Devon Energy (NYSE:DVN) Price Target Raised to $68.00

Devon Energy (NYSE:DVN) had its price target boosted by analysts at JPMorgan Chase & Co. from $65.00 to $68.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 60.40% from the company’s previous close.

DVN has been the topic of a number of other reports. Truist Financial boosted their target price on Devon Energy from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup lifted their price objective on Devon Energy from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Raymond James Financial upped their price objective on Devon Energy from $64.00 to $67.00 and gave the stock a “strong-buy” rating in a report on Monday, September 14th. Susquehanna lowered their target price on Devon Energy from $63.00 to $60.00 and set a “positive” rating for the company in a research report on Monday. Finally, Argus reissued a “buy” rating and issued a $45.85 target price on shares of Devon Energy in a report on Monday, August 17th. Two 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. Based on data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $60.61.

Devon Energy Price Performance

DVN traded up $0.18 during trading on Monday, hitting $42.39. 8,807,752 shares of the company traded hands, compared to its average volume of 12,868,575. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The company has a market cap of $46.63 billion, a PE ratio of 10.60, a P/E/G ratio of 1.10 and a beta of 0.43. The stock’s 50-day simple moving average is $48.64 and its two-hundred day simple moving average is $46.04. Devon Energy has a 1 year low of $33.34 and a 1 year high of $52.71.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Thursday, November 5th. The energy company reported $1.42 EPS for the quarter, beating the consensus estimate 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 net margin of 16.22% and a return on equity of 14.86%. The business’s revenue was up 66.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, sell-side analysts anticipate that Devon Energy will post 5.49 earnings per share for the current fiscal 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 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 transaction, the executive vice president owned 72,720 shares in the company, valued at $3,705,084. The trade was a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Clay M. Gaspar bought 3,913 shares of Devon Energy stock in a transaction dated Monday, September 14th. The stock was purchased at an average cost 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 position. The disclosure for this purchase is available in the SEC filing. Insiders own 4.58% of the company’s stock.

Institutional Trading of Devon Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DVN. Wellington Management Group LLP grew its position in Devon Energy by 418.3% in the 2nd quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company’s stock valued at $2,128,905,000 after acquiring an additional 41,581,435 shares during the last quarter. BlackRock Inc. lifted its position in shares of Devon Energy by 57.6% during the second quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock worth $3,941,054,000 after purchasing an additional 34,871,366 shares during the last quarter. State Street Corp lifted its position in shares of Devon Energy by 89.8% during the second quarter. State Street Corp now owns 73,179,266 shares of the energy company’s stock worth $3,023,767,000 after purchasing an additional 34,615,088 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Devon Energy during the second quarter valued at $421,226,000. Finally, GQG Partners LLC purchased a new stake in shares of Devon Energy during the second quarter valued at $402,558,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

More Devon Energy News

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

• Positive Sentiment: Devon reported record oil and total production and highlighted about $2 billion in free cash flow. Management also accelerated share repurchases and outlined a 2027 plan targeting 5%–10% annual free-cash-flow-per-share growth, signaling confidence in future cash generation. Devon Energy Q3 2026 earnings call highlights
• Positive Sentiment: Third-quarter results included $1.0 billion in net earnings, while the company completed a $617 million share-repurchase tranche. Buybacks can support per-share results and return capital to shareholders. Devon Energy earnings and buyback
• Positive Sentiment: Truist raised its price target to $62 and maintained a Buy rating, reinforcing a bullish analyst view.
• Neutral Sentiment: Activist shareholder TCIM has urged Devon to sell the company, and management is open to considering takeover proposals. A deal could offer upside, but no transaction is assured. Devon Energy takeover proposals
• Negative Sentiment: Several firms trimmed price targets: Morgan Stanley cut its target to $64 while keeping an Overweight rating, and Susquehanna lowered its target to $60 but retained a Positive rating. The adjustments suggest some caution even as both firms remain constructive.

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.