Devon Energy (NYSE:DVN) Stock Price Expected to Rise, Scotiabank Analyst Says

Devon Energy (NYSE:DVN) had its target price boosted by equities research analysts at Scotiabank from $41.00 to $45.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the energy company’s stock. Scotiabank’s price objective suggests a potential upside of 12.34% from the stock’s previous close.

Several other brokerages have also recently commented on DVN. Morgan Stanley reduced their price target on Devon Energy from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Mizuho upped their price objective on Devon Energy from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. decreased their target price on shares of Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. Piper Sandler dropped their price target on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Finally, Capital One Financial cut their price target on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.90.

Devon Energy Price Performance

Shares of DVN opened at $40.06 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. Devon Energy has a twelve month low of $25.89 and a twelve month high of $41.31. The stock has a market capitalization of $25.13 billion, a P/E ratio of 9.43, a P/E/G ratio of 3.66 and a beta of 0.60. The company has a 50 day moving average of $37.07 and a 200-day moving average of $35.09.

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

Institutional Trading of Devon Energy

Several institutional investors have recently added to or reduced their stakes in DVN. Geode Capital Management LLC raised its position in shares of Devon Energy by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 18,595,683 shares of the energy company’s stock valued at $589,399,000 after buying an additional 218,034 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Devon Energy by 5.0% during the third quarter. Victory Capital Management Inc. now owns 11,845,958 shares of the energy company’s stock worth $415,319,000 after purchasing an additional 560,652 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Devon Energy by 6.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,353,062 shares of the energy company’s stock valued at $327,938,000 after purchasing an additional 552,068 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Devon Energy by 29.3% during the 3rd quarter. AQR Capital Management LLC now owns 8,223,219 shares of the energy company’s stock worth $288,306,000 after buying an additional 1,862,720 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Devon Energy by 1.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,784,270 shares of the energy company’s stock worth $152,188,000 after buying an additional 77,433 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy News Summary

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

• Positive Sentiment: Large strategic rationale — multiple outlets note the deal creates a premier shale operator with scale, cost-savings and a strong Delaware Basin position, which could boost long‑term cash flow and free‑cash‑flow per share. Devon Energy CEO: ‘Stars align’ to acquire Coterra
• Positive Sentiment: Major investor support — Kimmeridge, a significant holder in both companies, publicly backed the combination as value‑creating, which can reduce investor skepticism about the strategic merits of the deal. KIMMERIDGE COMMENTS ON PROPOSED MERGER
• Neutral Sentiment: Deal mechanics — the transaction is an all‑stock combination valuing the pro forma company at about $58B (including debt); Devon shareholders would own ~54% of the combined company and the new entity will be named Devon Energy. These terms reduce near‑term cash burden but introduce share count and integration considerations. Devon Energy and Coterra Energy to Combine
• Neutral Sentiment: Broad news coverage — major outlets (Reuters, WSJ, Forbes) are highlighting the scale and market implications of the tie-up; this increases visibility and analyst attention, which can amplify moves in either direction as more details and estimates emerge. US shale producers Devon and Coterra to merge
• Negative Sentiment: Initial market reaction — reports show DVN (and CTRA) shares slid on the announcement as investors reacted to deal uncertainty, potential dilution from an all‑stock swap and integration risk. That selling pressure explains the stock decline today. DVN, CTRA: Devon, Coterra Stocks Slide
• Negative Sentiment: Shareholder litigation risk — at least two law firms have announced investigations into whether the merger is fair to Devon shareholders; increased litigation/claims could add costs, distraction and execution risk. Shareholder Alert: Investigation of Devon Energy
• Negative Sentiment: Additional fairness probe — Halper Sadeh is also investigating the merger terms for Devon shareholders, increasing near‑term legal scrutiny and uncertainty around shareholder approval. DVN Stock Alert: Halper Sadeh LLC Investigation

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.