Devon Energy (NYSE:DVN) Reaches New 12-Month High Following Analyst Upgrade

Devon Energy Corporation (NYSE:DVN) hit a new 52-week high on Thursday after Piper Sandler raised their price target on the stock from $59.00 to $67.00. Piper Sandler currently has an overweight rating on the stock. Devon Energy traded as high as $46.22 and last traded at $45.9240, with a volume of 7050632 shares traded. The stock had previously closed at $45.36.

A number of other brokerages have also recently commented on DVN. BMO Capital Markets lifted their target price on Devon Energy from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Wells Fargo & Company increased their price target on Devon Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Barclays lifted their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Benchmark reiterated a “buy” rating on shares of Devon Energy in a research report on Friday, January 16th. Finally, Weiss Ratings raised shares of Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Twenty-three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.85.

Key Headlines Impacting Devon Energy

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

• Positive Sentiment: Piper Sandler raised its price target to $67 and kept an Overweight rating—implies ~45% upside from current levels. Piper Sandler raise
• Positive Sentiment: Wolfe Research boosted its price target to $64, another analyst upgrade adding weight to buy-side interest. Wolfe Research boost
• Positive Sentiment: Jefferies reiterated/expressed expectation that DVN shares should rise, supporting analyst-driven demand. Jefferies commentary
• Positive Sentiment: Unusual options flow: about 99,358 call contracts traded (≈311% above average), signaling large speculative or hedged bullish bets that can amplify intraday upside.
• Positive Sentiment: Geopolitical tensions in the Middle East have pushed oil and gas prices higher, directly boosting Devon’s realized pricing outlook as an oil & gas producer. Middle East tensions lift oil
• Positive Sentiment: Jim Cramer flagged a potential natural-gas shortage and said Devon is well positioned—media attention can drive retail interest. Cramer on Devon
• Neutral Sentiment: Coverage note: Devon has recently underperformed some energy peers even as analysts remain optimistic—this keeps upside potential but signals relative weakness to monitor. Barchart analysis
• Negative Sentiment: Counterpoint: a Motley Fool piece warns U.S. supply could limit how much Devon benefits from crude rallies, capping potential gains if prices retreat. Fool analysis

Hedge Funds Weigh In On Devon Energy

Hedge funds have recently bought and sold shares of the business. Caldwell Trust Co purchased a new stake in shares of Devon Energy during the second quarter valued at $25,000. PFS Partners LLC purchased a new position in Devon Energy in the 3rd quarter worth about $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Devon Energy during the 4th quarter valued at about $25,000. First Horizon Corp bought a new stake in Devon Energy during the 3rd quarter valued at about $26,000. Finally, Accredited Wealth Management LLC boosted its position in Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after buying an additional 308 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $28.63 billion, a PE ratio of 11.07, a PEG ratio of 4.59 and a beta of 0.56. The firm’s 50-day simple moving average is $41.12 and its 200-day simple moving average is $37.16.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The firm had revenue of $17.19 billion during the quarter, compared to the consensus estimate of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. On average, research analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Devon Energy’s payout ratio is 23.02%.

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.