Devon Energy (NYSE:DVN) Raised to Strong-Buy at Truist Financial

Devon Energy (NYSE:DVN) was upgraded by equities research analysts at Truist Financial to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities analysts also recently issued reports on DVN. BMO Capital Markets raised their price target on shares of Devon Energy from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Sanford C. Bernstein reduced their price objective on shares of Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Raymond James Financial increased their price objective on Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. TD Cowen raised their target price on Devon Energy from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Finally, Wells Fargo & Company lifted their target price on Devon Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.86.

Devon Energy Stock Performance

Devon Energy stock opened at $50.32 on Monday. The business has a 50 day moving average of $43.03 and a 200-day moving average of $37.88. The company has a market capitalization of $31.20 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.28 and a beta of 0.56. Devon Energy has a 1 year low of $25.89 and a 1 year high of $50.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the company earned $1.10 EPS. The firm’s revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy will post 4.85 earnings per share for the current year.

Hedge Funds Weigh In On Devon Energy

A number of hedge funds have recently bought and sold shares of DVN. Caldwell Trust Co acquired a new position in shares of Devon Energy during the second quarter valued at about $25,000. PFS Partners LLC acquired a new stake in shares of Devon Energy in the 3rd quarter valued at about $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Devon Energy in the 4th quarter valued at about $25,000. First Horizon Corp bought a new stake in Devon Energy in the 3rd quarter valued at about $26,000. Finally, Accredited Wealth Management LLC raised its stake in Devon Energy by 61.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after buying an additional 308 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy News Roundup

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

• Positive Sentiment: Truist initiated coverage/raised its stance on DVN, assigning a buy/strong‑buy view and a $63 price target (roughly 25% upside from current levels) — a clear catalyst for investor interest and higher relative upside expectations. Benzinga MSN Zacks
• Positive Sentiment: Crude oil prices rebounded today, lifting U.S. exploration & production stocks including DVN — higher realized pricing improves near‑term cash flow and makes Devon’s dividend/shareholder return story more attractive to buyers. QuiverQuant
• Neutral Sentiment: Wall Street coverage is largely constructive (multiple recent buy/overweight ratings); analysts’ price targets vary widely (median ≈ $48, several targets above $55 and some below), so expectations are mixed and volatility in targets could amplify moves. QuiverQuant (analyst summary)
• Neutral Sentiment: Commentary around the pending Coterra merger (and related media mentions) keeps strategic/merger outcomes in focus; this can boost sensitivity to news but is not an immediate transactional update. Yahoo/Market
• Negative Sentiment: Short interest jumped sharply in March (≈24.4M shares, +58% vs. late‑Feb), representing ~4% of shares — a rise in short positions can pressure shares if negative news or profit‑taking surfaces, though current days‑to‑cover remains low (~1.5 days).
• Negative Sentiment: A comparative analyst piece flags Occidental (OXY) as better positioned to benefit from oil spikes (less hedging, stronger near‑term cash flow), which could cause relative underperformance vs. peers if oil volatility persists. Zacks

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.