Devon Energy (NYSE:DVN) Price Target Raised to $45.00

Devon Energy (NYSE:DVN) had its price target raised by research analysts at Scotiabank from $41.00 to $45.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the energy company’s stock. Scotiabank’s price target would indicate a potential upside of 12.34% from the company’s previous close.

A number of other equities analysts have also commented on DVN. Raymond James Financial lifted their price target on shares of Devon Energy from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Sanford C. Bernstein cut their target price on Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. UBS Group raised Devon Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $46.00 in a research note on Friday, December 12th. JPMorgan Chase & Co. lowered their price objective on Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Finally, Barclays upped their target price on Devon Energy from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $44.90.

Devon Energy Trading Down 0.4%

NYSE DVN opened at $40.06 on Tuesday. Devon Energy has a twelve month low of $25.89 and a twelve month high of $41.31. The business’s fifty day moving average is $37.07 and its 200 day moving average is $35.09. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The company has a market cap of $25.13 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 3.66 and a beta of 0.60.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same period last year, the firm posted $1.10 earnings per share. As a group, sell-side analysts expect that Devon Energy will post 4.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in Devon Energy by 78.7% during the second quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after buying an additional 2,802,137 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Devon Energy by 83.9% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock worth $145,311,000 after acquiring an additional 2,083,600 shares during the last quarter. Sourcerock Group LLC grew its stake in shares of Devon Energy by 2,132.3% in the 2nd quarter. Sourcerock Group LLC now owns 1,751,276 shares of the energy company’s stock worth $55,708,000 after acquiring an additional 1,672,824 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Devon Energy by 446.7% in the fourth quarter. SG Americas Securities LLC now owns 1,236,301 shares of the energy company’s stock valued at $45,286,000 after purchasing an additional 1,010,170 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Devon Energy by 704.3% during the third quarter. Wellington Management Group LLP now owns 975,114 shares of the energy company’s stock valued at $34,187,000 after purchasing an additional 853,875 shares in the last quarter. Institutional investors 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: Large strategic rationale — multiple outlets note the deal creates a premier shale operator with scale, cost-savings and a strong Delaware Basin position, which could boost long‑term cash flow and free‑cash‑flow per share. Devon Energy CEO: ‘Stars align’ to acquire Coterra
• Positive Sentiment: Major investor support — Kimmeridge, a significant holder in both companies, publicly backed the combination as value‑creating, which can reduce investor skepticism about the strategic merits of the deal. KIMMERIDGE COMMENTS ON PROPOSED MERGER
• Neutral Sentiment: Deal mechanics — the transaction is an all‑stock combination valuing the pro forma company at about $58B (including debt); Devon shareholders would own ~54% of the combined company and the new entity will be named Devon Energy. These terms reduce near‑term cash burden but introduce share count and integration considerations. Devon Energy and Coterra Energy to Combine
• Neutral Sentiment: Broad news coverage — major outlets (Reuters, WSJ, Forbes) are highlighting the scale and market implications of the tie-up; this increases visibility and analyst attention, which can amplify moves in either direction as more details and estimates emerge. US shale producers Devon and Coterra to merge
• Negative Sentiment: Initial market reaction — reports show DVN (and CTRA) shares slid on the announcement as investors reacted to deal uncertainty, potential dilution from an all‑stock swap and integration risk. That selling pressure explains the stock decline today. DVN, CTRA: Devon, Coterra Stocks Slide
• Negative Sentiment: Shareholder litigation risk — at least two law firms have announced investigations into whether the merger is fair to Devon shareholders; increased litigation/claims could add costs, distraction and execution risk. Shareholder Alert: Investigation of Devon Energy
• Negative Sentiment: Additional fairness probe — Halper Sadeh is also investigating the merger terms for Devon shareholders, increasing near‑term legal scrutiny and uncertainty around shareholder approval. DVN Stock Alert: Halper Sadeh LLC Investigation

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.