BMO Capital Markets Boosts Devon Energy (NYSE:DVN) Price Target to $60.00

Devon Energy (NYSE:DVN) had its target price boosted by equities researchers at BMO Capital Markets from $55.00 to $60.00 in a report released on Tuesday,MarketScreener reports. The firm presently has an “outperform” rating on the energy company’s stock. BMO Capital Markets’ price target suggests a potential upside of 25.25% from the company’s current price.

Several other research firms have also recently issued reports on DVN. Scotiabank raised shares of Devon Energy to a “hold” rating in a research report on Friday, March 27th. Wells Fargo & Company boosted their price target on shares of Devon Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Citigroup boosted their price target on shares of Devon Energy from $44.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 30th. Benchmark restated a “buy” rating on shares of Devon Energy in a report on Friday, January 16th. Finally, UBS Group boosted their price target on shares of Devon Energy from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average price target of $52.18.

Devon Energy Price Performance

Devon Energy stock opened at $47.90 on Tuesday. The stock has a market cap of $29.77 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.97 and a beta of 0.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. Devon Energy has a 1 year low of $25.89 and a 1 year high of $52.71. The firm has a 50-day moving average of $45.74 and a two-hundred day moving average of $39.03.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. On average, research analysts forecast that Devon Energy will post 4.85 earnings per share for the current year.

Institutional Investors Weigh In On Devon Energy

Several large investors have recently modified their holdings of DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Devon Energy during the 4th quarter worth approximately $25,000. PFS Partners LLC bought a new position in shares of Devon Energy during the 3rd quarter worth approximately $25,000. First Horizon Corp bought a new position in shares of Devon Energy during the 3rd quarter worth approximately $26,000. Caldwell Trust Co bought a new position in shares of Devon Energy during the 2nd quarter worth approximately $25,000. Finally, MV Capital Management Inc. bought a new position in shares of Devon Energy during the 4th quarter worth approximately $29,000. Institutional investors 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: Analysts raised targets — BMO bumped its price target to $60 and kept an Outperform rating, implying meaningful upside versus current levels. BMO raises PT to $60
• Positive Sentiment: RBC raised its price target to $59 (sector perform), providing additional analyst support for the stock’s upside thesis. RBC raises PT to $59
• Positive Sentiment: Regulatory progress on the Coterra acquisition: the Hart‑Scott‑Rodino waiting period has expired, advancing the merger and the potential scale/production benefits if the deal closes. Merger clearance article
• Positive Sentiment: Commodity tailwind — oil has surged sharply amid Middle East tensions, supporting higher revenue potential for producers like Devon. Oil surge article
• Positive Sentiment: Technicals look constructive: DVN trading above its 50- and 200-day moving averages, which can attract momentum-oriented buying. Technical breakout article
• Neutral Sentiment: Scheduled catalyst — Devon will report Q1 2026 results on May 5 after the close; the release and conference call present a near-term event that could swing the stock. Earnings date article
• Negative Sentiment: Short-term selling pressure/sector rotation — commentators flagged that energy stocks are lagging on days when broader markets rally, which can pressure DVN despite company-specific positives. Sector weakness article
• Negative Sentiment: Shareholder scrutiny on the Coterra deal — a law firm is investigating whether Devon’s proposed exchange terms for the Coterra acquisition are fair, adding legal/transaction risk and potential distraction. Investor alert article
• Negative Sentiment: Immediate reaction: headlines noted DVN’s share price dipped amid a market uptick, reflecting profit-taking and sector rotation even as company fundamentals remain supported. Price action article

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.