Wall Street Zen Downgrades Devon Energy (NYSE:DVN) to Hold

Key Points

• Wall Street Zen downgraded Devon Energy from “Buy” to “Hold,” although broader analyst sentiment remains bullish with a “Moderate Buy” consensus and an average price target of $59.23.
• Devon reported stronger-than-expected quarterly results, with EPS of $1.57 versus the $1.40 estimate and revenue of $7.42 billion, up 73.1% year over year.
• Shares opened at $48.08, near their 12-month high of $52.71, while institutional investors own 69.72% of the company and insiders own 4.58%.

Devon Energy (NYSE:DVN - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also commented on DVN. Barclays decreased their price objective on shares of Devon Energy from $62.00 to $58.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. UBS Group dropped their target price on shares of Devon Energy from $58.00 to $54.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. Raymond James Financial cut their target price on Devon Energy from $66.00 to $64.00 and set a "strong-buy" rating on the stock in a research report on Thursday, July 16th. Wolfe Research set a $67.00 price target on Devon Energy and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Finally, Truist Financial raised their price target on Devon Energy from $61.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.23.

Devon Energy Stock Down 1.5%

Shares of NYSE:DVN opened at $48.08 on Friday. The business has a 50-day moving average price of $44.79 and a 200 day moving average price of $45.78. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $52.89 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.33 and a beta of 0.37. Devon Energy has a 12-month low of $31.47 and a 12-month high of $52.71.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. During the same period in the previous year, the firm earned $0.84 EPS. Devon Energy's revenue was up 73.1% on a year-over-year basis. Sell-side analysts expect that Devon Energy will post 5.24 EPS for the current year.

Insider Buying and Selling at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the transaction, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.58% of the company's stock.

Hedge Funds Weigh In On Devon Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased 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 acquiring an additional 34,871,366 shares during the period. California State Teachers Retirement System boosted its holdings in Devon Energy by 7,555.6% in the second quarter. California State Teachers Retirement System now owns 52,787,085 shares of the energy company's stock valued at $2,181,162,000 after purchasing an additional 52,097,561 shares during the period. Wellington Management Group LLP grew its stake in Devon Energy by 418.3% during the 2nd quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company's stock worth $2,128,905,000 after purchasing an additional 41,581,435 shares in the last quarter. State Street Corp increased its holdings in Devon Energy by 0.6% during the 4th quarter. State Street Corp now owns 35,542,293 shares of the energy company's stock worth $1,301,914,000 after purchasing an additional 212,074 shares during the period. Finally, Geode Capital Management LLC raised its position in Devon Energy by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company's stock valued at $700,238,000 after purchasing an additional 186,743 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy News Roundup

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

• Positive Sentiment: Seaport Global upgraded Devon to Buy, citing the company’s strong second-quarter 2026 results and continued operating potential. The company reported adjusted EPS of $1.57, above the $1.40 consensus estimate, while revenue of $7.42 billion significantly exceeded expectations and rose 73.1% year over year. Devon Energy stock gains on Seaport Global buy rating and strong Q2 2026 earnings
• Positive Sentiment: Options activity signals increased bullish interest. Traders purchased 47,557 Devon call options, approximately 21% above typical call volume. While options activity is not a fundamental indicator, the elevated call buying may support near-term momentum and suggests some traders are positioning for further gains.
• Positive Sentiment: Goldman Sachs continues to view Devon as an attractive energy dividend opportunity. Goldman highlighted Devon alongside other energy dividend stocks that may still offer upside despite the sector’s strong rally. Brent crude above $95 per barrel and continued strength in the energy sector provide a supportive backdrop for Devon’s oil and gas earnings and shareholder returns. Goldman’s Energy Dividend Picks: Why Devon and HF Sinclair Still Offer Upside
• Neutral Sentiment: Post-earnings momentum remains a focus for investors. Devon is up 16.5% since its latest earnings release, prompting analysis of whether earnings estimates can support additional gains. Its relatively low valuation, including a price-to-earnings ratio near 11, supports the value case, but the stock’s proximity to its 12-month high may limit immediate upside. Devon Energy up 16.5% since last earnings report

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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