Devon Energy (NYSE:DVN) Stock Price Expected to Rise, Scotiabank Analyst Says

Devon Energy (NYSE:DVN) had its target price increased by Scotiabank from $41.00 to $46.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the energy company’s stock. Scotiabank’s target price points to a potential downside of 4.52% from the stock’s current price.

Other analysts have also issued reports about the stock. Truist Financial started coverage on shares of Devon Energy in a report on Tuesday, March 24th. They issued a “buy” rating and a $63.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Devon Energy from $46.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, March 27th. Raymond James Financial boosted their price objective on shares of Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Piper Sandler boosted their price objective on shares of Devon Energy from $59.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Finally, Sanford C. Bernstein boosted their price objective on shares of Devon Energy from $42.00 to $59.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.14.

Devon Energy Stock Up 2.2%

Shares of DVN opened at $48.18 on Wednesday. The firm has a market cap of $29.92 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 0.87 and a beta of 0.47. Devon Energy has a 12-month low of $29.70 and a 12-month high of $52.71. The company’s 50-day moving average price is $46.57 and its 200 day moving average price is $39.86. 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 (NYSE:DVN) last issued 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 firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. Devon Energy’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 EPS. On average, sell-side analysts forecast that Devon Energy will post 4.81 earnings per share for the current year.

Institutional Trading of Devon Energy

Several hedge funds have recently added to or reduced their stakes in DVN. Pacer Advisors Inc. raised its holdings in Devon Energy by 2,108.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock valued at $233,953,000 after acquiring an additional 6,097,658 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Devon Energy by 42,376.5% in the fourth quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock valued at $132,206,000 after acquiring an additional 3,600,731 shares in the last quarter. Kimmeridge Energy Management Company LLC raised its holdings in Devon Energy by 56.5% in 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 in the last quarter. AQR Capital Management LLC raised its holdings in Devon Energy by 78.7% in 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Devon Energy by 608.8% in 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 in the last quarter. Institutional investors and hedge funds 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: Devon agreed to a material merger with Coterra Energy to form a larger Permian-focused producer — the deal targets cost synergies, higher dividends and a multibillion-dollar buyback program, which should materially boost scale and shareholder returns if executed. Devon And Coterra Merger Puts Permian Scale And Cash Returns In Focus
• Positive Sentiment: Tudor Pickering upgraded Devon, signaling improved analyst conviction around the company’s outlook and the merger-related thesis. Analyst upgrades tend to support short-term buying interest. Devon Energy (NYSE:DVN) Upgraded at Tudor Pickering
• Positive Sentiment: Susquehanna raised its price target to $57, implying additional upside versus prior targets and giving investors another bullish data point on fair value. Susquehanna Raises Devon Energy (NYSE:DVN) Price Target to $57.00
• Neutral Sentiment: Coverage notes a recent momentum cooldown after a strong multi-month run — Devon has meaningful 3–12 month gains but a short-term pullback; this raises risk of short-term consolidation even as the longer-term case (scale + returns) remains intact. Assessing Devon Energy (DVN) Valuation After Recent Momentum Cooldown
• Neutral Sentiment: Multiple industry write-ups compare Devon to peers like EOG and provide valuation/operational context — useful for relative-value assessment but not single-handedly catalytic. Devon Energy vs. EOG: Which Shale Stock Offers More Upside in 2026?
• Neutral Sentiment: Several retail and research pieces (Zacks, Kalkine, 247WallSt) are highlighting Devon as a trending energy name — increased attention can raise liquidity and volatility but is ambiguous for direction. Do Devon Energy Shares Rise as NYSE Composite Energy Gains?
• Neutral Sentiment: Broader review pieces that include Devon alongside other energy names (and even non-core coverage, e.g., Venture Global) provide background but are unlikely to move the stock materially on their own. Reviewing Venture Global (NYSE:VG) & Devon Energy (NYSE:DVN)
• Negative Sentiment: Scotiabank raised its price target to $46 but kept a “sector perform” rating; that PT is below recent levels, suggesting another analyst sees limited near-term upside — this creates some conflicting signals amid bullish deal headlines. Devon Energy Price Target Note (Benzinga)

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.