Devon Energy (NYSE:DVN) Price Target Raised to $50.00

Devon Energy (NYSE:DVN) had its target price raised by TD Cowen from $46.00 to $50.00 in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a hold rating on the energy company’s stock.

A number of other equities analysts have also recently weighed in on DVN. Johnson Rice reduced their price target on Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a report on Friday, December 5th. Raymond James Financial raised their price objective on Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Barclays boosted their price objective on Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho set a $51.00 target price on Devon Energy in a research note on Tuesday, February 3rd. Finally, Piper Sandler increased their target price on Devon Energy from $59.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Twenty-three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $49.37.

Devon Energy Stock Up 1.3%

DVN opened at $48.81 on Tuesday. Devon Energy has a fifty-two week low of $25.89 and a fifty-two week high of $49.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. The company has a fifty day moving average of $42.24 and a two-hundred day moving average of $37.56. The stock has a market capitalization of $30.26 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.27 and a beta of 0.56.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.19 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period in the prior year, the company posted $1.10 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, research analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, March 13th. Devon Energy’s payout ratio is presently 23.02%.

Hedge Funds Weigh In On Devon Energy

Hedge funds have recently made changes to their positions in the company. Woodline Partners LP raised its stake in Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after purchasing an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Devon Energy in the 2nd quarter valued at $403,000. Police & Firemen s Retirement System of New Jersey boosted its stake in Devon Energy by 4.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 95,270 shares of the energy company’s stock worth $3,031,000 after purchasing an additional 3,661 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Devon Energy by 4.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 157,479 shares of the energy company’s stock worth $5,009,000 after buying an additional 7,254 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Devon Energy by 47.1% during the second quarter. SG Americas Securities LLC now owns 20,625 shares of the energy company’s stock worth $656,000 after buying an additional 6,602 shares in the last quarter. 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: Multiple analyst upgrades and a fresh “buy” from Barclays lifted sentiment, helping push the stock to a new 52‑week high and fueling recent inflows. Read More.
• Positive Sentiment: Devon is on a multi‑session winning streak (now seven sessions), reflecting momentum trading and growing investor appetite for U.S. producers amid geopolitical oil tightness. This streak is cited across coverage and has materially increased market cap. Read More.
• Positive Sentiment: Macro/oil outlook pieces argue that sustained elevated crude prices would disproportionately boost free cash flow at well‑managed producers like Devon, supporting buybacks/dividends and valuation expansion. That bullish commodity narrative is underpinning recent upgrades. Read More.
• Neutral Sentiment: Coverage notes Devon has risen ~8.4% since the last earnings report and analysts are re‑checking estimates — this explains part of the run but flags that further gains will depend on sustainment of oil prices and execution. Read More.
• Neutral Sentiment: Some research houses (e.g., TD Cowen) are keeping non‑committal stances (hold), showing not all Street views are uniformly bullish; that leaves room for mixed trading on any oil price or operational surprise. Read More.
• Negative Sentiment: Coverage reminding investors that lower oil prices would reverse the rally — some pieces outline scenarios where falling crude would hurt producers’ leverage and cash flow, creating downside risk if the oil rally fades. Read More.

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.