Devon Energy (NYSE:DVN) Given New $55.00 Price Target at UBS Group

Devon Energy (NYSE:DVN) had its price target hoisted by equities researchers at UBS Group from $50.00 to $55.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. UBS Group’s price target points to a potential upside of 24.07% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Devon Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Raymond James Financial upped their target price on Devon Energy from $44.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, February 11th. BMO Capital Markets increased their target price on Devon Energy from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday. Scotiabank cut their price target on Devon Energy from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Monday, February 23rd. Finally, TD Cowen upgraded shares of Devon Energy to a “hold” rating in a report on Monday, February 9th. Twenty-three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $47.85.

Devon Energy Price Performance

Shares of DVN stock traded up $0.84 on Thursday, reaching $44.33. The company had a trading volume of 1,126,130 shares, compared to its average volume of 11,079,500. The business’s 50-day moving average is $40.10 and its 200 day moving average is $36.72. Devon Energy has a one year low of $25.89 and a one year high of $46.15. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $27.48 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 4.38 and a beta of 0.56.

Devon Energy (NYSE:DVN) last announced 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 company had revenue of $17.19 billion for the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 EPS. Equities research analysts forecast that Devon Energy will post 4.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Caldwell Trust Co bought a new stake in Devon Energy in the second quarter valued at $25,000. PFS Partners LLC acquired a new stake in shares of Devon Energy in the 3rd quarter valued at about $25,000. First Horizon Corp acquired a new stake in shares of Devon Energy in the 3rd quarter valued at about $26,000. Accredited Wealth Management LLC increased its position in Devon Energy by 61.6% in 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 in the last quarter. Finally, Ameriflex Group Inc. raised its stake in Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after buying an additional 702 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy News Summary

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

• Positive Sentiment: Devon agreed to a ~US$58 billion all‑stock merger with Coterra, combining large positions across U.S. shale basins. The deal is presented as a scale play that should produce operating and cost synergies and reposition the combined company as a top U.S. producer — a material strategic positive for long‑term cash flow potential. Devon And Coterra Merger Reshapes Shale Outlook As Oil Prices Shift
• Positive Sentiment: BMO Capital Markets raised its price target on Devon to $55 (from $45) and kept an “Outperform” rating — signaling that some sell‑side analysts see substantial upside (~26% from current levels) tied to the company’s scale, free cash flow potential and the merger rationale. BMO Capital Adjusts Price Target on Devon Energy to $55 From $45
• Neutral Sentiment: Geopolitical conflict in the Middle East has pushed oil prices higher, which could boost near‑term revenue and cash flow for a combined Devon/Coterra, but it also increases volatility and may alter the merged company’s capital allocation and hedge assumptions.
• Negative Sentiment: Zacks Research sharply cut multiple quarterly and full‑year EPS estimates for Devon across 2026–2027 and maintains a “Strong Sell” rating — trimming FY2026 and FY2027 forecasts materially. These cuts lower near‑term earnings expectations and could pressure the stock if other analysts follow suit or if operational synergies from the merger take longer than expected to materialize. Q2 EPS Estimates for Devon Energy Reduced by Zacks Research

About Devon Energy

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.