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

Key Points

• Devon Energy was downgraded by Wall Street Zen from buy to hold, even though several other analysts remain bullish and the stock still carries an average Moderate Buy rating with a consensus target price of $56.41.
• The company’s latest earnings missed expectations, reporting $1.04 EPS versus the expected $1.06 and revenue of $3.81 billion versus $4.34 billion. Revenue also fell 14.5% year over year, adding pressure to sentiment.
• Devon Energy shares were trading higher on the day, opening at $49.55 and rising 4.9%, while insider selling and mixed institutional activity remained notable. Two executives recently sold shares, but institutional investors still own about 69.72% of the company.

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 report released on Sunday.

DVN has been the topic of a number of other research reports. Mizuho upped their target price on Devon Energy from $51.00 to $62.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. Siebert Williams Shank upped their target price on Devon Energy from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, January 26th. Roth Mkm reaffirmed a "buy" rating and set a $57.00 target price on shares of Devon Energy in a research note on Tuesday, April 28th. Barclays upped their target price on Devon Energy from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, March 16th. Finally, Piper Sandler upped their target price on Devon Energy from $59.00 to $67.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $56.41.

Devon Energy Trading Up 4.9%

DVN opened at $49.55 on Friday. The stock has a market cap of $30.79 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 0.79 and a beta of 0.43. The stock's 50 day moving average price is $47.75 and its 200-day moving average price is $41.38. Devon Energy has a one year low of $30.24 and a one year high of $52.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.02). The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.34 billion. Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The company's quarterly revenue was down 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. On average, equities analysts forecast that Devon Energy will post 5.25 EPS for the current year.

Insider Activity at Devon Energy

In other Devon Energy news, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the sale, the senior vice president 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the sale, the executive vice president directly owned 428,452 shares in the company, valued at $19,991,570.32. This trade represents a 14.05% decrease in their position. The SEC filing for this sale provides additional information. 0.71% of the stock is owned by corporate insiders.

Institutional Trading of Devon Energy

Several hedge funds and other institutional investors have recently bought and sold shares of DVN. Pacer Advisors Inc. boosted its position in Devon Energy by 2,108.0% during the 4th 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 in the last quarter. Panagora Asset Management Inc. boosted its position in Devon Energy by 42,376.5% during the 4th 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 in the last quarter. Kimmeridge Energy Management Company LLC boosted its position in Devon Energy by 56.5% during the 4th 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 in the last quarter. AQR Capital Management LLC boosted its position in Devon Energy by 78.7% during the 2nd 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Devon Energy by 92.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,180,682 shares of the energy company's stock valued at $260,692,000 after acquiring an additional 2,485,603 shares in the last quarter. 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: Rising oil prices are helping Devon Energy, and one recent bull case says the company still looks cheap with commodity tailwinds expected into the second half of 2026. Article: Devon Energy: Still Cheap With FQ2'26 & H2'26 Commodity Tailwinds - Reiterate Buy
• Positive Sentiment: Recent coverage highlights Devon as a strong way to benefit from oil-market strength, with investors also focusing on the company’s post-merger scale and higher dividend outlook after the Coterra combination. Article: Devon Energy jumps as oil prices rise and investors digest post-merger capital return outlook
• Positive Sentiment: Devon’s higher quarterly dividend and ongoing analyst price targets in the mid-to-high $50s to $60s continue to support the stock’s income and valuation appeal.
• Neutral Sentiment: Evercore initiated coverage with an “in-line” rating and a $54 price target, suggesting fair value rather than a strong catalyst for a sharp re-rating.
• Neutral Sentiment: Articles comparing Devon Energy with Chevron frame DVN as the more oil-sensitive pick, which can help when crude is strong but leaves it more exposed if prices weaken. Article: Devon Energy vs. Chevron: Here's the Better Oil Stock to Own Right Now
• Negative Sentiment: Scotiabank sharply reduced FY2026 and FY2027 earnings estimates, pointing to weaker profitability expectations ahead and weighing on investor sentiment. Article: Why Devon Energy's NYSE: DVN Soft Earnings Are Just The Beginning Of Its Problems
• Negative Sentiment: Insider selling by SVP Adam Vela, along with the weak recent earnings report that missed revenue estimates, may be adding pressure by reinforcing concerns about near-term fundamentals. Article: Devon Energy NYSE: DVN SVP Adam Vela Sells 24,342 Shares

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.

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.