Devon Energy Corporation (NYSE:DVN) Stock Has Consensus Target Price of $60.72

Devon Energy Corporation (NYSE:DVN) has been given an average rating of “Moderate Buy” by the thirty analysts that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $60.72.

DVN has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of Devon Energy from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Stifel Nicolaus initiated coverage on shares of Devon Energy in a research note on Thursday, September 10th. They set a “buy” rating and a $61.00 price objective for the company. Susquehanna raised their price objective on Devon Energy from $57.00 to $63.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. raised their price objective on Devon Energy from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, October 2nd. Finally, Truist Financial lowered their target price on Devon Energy from $65.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th.

Devon Energy Stock Performance

Shares of DVN stock opened at $51.24 on Monday. The company’s fifty day simple moving average is $48.79 and its 200-day simple moving average is $45.67. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The firm has a market cap of $56.36 billion, a PE ratio of 12.17, a P/E/G ratio of 1.34 and a beta of 0.49. Devon Energy has a 12 month low of $31.65 and a 12 month high of $52.71.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm’s revenue was up 73.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. Equities research analysts expect that Devon Energy will post 5.49 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.5%. Devon Energy’s dividend payout ratio is 30.40%.

Insider Buying and Selling

In other Devon Energy news, EVP Robert Ferrall Lowe III sold 6,756 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $50.95, for a total transaction of $344,218.20. Following the transaction, the executive vice president owned 72,720 shares of the company’s stock, valued at $3,705,084. The trade was a 8.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Clay M. Gaspar acquired 3,913 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were bought at an average price of $51.08 per share, for a total transaction of $199,876.04. Following the purchase, the chief executive officer owned 619,152 shares in the company, valued at approximately $31,626,284.16. This represents a 0.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 4.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On Devon Energy

Several large investors have recently made changes to their positions in DVN. BlackRock Inc. raised its position in Devon Energy by 57.6% during the second quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock worth $3,941,054,000 after acquiring an additional 34,871,366 shares in the last quarter. State Street Corp grew its position in shares of Devon Energy by 89.8% in the 2nd quarter. State Street Corp now owns 73,179,266 shares of the energy company’s stock valued at $3,023,767,000 after acquiring an additional 34,615,088 shares during the period. Wellington Management Group LLP grew its position in shares of Devon Energy by 418.3% in the 2nd quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company’s stock valued at $2,128,905,000 after acquiring an additional 41,581,435 shares during the period. Bank of America Corp DE bought a new position in shares of Devon Energy in the 2nd quarter valued at about $421,226,000. Finally, GQG Partners LLC bought a new position in shares of Devon Energy in the 2nd quarter valued at about $402,558,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Zacks raises earnings estimates across multiple periods. Zacks Research increased its FY2026 EPS forecast to $5.02 from $4.96, FY2027 to $4.54 from $4.29, and FY2028 to $5.09 from $4.76. It also raised estimates for several upcoming quarters, including Q4 2026 to $1.28, Q1 2027 to $1.45, Q2 2027 to $1.12, and Q3 2028 to $1.18. The revisions signal stronger expected profitability and may support investor sentiment. Zacks raises earnings outlook for Devon Energy
• Positive Sentiment: Higher oil and gas prices plus production growth are improving the outlook. A recent analysis argues that Devon is benefiting from favorable macroeconomic conditions, including stronger commodity pricing and increased production. If sustained, those factors could lift cash flow, earnings and shareholder returns. Devon Energy is winning the macro lottery with higher prices and production
• Positive Sentiment: Portfolio repositioning toward the Permian is attracting attention. Devon’s Eagle Ford transaction is described as part of a pivot toward the Permian Basin. Investors may view a greater focus on core, scalable assets as a potential way to improve operational efficiency and long-term production economics. Devon Energy pivots to the Permian with Eagle Ford deal
• Neutral Sentiment: The bullish outlook remains sensitive to oil and natural-gas prices, production execution and the financial results that ultimately validate the upgraded forecasts.

About Devon Energy

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.