UBS Group Issues Pessimistic Forecast for Devon Energy (NYSE:DVN) Stock Price

Devon Energy (NYSE:DVN) had its price objective dropped by equities research analysts at UBS Group from $65.00 to $62.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. UBS Group‘s price target points to a potential upside of 42.89% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Devon Energy from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Monday. Argus reaffirmed a “buy” rating and issued a $45.85 price objective on shares of Devon Energy in a report on Monday, August 17th. Morgan Stanley dropped their price target on shares of Devon Energy from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday. Barclays decreased their price objective on Devon Energy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus began coverage on shares of Devon Energy in a report on Thursday, September 10th. They set a “buy” rating and a $61.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.49.

Devon Energy Stock Up 2.3%

Devon Energy stock traded up $0.99 during trading hours on Tuesday, hitting $43.39. 8,097,505 shares of the stock traded hands, compared to its average volume of 12,877,163. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. Devon Energy has a one year low of $34.11 and a one year high of $52.71. The company has a market cap of $47.73 billion, a PE ratio of 10.85, a PEG ratio of 1.15 and a beta of 0.43. The firm’s 50-day moving average price is $48.54 and its two-hundred day moving average price is $46.07.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Thursday, November 5th. The energy company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.09. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.57 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The firm’s quarterly revenue was up 66.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.04 earnings per share. On average, research analysts forecast that Devon Energy will post 5.49 EPS for the current year.

Insider Activity at Devon Energy

In other Devon Energy news, EVP Robert Ferrall Lowe III sold 6,756 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $50.95, for a total value of $344,218.20. Following the sale, the executive vice president owned 72,720 shares of the company’s stock, valued at $3,705,084. The trade was a 8.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Clay Gaspar purchased 3,913 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were purchased at an average price of $51.08 per share, for a total transaction of $199,876.04. Following the completion of the purchase, the chief executive officer directly owned 619,152 shares of the company’s stock, valued at $31,626,284.16. This represents a 0.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 4.58% of the stock is currently owned by company insiders.

Institutional Trading of Devon Energy

A number of large investors have recently bought and sold shares of the business. Trustmark Bank Trust Department raised its holdings in Devon Energy by 4.1% during the third quarter. Trustmark Bank Trust Department now owns 8,978 shares of the energy company’s stock worth $413,000 after purchasing an additional 353 shares in the last quarter. Stelac Advisory Services LLC acquired a new position in Devon Energy during the third quarter worth about $104,000. Voya Investment Management LLC lifted its holdings in shares of Devon Energy by 26.3% in the third quarter. Voya Investment Management LLC now owns 7,938,743 shares of the energy company’s stock valued at $365,500,000 after purchasing an additional 1,654,343 shares in the last quarter. BCGM Wealth Management LLC boosted its stake in shares of Devon Energy by 3.8% during the 3rd quarter. BCGM Wealth Management LLC now owns 75,196 shares of the energy company’s stock worth $3,462,000 after purchasing an additional 2,776 shares during the last quarter. Finally, South Dakota Investment Council grew its holdings in shares of Devon Energy by 45.4% during the third quarter. South Dakota Investment Council now owns 327,360 shares of the energy company’s stock worth $15,072,000 after buying an additional 102,220 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy News Summary

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

• Positive Sentiment: Devon reported record oil and total production, strong third-quarter cash generation, and accelerated share repurchases. Management’s 2027 plan targets annual free-cash-flow-per-share growth of 5%–10%, supporting the outlook for shareholder returns. Devon Energy Q3 earnings call highlights
• Positive Sentiment: Several analysts remain constructive: JPMorgan raised its price target to $68, and Truist increased its target to $62 while maintaining a Buy rating. Susquehanna’s $60 target also implies upside from the share price cited in the reports. JPMorgan price target report
• Positive Sentiment: A Zacks analysis says DVN is technically oversold after falling 13.4% over four weeks, while analysts have been revising earnings estimates higher. Those factors could help the stock recover, though a reversal is not guaranteed. Zacks analysis of Devon Energy
• Negative Sentiment: Not all target revisions were upward: Morgan Stanley trimmed its target to $64, and Susquehanna cut its target to $60. Both retained favorable ratings, so the changes suggest some caution rather than a clear shift to a bearish view.

About Devon Energy

Devon Energy Corporation is an independent energy company focused on exploring for and producing oil, natural gas and natural gas liquids. Its activities include developing and operating producing properties and managing the infrastructure needed to bring its products to market. Founded in 1971, Devon is headquartered in Oklahoma City. Its operations are concentrated in U.S. onshore basins, including the Delaware Basin, Eagle Ford, Anadarko, Williston and Powder River basins. The company’s portfolio has evolved through acquisitions and asset sales over its history.