Devon Energy (DVN) Stock Forecast & Price Target

Q: What analysts cover Devon Energy?

Devon Energy has been rated by research analysts at Argus , Barclays , BMO Capital Markets , Citigroup , Evercore , JPMorgan Chase & Co. , Morgan Stanley , Raymond James Financial , Susquehanna , The Goldman Sachs Group , Truist Financial , UBS Group , Weiss Ratings , Wells Fargo & Company , and Wolfe Research in the past 90 days.

$48.08 +0.02 (+0.04%)

Closing price 09/4/2026 03:58 PM Eastern

Extended Trading

$48.68 +0.60 (+1.25%)

As of 08:59 AM Eastern

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

Consensus Rating

Moderate Buy

Based on 29 Analyst Ratings

Sell
0

Hold
5

Buy
24

Based on 29 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 29 analysts, 5 have given a hold rating, 22 have given a buy rating, and 2 have given a strong buy rating for DVN.

Consensus Price Target

$59.23
23.20% Upside

According to the 29 analysts' twelve-month price targets for Devon Energy, the average price target is $59.23. 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 23.20% from the current price of $48.08.

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 9/8/25 to 9/8/26	1 Month Ago 8/9/25 to 8/9/26	3 Months Ago 6/10/25 to 6/10/26	1 Year Ago 9/8/24 to 9/8/25
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	2 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	22 Buy rating(s)	23 Buy rating(s)	23 Buy rating(s)	16 Buy rating(s)
Hold	5 Hold rating(s)	5 Hold rating(s)	6 Hold rating(s)	9 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$59.23	$59.72	$58.74	$44.08
Forecasted Upside	23.20% Upside	39.08% Upside	26.10% Upside	27.70% 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	2.43	2.53
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	23.20% Upside	32.23% Upside	14.04% 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

Export

Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
8/31/2026	Citigroup 4 of 5 stars	Scott Gruber 5 of 5 stars	Boost Target	Buy	$65.00 ➝ $67.00	+41.29%
8/25/2026	Weiss Ratings 5 of 5 stars		Downgrade	Hold (C+) ➝ Hold (C)
8/17/2026	Barclays 3 of 5 stars	Betty Jiang 4 of 5 stars	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%
8/13/2026	Wells Fargo & Company Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Hanwen Chang Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Overweight	$68.00 ➝ $65.00	+44.86%
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%
7/16/2026	Raymond James Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	John Freeman Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Strong-Buy	$66.00 ➝ $64.00	+49.09%
7/15/2026	UBS Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Josh Silverstein Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Buy	$58.00 ➝ $54.00	+26.54%
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%
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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 08:59 AM 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 Monday, September 7, 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 reported second-quarter 2026 results that significantly exceeded market expectations, with adjusted earnings per share of $1.57 beating the consensus estimate of $1.40 and revenue of $7.42 billion rising 73.1% year over year, demonstrating strong operational performance and cash flow generation that supports the investment thesis.
The stock currently trades at $48.08, which is well below the average analyst price target of $59.23, suggesting substantial upside potential as the consensus rating remains a Moderate Buy from twenty-nine research firms, indicating that the current valuation may not fully reflect the company's recent earnings strength and growth trajectory.
Devon Energy Co. offers a compelling dividend yield of 2.66% with a sustainable payout ratio of 30.40%, providing investors with a reliable income stream that is well-covered by the company's earnings, a feature highlighted by Goldman Sachs as an attractive opportunity in the energy sector despite recent market rallies.
Institutional investor confidence is rising, with major funds such as Readystate Asset Management LP increasing their holdings by 263.0% and Wellington Management Group LLP raising their positions by 418.3% in the second quarter, signaling that sophisticated market participants are positioning for further gains based on the company's fundamental improvements.
The company exhibits low volatility with a beta of 0.37, meaning its stock price tends to move less than the overall market, which can provide a defensive characteristic for portfolios while still offering exposure to the energy sector's performance and the company's strong balance sheet with a debt-to-equity ratio of 0.24.

Devon Energy
Bear Case

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

Recent insider activity shows a trend of selling, with Senior Vice President Andrea Alexander selling 18,000 shares and other executives like Adam M Vela and Jeffrey L Ritenour also reducing their holdings in May and June 2026, which may signal that company insiders are taking advantage of the recent stock price appreciation to lock in gains.
Short interest in Devon Energy Co. has increased significantly, with shares shorted rising to 24.4 million as of August 2026, representing a short percentage of float that has fluctuated and recently shown an increase from previous months, indicating that a portion of the market is betting against the stock's future performance.
The stock is trading near its 52-week high of $52.71, having risen 16.5% since the last earnings report, which may limit immediate upside potential and increase the risk of a pullback as the stock approaches resistance levels, a concern noted by analysts who question whether current estimates can support further gains.
Some analysts have recently downgraded their outlook, with Wall Street Zen downgrading Devon Energy Co. to a Hold rating in September 2026 and Morgan Stanley cutting its price objective from $66.00 to $63.00 in June, reflecting a more cautious view on the stock's valuation and future growth prospects compared to earlier in the year.
The company's current ratio of 0.72 and quick ratio of 0.67 indicate that its current liabilities exceed its current assets, which could pose liquidity challenges in a volatile market environment, although this is partially offset by the company's strong cash flow generation and low debt levels.

DVN Forecast - Frequently Asked Questions

According to the research reports of 29 Wall Street equities research analysts, the average twelve-month stock price forecast for Devon Energy is $59.23, with a high forecast of $68.00 and a low forecast of $45.85.

29 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last twelve months. There are currently 5 hold ratings, 22 buy ratings and 2 strong buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" DVN shares.

According to analysts, Devon Energy's stock has a predicted upside of 23.20% based on their 12-month stock forecasts.

Over the previous 90 days, Devon Energy's stock had 3 upgrades and 1 downgrade by analysts.

Devon Energy has been rated by research analysts at Argus, Barclays, BMO Capital Markets, Citigroup, Evercore, JPMorgan Chase & Co., Morgan Stanley, Raymond James Financial, Susquehanna, The Goldman Sachs Group, Truist Financial, UBS Group, Weiss Ratings, Wells Fargo & Company, and Wolfe Research 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 8/31/2026.

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Devon Energy (DVN) Stock Forecast & Price Target