Devon Energy (NYSE:DVN) Given New $53.00 Price Target at Jefferies Financial Group

Devon Energy (NYSE:DVN) had its price target boosted by Jefferies Financial Group from $44.00 to $53.00 in a report published on Monday,MarketScreener reports. They currently have a hold rating on the energy company’s stock.

A number of other research analysts have also issued reports on DVN. Citigroup boosted their target price on Devon Energy from $44.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 30th. Wolfe Research boosted their target price on Devon Energy from $64.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Benchmark reissued a “buy” rating on shares of Devon Energy in a report on Friday, January 16th. UBS Group boosted their target price on Devon Energy from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Raymond James Financial boosted their target price on Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. One research 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 company. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $53.11.

Devon Energy Trading Down 1.3%

DVN opened at $47.17 on Monday. The firm has a market cap of $29.31 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 0.93 and a beta of 0.47. Devon Energy has a 52 week low of $28.09 and a 52 week high of $52.71. The business’s 50 day moving average is $46.19 and its two-hundred day moving average is $39.33. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last released 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 business had revenue of $4.12 billion for the quarter, compared to analyst estimates 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 for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. On average, research analysts predict that Devon Energy will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, March 13th. Devon Energy’s dividend payout ratio (DPR) is currently 23.02%.

Hedge Funds Weigh In On Devon Energy

A number of large investors have recently made changes to their positions in the stock. Wedge Capital Management L L P NC acquired a new stake in Devon Energy in the fourth quarter valued at $9,931,000. Allianz Asset Management GmbH grew its holdings in Devon Energy by 4.3% in the third quarter. Allianz Asset Management GmbH now owns 833,155 shares of the energy company’s stock valued at $29,210,000 after purchasing an additional 33,974 shares during the last quarter. Investors Research Corp grew its holdings in Devon Energy by 13,787.5% in the fourth quarter. Investors Research Corp now owns 27,775 shares of the energy company’s stock valued at $1,017,000 after purchasing an additional 27,575 shares during the last quarter. Philip James Wealth Mangement LLC grew its holdings in Devon Energy by 43.8% in the fourth quarter. Philip James Wealth Mangement LLC now owns 161,368 shares of the energy company’s stock valued at $5,911,000 after purchasing an additional 49,115 shares during the last quarter. Finally, Greatmark Investment Partners Inc. grew its holdings in Devon Energy by 5.6% in the third quarter. Greatmark Investment Partners Inc. now owns 571,925 shares of the energy company’s stock valued at $20,052,000 after purchasing an additional 30,435 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Key Headlines Impacting Devon Energy

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

• Positive Sentiment: Sanford C. Bernstein raised its price target to $59 and kept an “outperform” rating, signaling stronger analyst conviction and implying meaningful upside versus current levels. Bernstein Adjusts Price Target
• Positive Sentiment: Jefferies raised its target to $53 (maintaining a “hold”), a smaller but supportive lift that reduces near-term downside risk and helps underpin valuation. Jefferies Adjusts Price Target
• Positive Sentiment: BMO Capital (reported by Yahoo Finance) raised its target to $60 and kept an Outperform rating, reflecting bullish mark-to-market assumptions tied to geopolitical-driven oil price dynamics — another boost to consensus upside. Yahoo: Devon Among Best Cheap Large Caps
• Positive Sentiment: Zacks Research raised Q1 EPS estimates for Devon, which supports near-term earnings expectations and could help valuation if realized. Zacks Raises Q1 EPS Estimates
• Neutral Sentiment: Devon published pro forma details related to the Coterra merger; investors should review the disclosure for expected pro-forma production, costs, and capital allocation changes—potentially material but requiring deeper analysis. Devon Details Pro Forma Impact
• Neutral Sentiment: CNBC included Devon on a list of dividend stocks favored for steady income, which may attract income-oriented investors but is not a near-term catalyst on its own. CNBC Dividend Stocks
• Negative Sentiment: Zacks Research also published a note lowering some earnings estimates for Devon in a separate update, which introduces downside risk if revisions persist or actual results miss. Zacks Lowers Earnings Estimates

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.