Devon Energy (NYSE:DVN) Price Target Raised to $59.00

Devon Energy (NYSE:DVN) had its target price hoisted by Piper Sandler from $55.00 to $59.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Barclays boosted their price objective on Devon Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Susquehanna lifted their price target on Devon Energy from $47.00 to $52.00 and gave the stock a “positive” rating in a report on Friday, February 20th. Raymond James Financial boosted their price target on Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Jefferies Financial Group upped their price objective on Devon Energy from $33.00 to $36.00 and gave the company a “hold” rating in a report on Tuesday, January 20th. Finally, Mizuho set a $51.00 price objective on Devon Energy in a research report on Tuesday, February 3rd. Twenty-three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.00.

Devon Energy Stock Performance

NYSE DVN opened at $44.51 on Thursday. The stock has a market cap of $27.60 billion, a PE ratio of 10.67, a P/E/G ratio of 4.43 and a beta of 0.56. 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 firm has a 50-day moving average of $40.44 and a 200-day moving average of $36.88. Devon Energy has a 52-week low of $25.89 and a 52-week high of $46.15.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $17.19 billion for the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. Devon Energy’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 EPS. On average, sell-side analysts anticipate that Devon Energy will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, March 13th. Devon Energy’s payout ratio is presently 23.02%.

Institutional Investors Weigh In On Devon Energy

Large investors have recently added to or reduced their stakes in the stock. Caldwell Trust Co bought a new stake in shares of Devon Energy during the 2nd quarter valued at $25,000. PFS Partners LLC bought a new position in shares of Devon Energy in the third quarter worth $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Devon Energy in the fourth quarter worth $25,000. First Horizon Corp acquired a new position in Devon Energy in the third quarter valued at about $26,000. Finally, Accredited Wealth Management LLC lifted its position in 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 purchasing an additional 308 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: Planned all‑stock merger with Coterra would create one of the largest U.S. shale producers, promising multi‑basin scale and meaningful operating/cost synergies that support long‑term revenue and cash‑flow upside. Devon And Coterra Merger Reshapes Shale Outlook As Oil Prices Shift
• Positive Sentiment: Several brokers raised ratings/targets (UBS to $55 buy; Piper Sandler to $59 overweight), signaling analyst confidence in upside from cost cuts, multi‑basin assets and the merger. These upgrades tend to support higher share valuations. Benzinga Coverage
• Positive Sentiment: Devon has outperformed peers and the S&P over the past six months (roughly +29%), driven by operational improvements and merger expectations — momentum that attracts both value and momentum investors. DVN Outperforms Industry in the Past 6 Months: How to Play the Stock?
• Positive Sentiment: Recent bullish research pieces highlight near‑term tailwinds and argue the combined Devon/Coterra entity is undervalued vs. peers, reinforcing buy-side interest ahead of merger execution. Devon Energy: Q1 2026 Tailwinds And Merger Synergy Discussed – Reiterate Buy
• Neutral Sentiment: Coverage notes Devon’s stronger position in the NYSE Composite energy sector — a descriptive market‑weight update that underlines visibility but is not an immediate catalyst. Devon Energy (NYSE:DVN) Strengthens Position In NYSE Composite Energy Sector
• Neutral Sentiment: Sector commentary (If oil rises sharply) points to outsized upside for large E&P names like Devon, a macro tailwind that supports longer‑dated bullish cases but depends on oil price trajectory. Forget Tech Stocks. If Oil Goes to $100 These Energy Plays Are Unstoppable
• Negative Sentiment: Zacks reduced near‑term EPS forecasts (Q1/Q2) for Devon, introducing downside risk to short‑term expectations; earnings revisions like this can cap multiple expansion even as strategic positives remain. Devon Energy Q1 EPS Forecast Decreased by Zacks Research

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.