Devon Energy (DVN) Stock Forecast & Price Target

Q: What analysts cover Devon Energy?

Devon Energy has been rated by research analysts at Argus , Barclays , Citigroup , JPMorgan Chase & Co. , Raymond James Financial , Stifel Nicolaus , Susquehanna , Truist Financial , UBS Group , Weiss Ratings , and Wells Fargo & Company in the past 90 days.

$46.55 -0.18 (-0.38%)

Closing price 03:59 PM Eastern

Extended Trading

$46.58 +0.03 (+0.06%)

As of 07:58 PM Eastern

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Devon Energy - Analysts' Recommendations and Stock Price Forecast (2026)

Consensus Rating

Moderate Buy

Based on 30 Analyst Ratings

Sell
0

Hold
5

Buy
25

Based on 30 Wall Street analysts who have issued ratings for Devon Energy in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 30 analysts, 5 have given a hold rating, 23 have given a buy rating, and 2 have given a strong buy rating for DVN.

Consensus Price Target

$59.73
28.29% Upside

According to the 30 analysts' twelve-month price targets for Devon Energy, the average price target is $59.73. The highest price target for DVN is $68.00, while the lowest price target for DVN is $45.85. The average price target represents a forecasted upside of 28.29% from the current price of $46.55.

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

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DVN Analyst Ratings Over Time

Type	Current Forecast 9/29/25 to 9/29/26	1 Month Ago 8/30/25 to 8/30/26	3 Months Ago 7/1/25 to 7/1/26	1 Year Ago 9/29/24 to 9/29/25
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	2 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	23 Buy rating(s)	22 Buy rating(s)	24 Buy rating(s)	16 Buy rating(s)
Hold	5 Hold rating(s)	5 Hold rating(s)	5 Hold rating(s)	10 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$59.73	$59.15	$58.81	$43.96
Forecasted Upside	28.29% Upside	24.74% Upside	46.29% Upside	23.70% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

DVN Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

DVN Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Devon Energy Stock vs. The Competition

Type	Devon Energy	Energy Companies	Broader Market
Consensus Rating Score	2.90	2.45	2.53
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	28.29% Upside	45.17% Upside	20.12% Upside
News Sentiment Rating	Positive News See Recent DVN News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

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Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
9/28/2026	Wells Fargo & Company 3 of 5 stars	Sam Margolin Not Rated	Lower Target	Overweight	$65.00 ➝ $64.00	+35.88%
9/14/2026	Raymond James Financial 3 of 5 stars	John Freeman 4 of 5 stars	Boost Target	Strong-Buy	$64.00 ➝ $67.00	+31.10%
9/14/2026	UBS Group 4 of 5 stars	Josh Silverstein 4 of 5 stars	Boost Target	Buy	$55.00 ➝ $63.00	+25.52%
9/10/2026	Stifel Nicolaus Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	David Deckelbaum Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Initiated Coverage	Buy	$61.00	+24.45%
9/9/2026	Weiss Ratings Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Hold (C) ➝ Hold (C+)
8/31/2026	Citigroup Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Scott Gruber Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$65.00 ➝ $67.00	+41.29%
8/17/2026	Barclays Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Betty Jiang Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Overweight	$62.00 ➝ $58.00	+26.57%
8/17/2026	Argus Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Bill Selesky Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Buy	$45.85	-1.43%
8/6/2026	Truist Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Gabe Daoud Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$61.00 ➝ $65.00	+50.19%
7/21/2026	Susquehanna Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Biju Perincheril Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Positive	$57.00 ➝ $63.00	+43.83%
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7/8/2026	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Arun Jayaram Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Overweight	$62.00 ➝ $55.00	+27.15%
6/30/2026	The Goldman Sachs Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Neil Mehta Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Buy	$54.00 ➝ $53.00	+25.60%
6/26/2026	Morgan Stanley Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Devin McDermott Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Overweight	$66.00 ➝ $63.00	+49.36%
6/22/2026	Wolfe Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Doug Leggate Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Outperform	$67.00	+56.40%
6/10/2026	BMO Capital Markets Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Outperform
6/10/2026	Evercore Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	In-Line ➝ Outperform	$54.00	+22.73%
6/2/2026	Capital One Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Lower Target	Overweight	$63.00 ➝ $61.00	+32.09%
5/27/2026	Mizuho Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Nitin Kumar Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$62.00 ➝ $68.00	+50.41%
5/27/2026	Zacks Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Strong-Buy ➝ Hold
5/18/2026	Jefferies Financial Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Boost Target	Buy	$62.00 ➝ $63.00	+29.14%
4/28/2026	Roth Capital Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Buy	$57.00	+15.23%
4/22/2026	Scotiabank Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Betty Zhang Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Sector Perform	$41.00 ➝ $46.00	-1.21%
4/20/2026	Tudor Pickering Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Hold ➝ Strong-Buy
4/13/2026	Sanford C. Bernstein Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Boost Target	Outperform	$42.00 ➝ $59.00	+23.30%
4/8/2026	Royal Bank Of Canada Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Boost Target	Sector Perform	$46.00 ➝ $59.00	+18.22%
3/17/2026	TD Cowen Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Robert Hodges Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Hold	$46.00 ➝ $50.00	+6.37%
3/12/2026	Piper Sandler Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Mark Lear Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Overweight	$59.00 ➝ $67.00	+45.32%
1/26/2026	Siebert Williams Shank Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Boost Target	Buy	$46.00 ➝ $50.00	+28.58%
1/16/2026	Benchmark Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Buy
12/5/2025	Johnson Rice Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Lower Target	Buy	$70.00 ➝ $62.00	+63.53%
8/25/2025	William Blair Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Neal Dingmann Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Initiated Coverage	Outperform
7/7/2025	Bernstein Bank Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Lower Target	Outperform	$45.00 ➝ $43.00	+31.42%
4/29/2025	Bank of America Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Noah Hungness Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Buy	$52.00 ➝ $42.00	+34.29%
3/5/2025	Williams Trading Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Set Target		$50.00	+46.31%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 11:42 PM ET.

