Devon Energy (NYSE:DVN) Upgraded at Truist Financial

Truist Financial upgraded shares of Devon Energy (NYSE:DVN) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

A number of other analysts have also issued reports on DVN. JPMorgan Chase & Co. dropped their price objective on shares of Devon Energy from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. Citigroup raised their price target on shares of Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Wolfe Research lifted their price target on shares of Devon Energy from $58.00 to $64.00 in a research note on Monday, March 9th. Raymond James Financial boosted their price objective on shares of Devon Energy from $44.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, February 11th. Finally, Mizuho raised their target price on Devon Energy from $51.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.86.

Devon Energy Price Performance

Shares of NYSE DVN opened at $50.38 on Monday. Devon Energy has a 1-year low of $25.89 and a 1-year high of $50.71. The business has a 50-day moving average of $43.28 and a 200-day moving average of $37.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. The company has a market capitalization of $31.24 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.33 and a beta of 0.56.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The company’s revenue was down 6.4% on a year-over-year basis. During the same period last year, the business posted $1.10 EPS. On average, equities analysts anticipate that Devon Energy will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, March 13th. Devon Energy’s dividend payout ratio (DPR) is currently 23.02%.

Institutional Investors Weigh In On Devon Energy

Institutional investors have recently modified their holdings of the stock. Woodline Partners LP grew its stake in Devon Energy by 98.8% in the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after purchasing an additional 57,555 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Devon Energy during the second quarter valued at approximately $403,000. SG Americas Securities LLC lifted its holdings in Devon Energy by 47.1% during the 2nd 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 during the last quarter. Magnetar Financial LLC lifted its holdings in Devon Energy by 30.4% during the 2nd quarter. Magnetar Financial LLC now owns 7,367 shares of the energy company’s stock worth $234,000 after buying an additional 1,719 shares during the last quarter. Finally, MAI Capital Management grew its position in shares of Devon Energy by 2.3% in the 2nd quarter. MAI Capital Management now owns 17,647 shares of the energy company’s stock worth $561,000 after acquiring an additional 395 shares in the last quarter. 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: Truist initiated coverage with a buy/strong‑buy view and a $63 price target, highlighting upside versus the current share level and likely supporting investor demand. Truist Securities initiates coverage of Devon Energy (DVN) with buy recommendation
• Positive Sentiment: TD Cowen raised its price target to $50 (from $46) while keeping a Hold — a modest positive catalyst that validates near‑term valuation after recent gains. TD Cowen Lifts PT on Devon Energy (DVN) to $50 From $46 – Here’s Why
• Positive Sentiment: Crude prices have rebounded, lifting U.S. E&P stocks including DVN and improving near‑term cash‑flow expectations and sensitivity to commodity moves. Devon Energy rises as oil prices rebound, lifting U.S. E&P stocks
• Neutral Sentiment: At CERAWeek Devon’s CEO said the company will keep activity steady despite the oil spike, signaling capital‑discipline rather than near‑term production growth — supportive for margins but limits immediate volume upside. CERAWEEK Devon Energy to hold activity steady even as oil prices spike, CEO says
• Neutral Sentiment: Analyst comparisons (DVN vs OXY) note Occidental may capture more upside from oil spikes due to less hedging and stronger revisions, which could temper relative performance expectations for Devon. DVN vs. OXY: Which Permian Stock Benefits More From Oil Price Spikes?
• Negative Sentiment: Technical analysts warn DVN is “overbought” after a >37% quarterly rally, raising the risk of a pullback or consolidation after strong near‑term gains. Red-Hot Oil Stock Flashing Ominous Bear Signal
• Negative Sentiment: Short interest rose sharply in March (≈58% increase to ~24.4M shares), which can add downside pressure if sentiment shifts or triggers squeezes that amplify intraday swings. Source: short‑interest data provided in brief

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.