Devon Energy Corporation (NYSE:DVN) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Devon Energy has an average analyst recommendation of "Moderate Buy" from 31 firms (22 Buy, 6 Hold, 3 Strong Buy) with a 12‑month consensus price target of about $54.85.
• Several brokers have recently raised price targets (Mizuho to $62, RBC to $59, Wolfe to $65; Truist initiated a $63 Buy), and progress on the planned Coterra acquisition—evidenced by S&P index adjustments—suggests the merger is moving toward closing.
• Devon reported Q1 EPS of $0.82 (beating by $0.01) and revenue of $4.12B, has a market cap of ~$31.4B and a P/E of 12.1, and pays a quarterly dividend that annualizes to $0.96 for a yield of ~1.9% (DPR ~23%).

Shares of Devon Energy Corporation (NYSE:DVN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the thirty-one research firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, twenty-two have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $54.8519.

DVN has been the topic of a number of recent research reports. Mizuho lifted their price target on shares of Devon Energy from $51.00 to $62.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. Royal Bank Of Canada lifted their price target on shares of Devon Energy from $46.00 to $59.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 8th. Wolfe Research lifted their price target on shares of Devon Energy from $64.00 to $65.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Truist Financial initiated coverage on shares of Devon Energy in a research note on Tuesday, March 24th. They set a "buy" rating and a $63.00 price target on the stock. Finally, Raymond James Financial lifted their price target on shares of Devon Energy from $44.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 11th.

Devon Energy Stock Up 0.1%

DVN opened at $50.62 on Monday. Devon Energy has a fifty-two week low of $29.70 and a fifty-two week high of $52.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. The firm's fifty day moving average price is $47.09 and its two-hundred day moving average price is $40.50. The company has a market capitalization of $31.43 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.77 and a beta of 0.43.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the company earned $1.10 earnings per share. The business's revenue was down 6.4% compared to the same quarter last year. On average, analysts anticipate that Devon Energy will post 5.66 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.9%. Devon Energy's dividend payout ratio (DPR) is presently 23.02%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DVN. Pacer Advisors Inc. lifted its holdings in shares of Devon Energy by 2,108.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company's stock valued at $233,953,000 after acquiring an additional 6,097,658 shares during the period. Panagora Asset Management Inc. lifted its holdings in shares of Devon Energy by 42,376.5% during the fourth quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company's stock valued at $132,206,000 after acquiring an additional 3,600,731 shares during the period. Kimmeridge Energy Management Company LLC lifted its holdings in shares of Devon Energy by 56.5% during the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company's stock valued at $324,204,000 after acquiring an additional 3,195,862 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Devon Energy by 78.7% during the second quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company's stock valued at $202,327,000 after acquiring an additional 2,802,137 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Devon Energy by 608.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,695,079 shares of the energy company's stock valued at $98,721,000 after acquiring an additional 2,314,843 shares during the period. 69.72% of the stock is owned by institutional investors.

More Devon Energy News

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

• Positive Sentiment: Zacks upgraded Devon to a top momentum/strong‑buy view and highlights DVN’s favorable style scores and upward earnings revisions, supporting near‑term buying interest. Read More.
• Positive Sentiment: Analysts have recently raised earnings estimates and several outlets note upgrades that pushed the shares higher earlier this week, suggesting improved earnings visibility heading into Q1 results. Read More.
• Positive Sentiment: Devon led energy gains in recent NYSE trading, reflecting sector strength and investor preference for energy names with buybacks/dividend capacity. Read More.
• Positive Sentiment: Progress on the Coterra deal is visible: S&P is replacing Coterra with Veeva ahead of the expected close of Devon’s acquisition, which signals the merger is advancing through closing steps. That can drive scale and cash‑flow synergies if completed. Read More.
• Neutral Sentiment: Street prep pieces and consensus estimates for DVN’s Q1 metrics continue to circulate — useful for event traders but not new fundamental catalysts by themselves. Read More.
• Neutral Sentiment: Unusually large options activity has been flagged on DVN, indicating elevated trader interest/positioning but not revealing directional conviction on fundamentals. Read More.
• Neutral Sentiment: Coverage pieces note mixed analyst sentiment across the sector — some see longer‑term upside while others caution on commodity cyclicality; views remain heterogeneous. Read More.
• Negative Sentiment: Investor pressure and governance debates (notably from activist investors around the Coterra merger and capital‑allocation choices) could weigh on the stock if integration or board/capital decisions become contentious. Read More.

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.

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