Devon Energy (NYSE:DVN) Hits New 1-Year High on Analyst Upgrade

Devon Energy Corporation (NYSE:DVN)’s stock price hit a new 52-week high during trading on Wednesday after Wolfe Research raised their price target on the stock from $49.00 to $57.00. The stock traded as high as $41.54 and last traded at $41.0520, with a volume of 23413412 shares traded. The stock had previously closed at $40.14.

DVN has been the subject of a number of other research reports. Mizuho set a $51.00 target price on Devon Energy in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. Citigroup lifted their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Scotiabank boosted their target price on shares of Devon Energy from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Morgan Stanley lowered their price target on shares of Devon Energy from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.55.

Key Headlines Impacting Devon Energy

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

• Positive Sentiment: Merger creates scale, cost-savings and a Delaware Basin leader — The all‑stock agreement to combine Devon and Coterra is being pitched as a scale-driven move that builds a premier Delaware Basin operator with potential synergies, cash‑flow improvement and a stronger footprint to allocate capital. This is the core reason investor interest and buying pressure have increased. Business Wire: Devon and Coterra to Combine
• Positive Sentiment: Analysts raise targets and outlook on deal rationale — Several sell‑side firms bumped price targets (Wolfe Research to $57, Susquehanna to $47, Scotiabank to $45) and reiterated constructive views, signaling upside to consensus and supporting the rally. These upgrades make the stock more attractive to institutional buyers. Wolfe Research Price Target Susquehanna Price Target Scotiabank Note
• Positive Sentiment: Major shareholders publicly supportive — Kimmeridge, a notable holder of both companies, issued a supportive statement saying the combination can unlock value, which reduces deal execution risk in investors’ eyes. Kimmeridge Statement
• Neutral Sentiment: Analyst/market writeups are parsing value and risks — Coverage from outlets (Zacks, Forbes, Fortune, Seeking Alpha) is raising investor awareness and debate over valuation, pro forma metrics and integration plans; helpful for investors but not a direct catalyst. Zacks: Merger Redraws 2026 Playbook
• Negative Sentiment: Regulatory and shareholder litigation risk — Two shareholder‑rights firms have launched investigations into whether the merger is fair to Devon holders, and class‑action filings or proxy disputes could add execution risk or delay the deal. That legal overhang can weigh on the stock until resolved. Halper Sadeh Investigation Monteverde/PR Newswire (investigation note)
• Negative Sentiment: Short-term selloff after announcement highlights investor uncertainty — Some reports noted initial stock weakness on deal news as investors assessed dilution, integration risk and all‑stock consideration; volatility may continue as details and shareholder votes unfold. TipRanks: Stocks Slide on Merger

Institutional Trading of Devon Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caldwell Trust Co acquired a new position in Devon Energy in the second quarter worth $25,000. PFS Partners LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at about $25,000. First Horizon Corp bought a new stake in shares of Devon Energy during the 3rd quarter valued at about $26,000. Accredited Wealth Management LLC raised its stake in Devon Energy by 61.6% during the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after acquiring an additional 308 shares during the period. Finally, Ameriflex Group Inc. raised its stake in Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after acquiring an additional 702 shares during the period. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 2.3%

The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. The stock’s fifty day simple moving average is $37.18 and its 200-day simple moving average is $35.15. The stock has a market cap of $25.75 billion, a P/E ratio of 9.66, a PEG ratio of 3.66 and a beta of 0.61.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same period in the prior year, the firm earned $1.10 EPS. On average, research analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

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.