Devon Energy (NYSE:DVN) Stock Price Expected to Rise, Truist Financial Analyst Says

Devon Energy (NYSE:DVN) had its target price lifted by equities researchers at Truist Financial from $61.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Truist Financial’s target price indicates a potential upside of 51.37% from the company’s current price.

DVN has been the subject of several other research reports. Citigroup raised their target price on Devon Energy from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Scotiabank increased their price target on Devon Energy from $41.00 to $46.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Wall Street Zen downgraded Devon Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Susquehanna boosted their price objective on shares of Devon Energy from $57.00 to $63.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Finally, Roth Capital reaffirmed a “buy” rating and issued a $57.00 target price on shares of Devon Energy in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $59.72.

Devon Energy Price Performance

Shares of DVN stock opened at $42.94 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.94. The company has a market capitalization of $26.68 billion, a PE ratio of 10.20 and a beta of 0.38. The firm’s 50-day moving average is $43.46 and its two-hundred day moving average is $44.87. Devon Energy has a 12 month low of $31.47 and a 12 month high of $52.71.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter last year, the firm earned $0.84 EPS. The business’s revenue was up 73.1% compared to the same quarter last year. Analysts predict that Devon Energy will post 4.72 earnings per share for the current year.

Insiders Place Their Bets

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the transaction, the senior vice president owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Adam M. Vela sold 24,342 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the transaction, the senior vice president owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 112,371 shares of company stock worth $5,258,059 in the last ninety days. 4.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Devon Energy

A number of hedge funds have recently bought and sold shares of DVN. LSV Asset Management raised its stake in shares of Devon Energy by 79.6% in the fourth quarter. LSV Asset Management now owns 799,587 shares of the energy company’s stock valued at $29,289,000 after acquiring an additional 354,500 shares during the last quarter. Morningstar Investment Management LLC bought a new position in shares of Devon Energy in the fourth quarter worth about $2,089,000. Kimmeridge Energy Management Company LLC increased its holdings in shares of Devon Energy by 56.5% in the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after purchasing an additional 3,195,862 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Devon Energy by 15.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock worth $9,801,000 after buying an additional 26,209 shares in the last quarter. Finally, NewEdge Wealth LLC increased its stake in shares of Devon Energy by 20.0% in the 1st quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock valued at $24,138,000 after buying an additional 80,000 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: Strong Q2 performance: Devon exceeded expectations for the quarter ended June 2026, reporting $1.57 in earnings per share versus the $1.40 consensus estimate and revenue of $7.42 billion versus $6.01 billion expected. Production and costs also outperformed guidance. Devon Energy Q2 2026 Earnings Call Highlights
• Positive Sentiment: Cash flow and synergies support shareholder returns: Analysts highlighted approximately $1.66 billion of adjusted free cash flow, progress toward more than $1 billion in merger synergies and a disciplined approach to capital allocation. The company is also reviewing assets that could potentially generate more than $12 billion for debt reduction, reinvestment or shareholder returns. DVN Q2 Earnings Call Takeaways
• Positive Sentiment: Analyst support strengthened: Truist raised its price target from $61 to $65 and maintained a Buy rating. Evercore ISI and Siebert Williams Shank also reaffirmed Buy ratings, signaling continued confidence in Devon’s post-merger outlook. Truist price target update
• Positive Sentiment: Commentary remains favorable on Devon’s expanded Permian acreage, potential asset-sale proceeds and the market’s possible underestimation of the combined company’s operating synergies. The Market Still Underestimates the New Devon
• Neutral Sentiment: Better-than-expected results from Occidental and Murphy Oil reinforce a supportive energy-sector backdrop, although their results do not directly change Devon’s fundamentals. Occidental Q2 Earnings
• Negative Sentiment: The bullish thesis depends on successfully integrating Coterra, capturing planned synergies and completing asset sales at attractive prices. Any delays, weaker oil and gas prices or disappointing proceeds could limit the expected upside and help explain why the stock has decreased despite favorable coverage.

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.