Devon Energy (NYSE:DVN) Given New $45.00 Price Target at Scotiabank

Devon Energy (NYSE:DVN) had its price target raised by Scotiabank from $41.00 to $45.00 in a research report report published on Tuesday, MarketBeat reports. The firm currently has a sector perform rating on the energy company’s stock.

Several other research analysts have also recently weighed in on the company. Benchmark reissued a “buy” rating on shares of Devon Energy in a research report on Friday, January 16th. Capital One Financial cut their price target on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Susquehanna increased their price target on shares of Devon Energy from $42.00 to $45.00 and gave the company a “positive” rating in a research report on Monday, January 26th. The Goldman Sachs Group raised their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Evercore ISI boosted their target price on shares of Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.55.

Devon Energy Trading Up 2.3%

Shares of DVN stock opened at $41.05 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. The company has a market capitalization of $25.75 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 3.66 and a beta of 0.61. Devon Energy has a 52-week low of $25.89 and a 52-week high of $41.54. The company has a 50-day simple moving average of $37.18 and a two-hundred day simple moving average of $35.15.

Devon Energy (NYSE:DVN) last posted its earnings results on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The firm 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. Research analysts anticipate that Devon Energy will post 4.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Devon Energy

Several large investors have recently modified their holdings of DVN. Aprio Wealth Management LLC boosted its holdings in Devon Energy by 4.1% in the 3rd quarter. Aprio Wealth Management LLC now owns 7,521 shares of the energy company’s stock worth $264,000 after buying an additional 297 shares during the period. Accredited Wealth Management LLC raised its holdings in Devon Energy by 61.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after acquiring an additional 308 shares during the period. Lindenwold Advisors INC lifted its position in shares of Devon Energy by 1.2% during the third quarter. Lindenwold Advisors INC now owns 27,094 shares of the energy company’s stock worth $950,000 after acquiring an additional 314 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Devon Energy by 2.6% in the third quarter. OneDigital Investment Advisors LLC now owns 12,620 shares of the energy company’s stock worth $442,000 after acquiring an additional 318 shares during the period. Finally, Yousif Capital Management LLC grew its position in shares of Devon Energy by 0.4% in the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy News Roundup

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

• Positive Sentiment: Merger creates scale, cost-savings and a Delaware Basin leader — The all‑stock agreement to combine Devon and Coterra is being pitched as a scale-driven move that builds a premier Delaware Basin operator with potential synergies, cash‑flow improvement and a stronger footprint to allocate capital. This is the core reason investor interest and buying pressure have increased. Business Wire: Devon and Coterra to Combine
• Positive Sentiment: Analysts raise targets and outlook on deal rationale — Several sell‑side firms bumped price targets (Wolfe Research to $57, Susquehanna to $47, Scotiabank to $45) and reiterated constructive views, signaling upside to consensus and supporting the rally. These upgrades make the stock more attractive to institutional buyers. Wolfe Research Price Target Susquehanna Price Target Scotiabank Note
• Positive Sentiment: Major shareholders publicly supportive — Kimmeridge, a notable holder of both companies, issued a supportive statement saying the combination can unlock value, which reduces deal execution risk in investors’ eyes. Kimmeridge Statement
• Neutral Sentiment: Analyst/market writeups are parsing value and risks — Coverage from outlets (Zacks, Forbes, Fortune, Seeking Alpha) is raising investor awareness and debate over valuation, pro forma metrics and integration plans; helpful for investors but not a direct catalyst. Zacks: Merger Redraws 2026 Playbook
• Negative Sentiment: Regulatory and shareholder litigation risk — Two shareholder‑rights firms have launched investigations into whether the merger is fair to Devon holders, and class‑action filings or proxy disputes could add execution risk or delay the deal. That legal overhang can weigh on the stock until resolved. Halper Sadeh Investigation Monteverde/PR Newswire (investigation note)
• Negative Sentiment: Short-term selloff after announcement highlights investor uncertainty — Some reports noted initial stock weakness on deal news as investors assessed dilution, integration risk and all‑stock consideration; volatility may continue as details and shareholder votes unfold. TipRanks: Stocks Slide on Merger

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.