Devon Energy (NYSE:DVN) Sets New 12-Month High on Analyst Upgrade

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

A number of other research analysts have also recently commented on DVN. Wolfe Research increased their price target on Devon Energy from $58.00 to $64.00 in a research note on Monday, March 9th. Barclays boosted their price objective on Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. Susquehanna upped their target price on Devon Energy from $47.00 to $52.00 and gave the stock a “positive” rating in a report on Friday, February 20th. Citigroup increased their target price on Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Piper Sandler lifted their price target on Devon Energy from $59.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.86.

More Devon Energy News

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. McAlvany Wealth Management LLC bought a new stake in shares of Devon Energy in the 4th quarter valued at about $1,503,000. Purpose Unlimited Inc. bought a new position in shares of Devon Energy during the fourth quarter worth about $130,000. World Investment Advisors raised its position in shares of Devon Energy by 54.3% during the fourth quarter. World Investment Advisors now owns 46,916 shares of the energy company’s stock worth $1,719,000 after acquiring an additional 16,505 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Devon Energy by 12.7% in the fourth quarter. Corient Private Wealth LLC now owns 116,073 shares of the energy company’s stock worth $4,253,000 after acquiring an additional 13,124 shares during the period. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Devon Energy in the fourth quarter worth approximately $25,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

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

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 EPS. Sell-side analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, March 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.9%. Devon Energy’s dividend payout ratio is 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.