on post‑merger synergies and updated earnings outlooks. Is Devon Energy Pricing Reflect Its DCF And P/E Valuation Gap Today
• Neutral Sentiment: Sector activity/peer deals could influence expectations — related Delaware Basin deals and sector consolidation stories are reminding investors of scale benefits, but they don’t guarantee immediate accretion. Houston energy company lands massive Delaware Basin deal

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.