Devon Energy (NYSE:DVN) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Devon Energy (NYSE:DVN) had its target price hoisted by research analysts at Royal Bank Of Canada from $46.00 to $59.00 in a report issued on Wednesday,MarketScreener reports. The firm presently has a “sector perform” rating on the energy company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 23.20% from the stock’s current price.

A number of other research analysts have also issued reports on DVN. Zacks Research upgraded shares of Devon Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Wolfe Research increased their target price on shares of Devon Energy from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday. Truist Financial assumed coverage on shares of Devon Energy in a research report on Tuesday, March 24th. They set a “buy” rating and a $63.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Devon Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Finally, Sanford C. Bernstein decreased their target price on shares of Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Devon Energy Trading Down 0.0%

Shares of NYSE:DVN opened at $47.89 on Wednesday. The company’s 50-day moving average price is $45.90 and its two-hundred day moving average price is $39.09. 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 one year low of $26.76 and a one year high of $52.71. The stock has a market capitalization of $29.76 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 0.96 and a beta of 0.47.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $4.12 billion for 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%. Devon Energy’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. On average, equities analysts forecast that Devon Energy will post 4.85 EPS for the current fiscal year.

Institutional Trading of Devon Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Devon Energy by 2,108.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock valued at $233,953,000 after purchasing an additional 6,097,658 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in Devon Energy by 42,376.5% in the 4th quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock valued at $132,206,000 after purchasing an additional 3,600,731 shares during the last quarter. Kimmeridge Energy Management Company LLC raised its stake in shares of Devon Energy by 56.5% during the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after acquiring an additional 3,195,862 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Devon Energy by 78.7% during the second quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after acquiring an additional 2,802,137 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Devon Energy by 608.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,695,079 shares of the energy company’s stock valued at $98,721,000 after acquiring an additional 2,314,843 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy News Summary

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

• Positive Sentiment: BMO raised its price target to $60 and maintained an “outperform” rating, signaling analyst confidence and implying ~25% upside from current levels. BMO Raises PT to $60
• Positive Sentiment: Royal Bank of Canada lifted its target to $59 (sector perform), adding another institutional signal of higher fair value against recent prices. RBC Raises PT to $59
• Neutral Sentiment: Devon set Q1 2026 earnings release and call for May 5 — an upcoming catalyst that could move the stock depending on production, commodity realization and capital allocation commentary. Earnings Date May 5
• Neutral Sentiment: Devon called a special shareholder meeting for May 4 to approve doubling authorized common shares — this increases flexibility for M&A or capital raises but raises dilution/structuring questions that investors will parse ahead of any deal. Share Authorization Vote
• Neutral Sentiment: Sector commentary from Bank of America highlights continued market dislocations (shut-in barrels, dividend focus), which can be a mixed signal for Devon depending on oil recovery and cash-return priorities. BofA Sector Note
• Negative Sentiment: Shares recently moved lower (~4% on April 8) amid a broader market/sector drawdown; that pullback reflects near-term concern around oil prices and M&A execution risk. Stock Drop Article
• Negative Sentiment: A shareholder-lawfirm alert is investigating the proposed Coterra sale terms (share-exchange ratio), introducing potential legal/approval risk that could delay, alter or reprice the merger. Coterra Investor Alert

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.