Devon Energy (NYSE:DVN) Downgraded by Wall Street Zen to Hold

Devon Energy (NYSE:DVN) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Several other brokerages have also commented on DVN. Tudor Pickering upgraded Devon Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Jefferies Financial Group increased their price objective on Devon Energy from $44.00 to $53.00 and gave the company a “hold” rating in a report on Monday, April 13th. Evercore began coverage on Devon Energy in a report on Friday. They set an “in-line” rating and a $54.00 price objective for the company. Citigroup increased their price objective on Devon Energy from $44.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 30th. Finally, Wolfe Research increased their price objective on Devon Energy from $64.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.41.

Devon Energy Stock Performance

Shares of DVN opened at $49.55 on Friday. Devon Energy has a 12 month low of $30.24 and a 12 month high of $52.71. The stock has a fifty day moving average price of $47.75 and a 200-day moving average price of $41.38. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The firm has a market cap of $30.79 billion, a PE ratio of 13.80, a P/E/G ratio of 0.79 and a beta of 0.43.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the prior year, the company posted $0.82 EPS. The business’s revenue for the quarter was down 14.5% on a year-over-year basis. Equities research analysts predict that Devon Energy will post 5.25 earnings per share for the current fiscal year.

Insider Activity

In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the sale, the executive vice president directly owned 428,452 shares of the company’s stock, valued at approximately $19,991,570.32. This trade represents a 14.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the sale, the senior vice president directly owned 130,540 shares in the company, valued at $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Devon Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Devon Energy during the 4th quarter worth about $25,000. First Horizon Corp acquired a new stake in shares of Devon Energy during the 3rd quarter valued at about $26,000. SouthState Bank Corp grew its position in shares of Devon Energy by 173.6% during the 1st quarter. SouthState Bank Corp now owns 766 shares of the energy company’s stock valued at $39,000 after acquiring an additional 486 shares during the period. MV Capital Management Inc. acquired a new stake in shares of Devon Energy during the 4th quarter valued at about $29,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Devon Energy during the 4th quarter valued at about $29,000. 69.72% of the stock is owned by institutional investors and hedge funds.

More Devon Energy News

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

• Positive Sentiment: Rising oil prices are helping Devon Energy, and one recent bull case says the company still looks cheap with commodity tailwinds expected into the second half of 2026. Article: Devon Energy: Still Cheap With FQ2’26 & H2’26 Commodity Tailwinds – Reiterate Buy
• Positive Sentiment: Recent coverage highlights Devon as a strong way to benefit from oil-market strength, with investors also focusing on the company’s post-merger scale and higher dividend outlook after the Coterra combination. Article: Devon Energy jumps as oil prices rise and investors digest post-merger capital return outlook
• Positive Sentiment: Devon’s higher quarterly dividend and ongoing analyst price targets in the mid-to-high $50s to $60s continue to support the stock’s income and valuation appeal.
• Neutral Sentiment: Evercore initiated coverage with an “in-line” rating and a $54 price target, suggesting fair value rather than a strong catalyst for a sharp re-rating.
• Neutral Sentiment: Articles comparing Devon Energy with Chevron frame DVN as the more oil-sensitive pick, which can help when crude is strong but leaves it more exposed if prices weaken. Article: Devon Energy vs. Chevron: Here’s the Better Oil Stock to Own Right Now
• Negative Sentiment: Scotiabank sharply reduced FY2026 and FY2027 earnings estimates, pointing to weaker profitability expectations ahead and weighing on investor sentiment. Article: Why Devon Energy’s (NYSE:DVN) Soft Earnings Are Just The Beginning Of Its Problems
• Negative Sentiment: Insider selling by SVP Adam Vela, along with the weak recent earnings report that missed revenue estimates, may be adding pressure by reinforcing concerns about near-term fundamentals. Article: Devon Energy (NYSE:DVN) SVP Adam Vela Sells 24,342 Shares

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.