Devon Energy (NYSE:DVN) Price Target Raised to $62.00

Devon Energy (NYSE:DVN) had its price objective lifted by equities researchers at Truist Financial from $61.00 to $62.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Truist Financial‘s price objective points to a potential upside of 46.84% from the stock’s previous close.

DVN has been the topic of a number of other research reports. Citigroup lifted their price target on shares of Devon Energy from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Argus restated a “buy” rating and issued a $45.85 price objective on shares of Devon Energy in a research note on Monday, August 17th. Stifel Nicolaus started coverage on shares of Devon Energy in a report on Thursday, September 10th. They set a “buy” rating and a $61.00 price objective for the company. UBS Group lifted their target price on shares of Devon Energy from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $67.00 target price on shares of Devon Energy in a research note on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $60.53.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $42.22 on Monday. Devon Energy has a 1-year low of $32.49 and a 1-year high of $52.71. The firm has a market capitalization of $46.45 billion, a PE ratio of 10.56, a PEG ratio of 1.10 and a beta of 0.43. The business’s 50 day moving average is $48.64 and its 200-day moving average is $46.04. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Thursday, November 5th. The energy company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.57 billion. Devon Energy had a return on equity of 14.86% and a net margin of 16.22%. Devon Energy’s quarterly revenue was up 66.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 earnings per share. Sell-side analysts predict that Devon Energy will post 5.49 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Devon Energy

Several institutional investors have recently added to or reduced their stakes in DVN. Sigma Planning Corp boosted its holdings in shares of Devon Energy by 3.5% in the 2nd quarter. Sigma Planning Corp now owns 6,902 shares of the energy company’s stock worth $285,000 after acquiring an additional 233 shares in the last quarter. Retirement Planning Group LLC grew its position in Devon Energy by 4.5% during the 2nd quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock worth $233,000 after acquiring an additional 243 shares during the last quarter. JFS Wealth Advisors LLC grew its position in Devon Energy by 56.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after acquiring an additional 245 shares during the last quarter. Physician Wealth Advisors Inc. increased its holdings in Devon Energy by 32.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,062 shares of the energy company’s stock valued at $49,000 after purchasing an additional 260 shares in the last quarter. Finally, 71 West Capital Partners increased its holdings in Devon Energy by 2.5% during the 3rd quarter. 71 West Capital Partners now owns 11,004 shares of the energy company’s stock valued at $507,000 after purchasing an additional 268 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: Devon’s Q3 earnings call highlighted stronger cash returns, while the company completed a reported $617.12 million share-repurchase tranche. Devon Energy Earnings Call Signals Stronger Cash Returns Devon Energy Earnings And Buyback Put Fair Value Back In Focus
• Positive Sentiment: Stifel Nicolaus and Scotiabank each assigned DVN a Buy rating, adding to the constructive analyst outlook. Devon Energy Receives a Buy from Stifel Nicolaus Devon Energy Gets a Buy from Scotiabank
• Neutral Sentiment: Major shareholder TCIM is pushing for a sale of the company, and management has said it will consider takeover proposals. That creates potential deal upside, but no offer or transaction is confirmed. Devon Energy Opens Door to Takeover Offers
• Neutral Sentiment: Devon’s planned $4.2 billion Eagle Ford asset sale and focus on higher-return assets could reshape its portfolio; the article frames the move alongside questions about valuation and earnings support. Devon Energy Stock May Be Undervalued Despite Its Asset Sale
• Negative Sentiment: Susquehanna lowered its price target to $60 from $63, though it maintained a positive rating. Barclays also trimmed its target, signaling reduced near-term expectations even as analyst views remain supportive overall. Susquehanna Lowers Devon Energy Price Target Barclays Trims Devon Energy Price Target
• Negative Sentiment: Industry commentary points to inflation-driven input-cost pressure for oil and gas producers, a potential headwind for Devon if costs rise faster than commodity pricing. Devon Energy and Other Oil Producers Face Inflation Pressure

Devon Energy Company Profile

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.