Should I Buy Devon Energy Stock? DVN Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Tuesday, September 29, 2026. Please send any questions or comments about these Devon Energy pros and cons to contact@marketbeat.com.

Devon Energy
Bull Case

Here are some ways that investors could benefit from investing in Devon Energy Co.:

Devon Energy Co. recently delivered a strong earnings report on August 4, 2026, where the company reported earnings per share of $1.57, significantly beating the analyst consensus estimate of $1.40 by $0.17, which demonstrates the company's ability to generate higher-than-expected profits for shareholders.
The company's revenue for the most recent quarter reached $7.42 billion, surpassing the analyst estimate of $6.01 billion and representing a 73.1% increase compared to the same quarter last year, indicating robust top-line growth and operational efficiency.
Wall Street analysts maintain a positive outlook on the stock, with a consensus rating of Moderate Buy and an average price target of $59.72, which suggests substantial upside potential from the current stock price of $46.55 as of September 29, 2026.
Devon Energy Co. offers a stable income stream for investors through its quarterly dividend of $0.32 per share, which translates to an annualized dividend yield of 2.72%, providing a reliable return on investment while the company maintains a manageable debt-to-equity ratio of 0.24.
The company's multi-basin footprint across regions such as the Eagle Ford and Delaware provides operational diversification, allowing Devon Energy Co. to optimize production and cash flow across multiple U.S. oil and gas regions, which helps mitigate risks associated with single-asset volatility.

Devon Energy
Bear Case

Investors should be bearish about investing in Devon Energy Co. for these reasons:

BP reportedly studied buying Devon Energy Co.'s Eagle Ford assets but ultimately walked away from the potential transaction, which removes a possible source of near-term asset-sale proceeds or takeover speculation that could have boosted the stock price.
Short interest in the stock has been increasing, with shares shorted rising to 31,640,100 as of the September 15, 2026 record date, representing a 15.14% month-to-month increase, which suggests that a growing number of traders are betting against the stock's future performance.
Recent insider activity shows mixed signals, with EVP Robert Ferrall Lowe III selling 6,756 shares on September 14, 2026, and Representative Kevin Hern disclosing multiple sales of Devon Energy Co. stock in late August and early September 2026, which may indicate a lack of confidence from key stakeholders.
Wells Fargo & Company recently lowered its price target on Devon Energy Co. from $65.00 to $64.00, a modest negative signal that suggests slightly less upside in its updated assumptions, although the bank maintains an overweight rating.
The company's current ratio of 0.72 and quick ratio of 0.67 indicate that Devon Energy Co. has less current assets than current liabilities, which could pose liquidity challenges if the company faces unexpected expenses or needs to meet short-term obligations.

DVN Forecast - Frequently Asked Questions

According to the research reports of 30 Wall Street equities research analysts, the average twelve-month stock price forecast for Devon Energy is $59.73, with a high forecast of $68.00 and a low forecast of $45.85.

30 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last year. There are currently 5 hold ratings, 23 buy ratings and 2 strong buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" DVN shares.

According to analysts, Devon Energy's stock has a predicted upside of 28.29% based on their 12-month stock forecasts.

Over the previous 90 days, Devon Energy's stock had 2 upgrades and 1 downgrade by analysts.

Devon Energy has been rated by research analysts at Argus, Barclays, Citigroup, JPMorgan Chase & Co., Raymond James Financial, Stifel Nicolaus, Susquehanna, Truist Financial, UBS Group, Weiss Ratings, and Wells Fargo & Company in the past 90 days.

Analysts like Devon Energy more than other "energy" companies. The consensus rating for Devon Energy is Moderate Buy while the average consensus rating for "energy" companies is Hold. Learn more on how DVN compares to other companies.

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Brokerages With Devon Energy Recommendations

MarketBeat monitors more than a dozen sources for Devon Energy analyst ratings, with the most recent rating issued on 9/28/2026.

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Devon Energy (DVN) Stock Forecast & Price Target