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

Devon Energy Corporation (NYSE:DVN)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Truist Financial upgraded the stock to a strong-buy rating. The company traded as high as $50.26 and last traded at $50.2130, with a volume of 2718737 shares. The stock had previously closed at $48.49.

A number of other equities analysts also recently commented on DVN. Johnson Rice dropped their target price on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, December 5th. Siebert Williams Shank boosted their price target on Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, January 26th. JPMorgan Chase & Co. dropped their price objective on Devon Energy from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. Jefferies Financial Group raised their price objective on Devon Energy from $36.00 to $44.00 in a report on Monday, March 9th. Finally, UBS Group lifted their target price on Devon Energy from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. One 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 stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $49.86.

Devon Energy News Summary

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

• Positive Sentiment: Truist initiated coverage with a buy/strong?buy view and a $63 price target, highlighting upside versus the current share level and likely supporting investor demand. Truist Securities initiates coverage of Devon Energy (DVN) with buy recommendation
• Positive Sentiment: TD Cowen raised its price target to $50 (from $46) while keeping a Hold — a modest positive catalyst that validates near?term valuation after recent gains. TD Cowen Lifts PT on Devon Energy (DVN) to $50 From $46 – Here’s Why
• Positive Sentiment: Crude prices have rebounded, lifting U.S. E&P stocks including DVN and improving near?term cash?flow expectations and sensitivity to commodity moves. Devon Energy rises as oil prices rebound, lifting U.S. E&P stocks
• Neutral Sentiment: At CERAWeek Devon’s CEO said the company will keep activity steady despite the oil spike, signaling capital?discipline rather than near?term production growth — supportive for margins but limits immediate volume upside. CERAWEEK Devon Energy to hold activity steady even as oil prices spike, CEO says
• Neutral Sentiment: Analyst comparisons (DVN vs OXY) note Occidental may capture more upside from oil spikes due to less hedging and stronger revisions, which could temper relative performance expectations for Devon. DVN vs. OXY: Which Permian Stock Benefits More From Oil Price Spikes?
• Negative Sentiment: Technical analysts warn DVN is “overbought” after a >37% quarterly rally, raising the risk of a pullback or consolidation after strong near?term gains. Red-Hot Oil Stock Flashing Ominous Bear Signal
• Negative Sentiment: Short interest rose sharply in March (?58% increase to ~24.4M shares), which can add downside pressure if sentiment shifts or triggers squeezes that amplify intraday swings. Source: short?interest data provided in brief

Hedge Funds Weigh In On Devon Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Caldwell Trust Co purchased a new stake in Devon Energy during the second quarter worth $25,000. PFS Partners LLC bought a new stake in Devon Energy during the 3rd quarter valued at $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Devon Energy in the 4th quarter valued at $25,000. First Horizon Corp purchased a new position in shares of Devon Energy in the 3rd quarter valued at $26,000. Finally, Accredited Wealth Management LLC raised its position in shares of Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after acquiring an additional 308 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Trading Up 0.2%

The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $31.24 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 1.33 and a beta of 0.56. The company has a 50-day moving average price of $43.28 and a 200 day moving average price of $37.97.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share 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 company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the company earned $1.10 earnings per share. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, research analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, March 13th. Devon Energy’s dividend payout ratio (DPR) is currently 23.02%.

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.