Devon Energy (NYSE:DVN) Price Target Raised to $42.00

Devon Energy (NYSE:DVN) had its price target boosted by Barclays from $40.00 to $42.00 in a research note released on Wednesday morning, Marketbeat Ratings reports. Barclays currently has an equal weight rating on the energy company’s stock.

A number of other research analysts also recently commented on the company. Piper Sandler lowered their price objective on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Wells Fargo & Company lowered their price target on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. 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 report on Wednesday, December 17th. Johnson Rice reduced their target price on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Finally, Capital One Financial dropped their price target on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.31.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $38.63 on Wednesday. The company has a market cap of $24.23 billion, a PE ratio of 9.09, a P/E/G ratio of 3.44 and a beta of 0.60. Devon Energy has a fifty-two week low of $25.89 and a fifty-two week high of $39.19. The firm has a 50-day simple moving average of $36.57 and a 200 day simple moving average of $34.81. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last issued its earnings results on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $0.00 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted $1.10 earnings per share. On average, sell-side analysts anticipate that Devon Energy will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, December 15th. Devon Energy’s dividend payout ratio is 22.59%.

Institutional Trading of Devon Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. TD Asset Management Inc boosted its stake in shares of Devon Energy by 6.4% during the 2nd quarter. TD Asset Management Inc now owns 267,322 shares of the energy company’s stock worth $8,504,000 after acquiring an additional 16,106 shares in the last quarter. Natixis lifted its holdings in shares of Devon Energy by 101.4% during the second quarter. Natixis now owns 73,902 shares of the energy company’s stock valued at $2,351,000 after purchasing an additional 37,211 shares during the last quarter. CWM LLC boosted its position in shares of Devon Energy by 70.0% in the 3rd quarter. CWM LLC now owns 336,861 shares of the energy company’s stock valued at $11,810,000 after purchasing an additional 138,717 shares during the period. Stephens Inc. AR increased its stake in Devon Energy by 90.4% in the 2nd quarter. Stephens Inc. AR now owns 72,546 shares of the energy company’s stock worth $2,308,000 after purchasing an additional 34,448 shares in the last quarter. Finally, Scott & Selber Inc. purchased a new position in Devon Energy in the 2nd quarter worth about $2,455,000. 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: BofA raised its price target to $46 and kept a Buy rating, citing Devon’s resilient portfolio — a clear vote of confidence that can support further upside. BofA Lifts Devon Energy (DVN) PT to $46, Favoring Its Resilient Portfolio
• Positive Sentiment: Barclays analyst commentary flagged upside for DVN and said the stock is expected to rise, adding momentum to the bullish narrative. Devon Energy (NYSE:DVN) Stock Price Expected to Rise, Barclays Analyst Says
• Positive Sentiment: Investor’s Business Daily upgraded DVN’s relative price strength, a technical endorsement that often attracts momentum-focused traders. IBD rating upgrades: Devon Energy shows improved relative price strength
• Neutral Sentiment: Seeking Alpha published a bullish take noting “continued room to grow,” but this is an analytic view rather than a concrete catalyst. Devon Energy Has Continued Room To Grow
• Neutral Sentiment: Zacks noted DVN outperformed the market in the recent session (stock moved higher), but this is observational and not a fresh fundamental driver. Devon Energy (DVN) Surpasses Market Returns: Some Facts Worth Knowing
• Neutral Sentiment: Two analyst roundups (The Globe and Mail) discussed Devon alongside peers — useful context but no major new catalyst. Analysts Offer Insights on Energy Companies: Devon Energy (DVN) and Kinder Morgan (KMI)
• Neutral Sentiment: An American Banking News note raised a price target to $36 (a raise from prior levels but below current trading), which limits perceived upside relative to other higher PTs. Devon Energy (NYSE:DVN) Price Target Raised to $36.00
• Negative Sentiment: A Yahoo/Finance piece questioned whether investors should “reconsider” DVN after mixed share performance, flagging that some caution remains amid variable flows and market conditions. Is It Time To Reconsider Devon Energy (DVN) After Mixed Share Price Performance?

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.