Devon Energy (NYSE:DVN) Sets New 12-Month High After Analyst Upgrade

Devon Energy Corporation (NYSE:DVN) shares reached a new 52-week high during trading on Monday after Citigroup raised their price target on the stock from $44.00 to $60.00. Citigroup currently has a buy rating on the stock. Devon Energy traded as high as $52.52 and last traded at $52.53, with a volume of 92475 shares changing hands. The stock had previously closed at $52.07.

Other equities analysts also recently issued reports about the company. TD Cowen upped their price target on Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday, March 17th. Weiss Ratings raised shares of Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Scotiabank reduced their price objective on shares of Devon Energy from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Monday, February 23rd. Roth Mkm restated a “buy” rating and issued a $50.00 target price on shares of Devon Energy in a report on Thursday, February 19th. Finally, Susquehanna increased their target price on shares of Devon Energy from $47.00 to $52.00 and gave the company a “positive” rating in a research report on Friday, February 20th. One 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.89.

Key Headlines Impacting Devon Energy

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

• Positive Sentiment: Major analyst upgrade: Citigroup raised its price target on DVN from $44 to $60 and moved to a “buy” rating, signaling a meaningful upside case and likely supporting investor interest. Benzinga
• Positive Sentiment: Additional upward target: American Banking News reported a new $59 price target, reinforcing recent analyst optimism and suggesting analyst consensus is trending higher. Price Target Raised to $59
• Positive Sentiment: Fundamental/value narrative: Zacks highlighted DVN as a strong value stock based on style/valuation scores, which can attract income/value investors and support multiple re-ratings if commodity/earnings outlooks remain stable. Zacks — Strong Value Stock
• Neutral Sentiment: Investor attention: Multiple Zacks pieces and other outlets note elevated investor interest and searching activity for DVN; this can increase volume and volatility but is not by itself directional. Zacks — Attracting Attention
• Negative Sentiment: Near‑term weakness: Market writeups noted DVN posted a larger intraday decline than the broader market, signaling short‑term selling and profit‑taking despite the analyst upgrades; this may pressure the stock until catalysts (earnings, commodity moves, or further upgrades) change sentiment. Yahoo Finance — Suffers a Larger Drop Zacks — Suffers a Larger Drop

Institutional Investors Weigh In On Devon Energy

Several large investors have recently modified their holdings of the company. Caldwell Trust Co acquired a new position in shares of Devon Energy in the 2nd quarter valued at $25,000. PFS Partners LLC acquired a new stake in Devon Energy during the 3rd quarter worth $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Devon Energy during the 4th quarter worth $25,000. First Horizon Corp purchased a new position in Devon Energy during the 3rd quarter worth $26,000. Finally, Accredited Wealth Management LLC increased its stake in Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after purchasing an additional 308 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Down 1.1%

The business’s 50 day simple moving average is $44.20 and its 200 day simple moving average is $38.34. 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 $31.94 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.12 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 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. The business had revenue of $4.12 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 business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 earnings per share. Research analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

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

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.