Devon Energy (NYSE:DVN) Price Target Raised to $65.00

Devon Energy (NYSE:DVN) had its price objective raised by Wolfe Research from $64.00 to $65.00 in a report issued on Monday morning,MarketScreener reports. Wolfe Research currently has an outperform rating on the energy company’s stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company raised their target price on shares of Devon Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Roth Mkm restated a “buy” rating and set a $50.00 target price on shares of Devon Energy in a report on Thursday, February 19th. Piper Sandler raised their target price on shares of Devon Energy from $59.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Zacks Research upgraded shares of Devon Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, Siebert Williams Shank raised their target price on shares of Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Devon Energy Stock Performance

NYSE:DVN opened at $47.90 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $45.74 and a two-hundred day moving average price of $39.03. Devon Energy has a twelve month low of $25.89 and a twelve month high of $52.71. The company has a market capitalization of $29.77 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 0.97 and a beta of 0.47.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the firm posted $1.10 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, research analysts expect that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. Devon Energy’s payout ratio is 23.02%.

Institutional Investors Weigh In On Devon Energy

A number of hedge funds and other institutional investors have recently modified their holdings of DVN. Caldwell Trust Co purchased a new stake in shares of Devon Energy during the second quarter worth about $25,000. PFS Partners LLC purchased a new stake in shares of Devon Energy during the third quarter worth about $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Devon Energy during the fourth quarter worth about $25,000. First Horizon Corp purchased a new stake in shares of Devon Energy during the third quarter worth about $26,000. Finally, Accredited Wealth Management LLC grew its holdings in shares of Devon Energy by 61.6% during the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after buying an additional 308 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Key Devon Energy News

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

• Positive Sentiment: Analysts raised targets — BMO bumped its price target to $60 and kept an Outperform rating, implying meaningful upside versus current levels. BMO raises PT to $60
• Positive Sentiment: RBC raised its price target to $59 (sector perform), providing additional analyst support for the stock’s upside thesis. RBC raises PT to $59
• Positive Sentiment: Regulatory progress on the Coterra acquisition: the Hart‑Scott‑Rodino waiting period has expired, advancing the merger and the potential scale/production benefits if the deal closes. Merger clearance article
• Positive Sentiment: Commodity tailwind — oil has surged sharply amid Middle East tensions, supporting higher revenue potential for producers like Devon. Oil surge article
• Positive Sentiment: Technicals look constructive: DVN trading above its 50- and 200-day moving averages, which can attract momentum-oriented buying. Technical breakout article
• Neutral Sentiment: Scheduled catalyst — Devon will report Q1 2026 results on May 5 after the close; the release and conference call present a near-term event that could swing the stock. Earnings date article
• Negative Sentiment: Short-term selling pressure/sector rotation — commentators flagged that energy stocks are lagging on days when broader markets rally, which can pressure DVN despite company-specific positives. Sector weakness article
• Negative Sentiment: Shareholder scrutiny on the Coterra deal — a law firm is investigating whether Devon’s proposed exchange terms for the Coterra acquisition are fair, adding legal/transaction risk and potential distraction. Investor alert article
• Negative Sentiment: Immediate reaction: headlines noted DVN’s share price dipped amid a market uptick, reflecting profit-taking and sector rotation even as company fundamentals remain supported. Price action article

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.