Devon Energy (NYSE:DVN) Sets New 52-Week High Following Analyst Upgrade

Shares of Devon Energy Corporation (NYSE:DVN) hit a new 52-week high during trading on Wednesday after Barclays upgraded the stock from an equal weight rating to an overweight rating. Barclays now has a $50.00 price target on the stock, up from their previous price target of $42.00. Devon Energy traded as high as $41.54 and last traded at $41.0520, with a volume of 23413412 shares changing hands. The stock had previously closed at $40.14.

DVN has been the topic of a number of other reports. Capital One Financial reduced their price objective on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. UBS Group restated a “buy” rating on shares of Devon Energy in a report on Tuesday. Sanford C. Bernstein cut their price target on shares of Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. BMO Capital Markets lowered their price objective on Devon Energy from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. Finally, Morgan Stanley dropped their price objective on Devon Energy from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.97.

Key Headlines Impacting Devon Energy

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Woodline Partners LP lifted its holdings in shares of Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after purchasing an additional 57,555 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Devon Energy during the second quarter worth $403,000. Ameritas Advisory Services LLC bought a new position in shares of Devon Energy in the second quarter valued at $65,000. KLP Kapitalforvaltning AS lifted its stake in shares of Devon Energy by 1.8% in the second quarter. KLP Kapitalforvaltning AS now owns 216,300 shares of the energy company’s stock valued at $6,881,000 after buying an additional 3,900 shares in the last quarter. Finally, Shell Asset Management Co. grew its holdings in shares of Devon Energy by 10.6% during the second quarter. Shell Asset Management Co. now owns 142,338 shares of the energy company’s stock valued at $4,528,000 after buying an additional 13,597 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 5.5%

The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $27.21 billion, a P/E ratio of 10.21, a P/E/G ratio of 3.79 and a beta of 0.61. The firm’s 50-day moving average price is $37.32 and its 200 day moving average price is $35.21.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned $1.10 EPS. As a group, equities research analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current year.

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.