Devon Energy (NYSE:DVN) Price Target Raised to $59.00 at Sanford C. Bernstein

Devon Energy (NYSE:DVN) had its price objective boosted by Sanford C. Bernstein from $42.00 to $59.00 in a report released on Monday morning,MarketScreener reports. The firm currently has an outperform rating on the energy company’s stock.

Other research analysts have also issued research reports about the company. Piper Sandler increased their target price on Devon Energy from $59.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Argus increased their target price on Devon Energy from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. BMO Capital Markets increased their target price on Devon Energy from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Citigroup increased their target price on Devon Energy from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, March 30th. Finally, Zacks Research upgraded Devon Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $53.11.

Devon Energy Trading Down 1.3%

Devon Energy stock opened at $47.17 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. Devon Energy has a 12 month low of $28.09 and a 12 month high of $52.71. The stock’s 50 day simple moving average is $46.19 and its two-hundred day simple moving average is $39.33. The firm has a market cap of $29.31 billion, a PE ratio of 11.31, a P/E/G ratio of 0.93 and a beta of 0.47.

Devon Energy (NYSE:DVN) last announced 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. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the firm posted $1.10 EPS. The business’s revenue was down 6.4% on a year-over-year basis. Analysts anticipate that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tobam lifted its holdings in Devon Energy by 16.4% in the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock valued at $60,000 after purchasing an additional 230 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Devon Energy by 3.4% in the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after acquiring an additional 236 shares during the last quarter. Catalyst Financial Partners LLC increased its stake in shares of Devon Energy by 3.9% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock worth $246,000 after acquiring an additional 254 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Devon Energy by 21.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock worth $54,000 after acquiring an additional 257 shares during the last quarter. Finally, Zions Bancorporation National Association UT increased its stake in shares of Devon Energy by 7.9% in the 4th quarter. Zions Bancorporation National Association UT now owns 3,527 shares of the energy company’s stock worth $129,000 after acquiring an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Key Devon Energy News

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.