Devon Energy (NYSE:DVN) Trading 6.6% Higher After Analyst Upgrade

Devon Energy Corporation (NYSE:DVN)’s share price was up 6.6% during mid-day trading on Wednesday after Argus raised their price target on the stock from $51.00 to $53.00. Argus currently has a buy rating on the stock. Devon Energy traded as high as $47.18 and last traded at $46.9670. Approximately 8,717,576 shares traded hands during trading, a decline of 38% from the average daily volume of 13,964,560 shares. The stock had previously closed at $44.07.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Susquehanna upped their target price on Devon Energy from $52.00 to $57.00 and gave the stock a “positive” rating in a research report on Tuesday, April 21st. Wolfe Research upped their target price on Devon Energy from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Tudor Pickering raised Devon Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Finally, Zacks Research lowered Devon Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.67.

Insider Buying and Selling at Devon Energy

In related news, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the sale, the executive vice president owned 428,452 shares of the company’s stock, valued at approximately $19,991,570.32. This trade represents a 14.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the sale, the senior vice president directly owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.58% of the company’s stock.

Devon Energy News Summary

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

• Positive Sentiment: Argus raised its price target on Devon Energy to $53 from $51 and reiterated a Buy rating, signaling additional upside from current levels. Article Title
• Positive Sentiment: JPMorgan reinstated coverage with an Overweight rating and a $62 price target, while Barclays also issued a Buy rating, reinforcing a constructive Wall Street view on DVN. Article Title
• Positive Sentiment: Devon Energy’s updated 2026 outlook after the Coterra merger points to stronger scale, with expected production of about 1.38 million boe/day, roughly $4.9 billion in capital spending, and up to 70% of free cash flow targeted for dividends and buybacks. Article Title
• Positive Sentiment: Management said it expects to capture $1 billion in annual pretax synergies by year-end 2027 and plans to retire $1.25 billion of debt in 2026, which supports cash flow and balance-sheet strength. Article Title

Institutional Investors Weigh In On Devon Energy

Large investors have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC bought a new position in Devon Energy in the 4th quarter worth about $9,931,000. Investors Research Corp boosted its stake in Devon Energy by 13,787.5% in the 4th quarter. Investors Research Corp now owns 27,775 shares of the energy company’s stock worth $1,017,000 after purchasing an additional 27,575 shares during the period. Philip James Wealth Mangement LLC boosted its stake in Devon Energy by 43.8% in the 4th quarter. Philip James Wealth Mangement LLC now owns 161,368 shares of the energy company’s stock worth $5,911,000 after purchasing an additional 49,115 shares during the period. Morningstar Investment Management LLC bought a new position in Devon Energy in the 4th quarter worth about $2,089,000. Finally, Victory Capital Management Inc. boosted its stake in Devon Energy by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 11,845,958 shares of the energy company’s stock worth $415,319,000 after purchasing an additional 560,652 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 6.6%

The firm has a 50 day simple moving average of $47.32 and a 200 day simple moving average of $42.93. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. The firm has a market cap of $29.19 billion, a P/E ratio of 13.09 and a beta of 0.37.

Devon Energy (NYSE:DVN) last issued its 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). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the business earned $0.82 EPS. The firm’s revenue for the quarter was down 14.5% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy Corporation will post 4.41 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.32 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 2.7%. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio is 26.74%.

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.