UBS Group Raises Devon Energy (NYSE:DVN) Price Target to $55.00

Devon Energy (NYSE:DVN) had its price objective boosted by research analysts at UBS Group from $50.00 to $55.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. UBS Group’s target price would indicate a potential upside of 24.07% from the company’s previous close.

Several other brokerages have also recently issued reports on DVN. JPMorgan Chase & Co. lowered their price target on Devon Energy from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. Capital One Financial dropped their price target on Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Benchmark reaffirmed a “buy” rating on shares of Devon Energy in a research report on Friday, January 16th. Susquehanna lifted their target price on shares of Devon Energy from $47.00 to $52.00 and gave the company a “positive” rating in a research note on Friday, February 20th. Finally, Wolfe Research boosted their target price on shares of Devon Energy from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Twenty-three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $47.85.

Devon Energy Stock Performance

Shares of NYSE:DVN traded up $0.84 on Thursday, hitting $44.33. The company’s stock had a trading volume of 1,126,130 shares, compared to its average volume of 11,079,500. The company has a market capitalization of $27.48 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 4.38 and a beta of 0.56. The stock’s 50-day moving average is $40.10 and its two-hundred day moving average is $36.72. Devon Energy has a 12 month low of $25.89 and a 12 month high of $46.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98.

Devon Energy (NYSE:DVN) last released its 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 for the quarter, compared to analysts’ expectations of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. Devon Energy’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. On average, equities research analysts forecast that Devon Energy will post 4.85 EPS for the current year.

Hedge Funds Weigh In On Devon Energy

Institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its stake in Devon Energy by 4.3% during the third quarter. Allianz Asset Management GmbH now owns 833,155 shares of the energy company’s stock worth $29,210,000 after buying an additional 33,974 shares in the last quarter. Greatmark Investment Partners Inc. boosted its position in shares of Devon Energy by 5.6% during the 3rd quarter. Greatmark Investment Partners Inc. now owns 571,925 shares of the energy company’s stock worth $20,052,000 after acquiring an additional 30,435 shares in the last quarter. Canada Post Corp Registered Pension Plan increased its stake in Devon Energy by 298.1% in the third quarter. Canada Post Corp Registered Pension Plan now owns 42,351 shares of the energy company’s stock valued at $1,585,000 after acquiring an additional 31,713 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Devon Energy by 4.2% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,451,792 shares of the energy company’s stock valued at $50,900,000 after purchasing an additional 57,947 shares in the last quarter. Finally, Natixis lifted its stake in Devon Energy by 101.4% during the second quarter. Natixis now owns 73,902 shares of the energy company’s stock worth $2,351,000 after purchasing an additional 37,211 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Key Headlines Impacting Devon Energy

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.