Devon Energy (NYSE:DVN) Price Target Raised to $59.00 at Royal Bank Of Canada

Devon Energy (NYSE:DVN) had its price objective increased by Royal Bank Of Canada from $46.00 to $59.00 in a report issued on Wednesday morning,MarketScreener reports. They currently have a sector perform rating on the energy company’s stock.

Several other equities research analysts have also recently weighed in on DVN. Argus upped their price target on shares of Devon Energy from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Wells Fargo & Company increased their target price on shares of Devon Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. Susquehanna raised their price target on shares of Devon Energy from $47.00 to $52.00 and gave the stock a “positive” rating in a report on Friday, February 20th. Finally, Zacks Research upgraded shares of Devon Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Devon Energy Stock Performance

Devon Energy stock opened at $47.90 on Wednesday. The company’s 50-day moving average price is $45.74 and its 200-day moving average price is $39.03. Devon Energy has a twelve month low of $25.89 and a twelve month high of $52.71. 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 company has a market cap of $29.77 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.97 and a beta of 0.47.

Devon Energy (NYSE:DVN) last issued its quarterly 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 company had revenue of $4.12 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. On average, equities research analysts forecast that Devon Energy will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, March 13th. Devon Energy’s dividend payout ratio (DPR) is presently 23.02%.

Institutional Investors Weigh In On Devon Energy

A number of institutional investors have recently made changes to their positions in the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Devon Energy in the fourth quarter valued at approximately $25,000. PFS Partners LLC purchased a new position in Devon Energy in the third quarter worth approximately $25,000. First Horizon Corp purchased a new stake in shares of Devon Energy during the 3rd quarter worth approximately $26,000. Caldwell Trust Co purchased a new stake in shares of Devon Energy during the 2nd quarter worth approximately $25,000. Finally, MV Capital Management Inc. purchased a new stake in shares of Devon Energy during the 4th quarter worth approximately $29,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: Analysts raised targets — BMO bumped its price target to $60 and kept an Outperform rating, implying meaningful upside versus current levels. BMO raises PT to $60
• Positive Sentiment: RBC raised its price target to $59 (sector perform), providing additional analyst support for the stock’s upside thesis. RBC raises PT to $59
• Positive Sentiment: Regulatory progress on the Coterra acquisition: the Hart‑Scott‑Rodino waiting period has expired, advancing the merger and the potential scale/production benefits if the deal closes. Merger clearance article
• Positive Sentiment: Commodity tailwind — oil has surged sharply amid Middle East tensions, supporting higher revenue potential for producers like Devon. Oil surge article
• Positive Sentiment: Technicals look constructive: DVN trading above its 50- and 200-day moving averages, which can attract momentum-oriented buying. Technical breakout article
• Neutral Sentiment: Scheduled catalyst — Devon will report Q1 2026 results on May 5 after the close; the release and conference call present a near-term event that could swing the stock. Earnings date article
• Negative Sentiment: Short-term selling pressure/sector rotation — commentators flagged that energy stocks are lagging on days when broader markets rally, which can pressure DVN despite company-specific positives. Sector weakness article
• Negative Sentiment: Shareholder scrutiny on the Coterra deal — a law firm is investigating whether Devon’s proposed exchange terms for the Coterra acquisition are fair, adding legal/transaction risk and potential distraction. Investor alert article
• Negative Sentiment: Immediate reaction: headlines noted DVN’s share price dipped amid a market uptick, reflecting profit-taking and sector rotation even as company fundamentals remain supported. Price action article

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.