William Blair Initiates Coverage on Devon Energy (NYSE:DVN)

Key Points

• William Blair has initiated coverage of Devon Energy (NYSE:DVN) with an "outperform" rating, indicating an optimistic outlook for the stock.
• Despite the positive rating from William Blair, other analysts have adjusted their price targets, with Bank of America lowering its target from $52 to $42, reflecting mixed perspectives on the stock's performance.
• Devon Energy reported a quarterly earnings per share (EPS) of $0.84, exceeding analyst expectations and showing a year-over-year revenue increase of 9.4%.

William Blair began coverage on shares of Devon Energy (NYSE:DVN - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage set an "outperform" rating on the energy company's stock. William Blair also issued estimates for Devon Energy's Q3 2025 earnings at $0.82 EPS, Q4 2025 earnings at $0.82 EPS, FY2025 earnings at $3.69 EPS, FY2026 earnings at $4.19 EPS, FY2027 earnings at $5.64 EPS, FY2028 earnings at $6.40 EPS and FY2029 earnings at $6.41 EPS.

Several other analysts also recently weighed in on DVN. Wolfe Research raised their target price on Devon Energy from $47.00 to $49.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Siebert Williams Shank increased their price target on Devon Energy from $47.00 to $52.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Bank of America lowered their price objective on Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. JPMorgan Chase & Co. lifted their price objective on Devon Energy from $40.00 to $42.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, Mizuho reduced their target price on Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Sixteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, Devon Energy presently has an average rating of "Moderate Buy" and a consensus target price of $44.15.

Devon Energy Stock Up 0.9%

NYSE:DVN traded up $0.31 during trading hours on Monday, hitting $35.87. The stock had a trading volume of 5,119,588 shares, compared to its average volume of 7,680,423. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Devon Energy has a 1-year low of $25.89 and a 1-year high of $45.34. The business has a 50 day simple moving average of $33.35 and a two-hundred day simple moving average of $33.19. The company has a market cap of $22.77 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. The business had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 earnings per share. Analysts predict that Devon Energy will post 4.85 EPS for the current year.

Insider Buying and Selling at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the sale, the director owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. MML Investors Services LLC grew its position in shares of Devon Energy by 144.3% during the fourth quarter. MML Investors Services LLC now owns 43,122 shares of the energy company's stock worth $1,411,000 after acquiring an additional 25,473 shares during the last quarter. Nebula Research & Development LLC acquired a new position in Devon Energy during the 4th quarter valued at about $444,000. Coldstream Capital Management Inc. grew its position in Devon Energy by 21.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 23,094 shares of the energy company's stock worth $756,000 after purchasing an additional 4,116 shares during the last quarter. Virtus ETF Advisers LLC grew its position in Devon Energy by 22.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,336 shares of the energy company's stock worth $142,000 after purchasing an additional 786 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Devon Energy in the fourth quarter valued at approximately $1,492,000. 69.72% of the stock is currently owned by institutional investors.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.