Piper Sandler Issues Positive Forecast for Devon Energy (NYSE:DVN) Stock Price

Key Points

• Piper Sandler raised its target on Devon Energy from $55 to $59 and kept an "overweight" rating, implying roughly a 31.96% upside from the prior close.
• Devon agreed to a ~$58 billion all‑stock merger with Coterra, creating one of the largest U.S. shale producers and providing a major catalyst amid other price‑target increases such as UBS's move to $55.
• The sell‑side consensus is positive—23 Buy, 6 Hold, 1 Sell with an average target of $48 ("Moderate Buy")—and Devon recently slightly beat EPS estimates while trading near $44.71.

Devon Energy (NYSE:DVN - Get Free Report) had its target price upped by equities researchers at Piper Sandler from $55.00 to $59.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the energy company's stock. Piper Sandler's target price would indicate a potential upside of 31.96% from the stock's previous close.

A number of other equities analysts have also commented on DVN. Johnson Rice cut their price objective on Devon Energy from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Friday, December 5th. Siebert Williams Shank boosted their price objective on Devon Energy from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, January 26th. Wolfe Research boosted their target price on shares of Devon Energy from $57.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. Zacks Research downgraded Devon Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, January 26th. Finally, The Goldman Sachs Group raised their price objective on Devon Energy from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, November 13th. Twenty-three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Devon Energy has an average rating of "Moderate Buy" and an average target price of $48.00.

Devon Energy Trading Up 2.8%

NYSE:DVN traded up $1.22 during mid-day trading on Thursday, hitting $44.71. 6,404,166 shares of the company's stock were exchanged, compared to its average volume of 11,215,420. Devon Energy has a fifty-two week low of $25.89 and a fifty-two week high of $46.15. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $27.72 billion, a P/E ratio of 10.72, a PEG ratio of 4.38 and a beta of 0.56. The company has a 50 day simple moving average of $40.10 and a 200-day simple moving average of $36.72.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The firm had revenue of $17.19 billion during the quarter, compared to the consensus estimate of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The company's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 earnings per share. As a group, research analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Institutional Investors Weigh In On Devon Energy

Several large investors have recently made changes to their positions in the business. Caldwell Trust Co acquired a new position in shares of Devon Energy during the second quarter worth $25,000. PFS Partners LLC acquired a new stake in Devon Energy during the 3rd quarter valued at approximately $25,000. First Horizon Corp purchased a new stake in Devon Energy during the 3rd quarter worth approximately $26,000. Accredited Wealth Management LLC boosted its stake in shares of Devon Energy by 61.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company's stock valued at $28,000 after buying an additional 308 shares during the last quarter. Finally, Ameriflex Group Inc. grew its position in shares of Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company's stock worth $28,000 after buying an additional 702 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

More Devon Energy News

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

• Positive Sentiment: UBS raised its price target on DVN from $50 to $55 and kept a "Buy" rating, implying roughly a 23.5% upside versus the recent share level — a clear catalyst supporting upside interest. UBS raises price target to $55
• Positive Sentiment: Devon agreed to a ~$US58 billion all‑stock merger with Coterra Energy, creating one of the largest U.S. shale producers. The deal promises scale, basin diversification and cost/operating synergies; rising oil prices from Middle East tensions further strengthen near‑term revenue/cash flow expectations for the combined company. Devon And Coterra Merger Reshapes Shale Outlook
• Negative Sentiment: Countering the positive headlines, Zacks Research sharply cut EPS forecasts across multiple upcoming quarters and fiscal years and issued a "Strong Sell" view — lowering FY2026 and FY2027 estimates materially. Those cuts increase downside risk to near‑term earnings expectations and could weigh on sentiment if other sell‑side firms follow. Q2 EPS Estimates Reduced by Zacks Research

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.

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