Devon Energy (NYSE:DVN) Price Target Raised to $57.00 at Wolfe Research

Devon Energy (NYSE:DVN) had its price target hoisted by Wolfe Research from $49.00 to $57.00 in a report published on Tuesday morning,MarketScreener reports.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Zacks Research cut shares of Devon Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Mizuho set a $51.00 price objective on shares of Devon Energy in a report on Tuesday. Morgan Stanley reduced their target price on shares of Devon Energy from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Finally, Wells Fargo & Company raised their target price on shares of Devon Energy from $37.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.55.

Devon Energy Trading Up 2.3%

Shares of NYSE:DVN opened at $41.05 on Tuesday. The firm has a market cap 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 12 month low of $25.89 and a 12 month high of $41.54. The company’s fifty day simple moving average is $37.18 and its 200 day simple moving average is $35.15. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last released its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The firm had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the prior year, the company earned $1.10 EPS. As a group, research analysts forecast that Devon Energy will post 4.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Devon Energy

Several hedge funds have recently bought and sold shares of DVN. NewEdge Wealth LLC bought a new position in shares of Devon Energy during the 4th quarter worth approximately $14,640,000. Denali Advisors LLC raised its stake in Devon Energy by 33.4% in the 4th quarter. Denali Advisors LLC now owns 11,392 shares of the energy company’s stock valued at $417,000 after acquiring an additional 2,855 shares during the period. Chesapeake Capital Corp IL acquired a new stake in Devon Energy during the 4th quarter valued at $545,000. Ballentine Partners LLC lifted its holdings in Devon Energy by 5.6% during the 4th quarter. Ballentine Partners LLC now owns 10,754 shares of the energy company’s stock valued at $394,000 after purchasing an additional 568 shares during the last quarter. Finally, Connable Office Inc. bought a new position in Devon Energy during the fourth quarter worth $326,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Devon Energy

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

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.