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

Devon Energy (NYSE:DVN) had its target price lifted by equities research analysts at Argus from $51.00 to $53.00 in a report released on Wednesday,MarketScreener reports. The firm currently has a “buy” rating on the energy company’s stock. Argus’ target price would indicate a potential upside of 15.35% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Scotiabank increased their target price on shares of Devon Energy from $41.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. started coverage on Devon Energy in a research note on Monday. They set an “overweight” rating and a $62.00 price target for the company. Piper Sandler raised their price objective on Devon Energy from $59.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Truist Financial boosted their target price on Devon Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Finally, Barclays upped their target price on Devon Energy from $54.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $58.74.

Devon Energy Stock Up 4.3%

NYSE DVN traded up $1.88 during trading on Wednesday, reaching $45.95. The company’s stock had a trading volume of 2,809,326 shares, compared to its average volume of 13,892,123. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $28.55 billion, a PE ratio of 12.80 and a beta of 0.37. Devon Energy has a 1-year low of $31.45 and a 1-year high of $52.71. The business has a 50-day moving average price of $47.32 and a 200-day moving average price of $42.93.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. On average, research analysts forecast that Devon Energy will post 4.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Adam M. Vela sold 24,342 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total value of $1,149,185.82. Following the sale, the senior vice president owned 130,540 shares in the company, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the transaction, the executive vice president directly owned 428,452 shares in the company, valued at $19,991,570.32. This trade represents a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of Devon Energy by 0.6% in the 4th quarter. State Street Corp now owns 35,542,293 shares of the energy company’s stock valued at $1,301,914,000 after purchasing an additional 212,074 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Devon Energy by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company’s stock valued at $700,238,000 after purchasing an additional 186,743 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Devon Energy by 17.5% during the 4th quarter. Victory Capital Management Inc. now owns 13,916,979 shares of the energy company’s stock valued at $509,779,000 after purchasing an additional 2,071,021 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Devon Energy by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,606,131 shares of the energy company’s stock valued at $483,475,000 after buying an additional 235,561 shares in the last quarter. Finally, Kimmeridge Energy Management Company LLC grew its stake in Devon Energy by 56.5% during the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock worth $324,204,000 after buying an additional 3,195,862 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy News Roundup

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

• Positive Sentiment: Devon Energy highlighted stronger combined-company production after the Coterra merger, with 2026 output expected to average 1.38 million boe/day, supporting higher scale and cash generation. Reuters article
• Positive Sentiment: The company reiterated a shareholder-friendly capital return plan, including up to 70% of free cash flow returned via dividends and share repurchases, which could support the stock. Yahoo Finance article
• Positive Sentiment: Devon said it expects $1.0 billion in annual pretax synergies by the end of 2027, suggesting meaningful cost savings from the merger. Yahoo Finance article
• Positive Sentiment: Analyst sentiment turned more constructive, with JPMorgan reinstating DVN at Overweight and a $62 target, and Barclays also assigning a Buy rating. JPMorgan article
• Neutral Sentiment: Devon also provided detailed 2026 guidance for spending, hedging, and tax rates; these numbers give investors more visibility but are not clearly a catalyst by themselves. GlobeNewswire release
• Negative Sentiment: Despite the upbeat outlook, the company is guiding to heavy capital spending and still faces commodity-price, integration, and execution risks, which may be weighing on the shares. Updated outlook article

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.