JPMorgan Chase & Co. Cuts Devon Energy (NYSE:DVN) Price Target to $41.00

Devon Energy (NYSE:DVN) had its price target decreased by JPMorgan Chase & Co. from $44.00 to $41.00 in a research report released on Thursday,MarketScreener reports. JPMorgan Chase & Co. currently has an overweight rating on the energy company’s stock.

Other equities research analysts also recently issued research reports about the stock. Raymond James Financial raised their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Morgan Stanley boosted their price target on Devon Energy from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, December 11th. Wells Fargo & Company lowered their price target on Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Sanford C. Bernstein reduced their price objective on Devon Energy from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Finally, Scotiabank reissued an “outperform” rating on shares of Devon Energy in a research report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.21.

Devon Energy Trading Down 0.4%

NYSE DVN opened at $36.19 on Thursday. Devon Energy has a 12 month low of $25.89 and a 12 month high of $38.88. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average price is $36.34 and its 200-day moving average price is $34.67. The stock has a market cap of $22.70 billion, a P/E ratio of 8.52, a P/E/G ratio of 3.06 and a beta of 0.60.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. The company had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the business posted $1.10 EPS. As a group, equities analysts forecast that Devon Energy will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. Devon Energy’s dividend payout ratio is currently 22.59%.

Institutional Investors Weigh In On Devon Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Devon Energy by 1.2% in the second quarter. Geode Capital Management LLC now owns 18,595,683 shares of the energy company’s stock worth $589,399,000 after buying an additional 218,034 shares during the last quarter. Victory Capital Management Inc. raised its position in Devon Energy by 5.0% in the third quarter. Victory Capital Management Inc. now owns 11,845,958 shares of the energy company’s stock worth $415,319,000 after acquiring an additional 560,652 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Devon Energy by 6.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,353,062 shares of the energy company’s stock worth $327,938,000 after acquiring an additional 552,068 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Devon Energy by 29.3% during the 3rd quarter. AQR Capital Management LLC now owns 8,223,219 shares of the energy company’s stock valued at $288,306,000 after acquiring an additional 1,862,720 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Devon Energy by 1.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,784,270 shares of the energy company’s stock valued at $152,188,000 after purchasing an additional 77,433 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Key Devon Energy News

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

• Positive Sentiment: Unusual call‑option activity flagged by options scanners, interpreted by some traders as a bet on a dividend hike or other shareholder return (could support the stock if a payout is announced). Devon Energy Unusual Call Option Activity
• Neutral Sentiment: Market commentary and trading notes showing short‑term volatility: Zacks flagged a selloff on 1/15 and noted a prior uptick on 1/14 — indicates headline‑driven moves rather than a single fundamental change. Devon Energy (DVN) Stock Dips While Market Gains: Key Facts
• Neutral Sentiment: Discussion pieces on whether Wall Street analyst views justify positions — useful context but not a direct catalyst. Is It Worth Investing in Devon Energy (DVN)
• Negative Sentiment: Multiple reports that Devon and Coterra are in merger talks — such headlines can create uncertainty over deal terms, potential dilution or leadership changes; initial market reaction saw Devon shares fall while Coterra rose. (coverage: Reuters, Bloomberg, Financial Post) Reuters: Devon and Coterra in merger talks Bloomberg/MSN: Coterra exploring deal Financial Post: Coterra considers combining with Devon
• Negative Sentiment: BMO Capital Markets trimmed its price target on DVN (maintained Outperform) — the cut reduces near‑term upside expectations even though the rating stayed constructive. MarketScreener: BMO cuts price target
• Negative Sentiment: JPMorgan lowered its price target on DVN while keeping an Overweight rating — another downward tweak to analyst targets that can weigh on sentiment even if brokerages remain bullish on longer‑term fundamentals. MarketScreener: JPMorgan adjusts price target

Devon Energy Company Profile

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.