Devon Energy (NYSE:DVN) Reaches New 12-Month High on Analyst Upgrade

Shares of Devon Energy Corporation (NYSE:DVN) hit a new 52-week high during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $51.00 to $62.00. Mizuho currently has an outperform rating on the stock. Devon Energy traded as high as $47.50 and last traded at $47.3810, with a volume of 18432694 shares trading hands. The stock had previously closed at $46.65.

Several other research analysts have also weighed in on the company. Johnson Rice reduced their target price on Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, December 5th. Barclays increased their price target on Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday. Siebert Williams Shank raised their price target on Devon Energy from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Sanford C. Bernstein cut their price objective on Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Finally, Raymond James Financial boosted their price objective on Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Twenty-three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average price target of $49.37.

Devon Energy News Summary

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

• Positive Sentiment: Multiple analyst upgrades and a fresh “buy” from Barclays lifted sentiment, helping push the stock to a new 52‑week high and fueling recent inflows. Read More.
• Positive Sentiment: Devon is on a multi‑session winning streak (now seven sessions), reflecting momentum trading and growing investor appetite for U.S. producers amid geopolitical oil tightness. This streak is cited across coverage and has materially increased market cap. Read More.
• Positive Sentiment: Macro/oil outlook pieces argue that sustained elevated crude prices would disproportionately boost free cash flow at well‑managed producers like Devon, supporting buybacks/dividends and valuation expansion. That bullish commodity narrative is underpinning recent upgrades. Read More.
• Neutral Sentiment: Coverage notes Devon has risen ~8.4% since the last earnings report and analysts are re‑checking estimates — this explains part of the run but flags that further gains will depend on sustainment of oil prices and execution. Read More.
• Neutral Sentiment: Some research houses (e.g., TD Cowen) are keeping non‑committal stances (hold), showing not all Street views are uniformly bullish; that leaves room for mixed trading on any oil price or operational surprise. Read More.
• Negative Sentiment: Coverage reminding investors that lower oil prices would reverse the rally — some pieces outline scenarios where falling crude would hurt producers’ leverage and cash flow, creating downside risk if the oil rally fades. Read More.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. World Investment Advisors increased its stake in Devon Energy by 54.3% in the 4th quarter. World Investment Advisors now owns 46,916 shares of the energy company’s stock valued at $1,719,000 after buying an additional 16,505 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Devon Energy by 12.7% during the 4th quarter. Corient Private Wealth LLC now owns 116,073 shares of the energy company’s stock worth $4,253,000 after buying an additional 13,124 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Devon Energy during the 4th quarter worth about $25,000. Tulsa Wealth Advisors INC bought a new position in shares of Devon Energy in the 4th quarter valued at about $343,000. Finally, Tobam grew its holdings in shares of Devon Energy by 16.4% in the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock valued at $60,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 1.3%

The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. The business has a 50-day moving average of $42.24 and a 200-day moving average of $37.56. The firm has a market cap of $30.26 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.27 and a beta of 0.56.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 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 analysts’ expectations of $3.67 billion. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 earnings per share. Research analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, March 13th. Devon Energy’s dividend payout ratio is presently 23.02%.

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.