Devon Energy (NYSE:DVN) Price Target Raised to $55.00

Devon Energy (NYSE:DVN) had its target price upped by BMO Capital Markets from $45.00 to $55.00 in a report released on Tuesday morning,MarketScreener reports. The brokerage currently has an outperform rating on the energy company’s stock.

A number of other research analysts also recently issued reports on DVN. Susquehanna boosted their price target on Devon Energy from $47.00 to $52.00 and gave the company a “positive” rating in a report on Friday, February 20th. TD Cowen raised Devon Energy to a “hold” rating in a research note on Monday, February 9th. Jefferies Financial Group raised their price target on Devon Energy from $33.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Wolfe Research lifted their price target on shares of Devon Energy from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Finally, UBS Group set a $50.00 price objective on shares of Devon Energy in a report on Wednesday, February 4th. Twenty-three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Devon Energy Stock Up 2.4%

Shares of NYSE DVN opened at $44.53 on Tuesday. The firm’s fifty day moving average is $40.27 and its 200 day moving average is $36.78. Devon Energy has a 52 week low of $25.89 and a 52 week high of $46.15. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. The company has a market cap of $27.61 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 4.33 and a beta of 0.56.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $17.19 billion for the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 EPS. On average, equities research analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Devon Energy’s dividend payout ratio is currently 23.02%.

Institutional Investors Weigh In On Devon Energy

Several hedge funds have recently bought and sold shares of the business. Allianz Asset Management GmbH increased its stake in Devon Energy by 4.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 833,155 shares of the energy company’s stock valued at $29,210,000 after purchasing an additional 33,974 shares in the last quarter. Greatmark Investment Partners Inc. grew its holdings in shares of Devon Energy by 5.6% during the third quarter. Greatmark Investment Partners Inc. now owns 571,925 shares of the energy company’s stock valued at $20,052,000 after buying an additional 30,435 shares during the last quarter. Canada Post Corp Registered Pension Plan increased its position in shares of Devon Energy by 298.1% during the third quarter. Canada Post Corp Registered Pension Plan now owns 42,351 shares of the energy company’s stock valued at $1,585,000 after acquiring an additional 31,713 shares in the last quarter. Natixis raised its holdings in Devon Energy by 101.4% in the 2nd quarter. Natixis now owns 73,902 shares of the energy company’s stock worth $2,351,000 after acquiring an additional 37,211 shares during the last quarter. Finally, RPG Investment Advisory LLC lifted its position in Devon Energy by 11.0% in the 3rd quarter. RPG Investment Advisory LLC now owns 287,110 shares of the energy company’s stock valued at $10,063,000 after acquiring an additional 28,532 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy News Summary

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

• Positive Sentiment: Piper Sandler raised its price target to $59 and kept an “overweight” rating, implying sizable upside from current levels. Piper Sandler raises PT to $59
• Positive Sentiment: UBS boosted its price target to $55 and reiterated a “buy” rating, another near‑term catalyst supporting the stock. UBS raises PT to $55
• Positive Sentiment: Devon agreed to an all‑stock, ~$58B merger with Coterra Energy that will create one of the largest U.S. shale producers; management expects substantial operating and cost synergies, and higher oil prices from Middle East tensions increase near‑term revenue/cashflow expectations for the combined company. Devon and Coterra merger
• Neutral Sentiment: The market reaction is mixed: analyst upgrades and merger scale are supportive, but stock performance will hinge on integration execution, share dilution from an all‑stock deal and how management updates capital allocation after combining portfolios.
• Negative Sentiment: Zacks Research sharply cut multiple near‑term and FY2026/FY2027 EPS estimates, dropped FY targets substantially and assigned a “Strong Sell” rating — a clear negative that increases short‑term earnings risk and may cap multiple expansion. Q2 EPS Estimates Reduced by Zacks

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.