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

Devon Energy (NYSE:DVN) had its target price upped by research analysts at Truist Financial from $61.00 to $65.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial’s target price indicates a potential upside of 50.49% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Susquehanna lifted their target price on shares of Devon Energy from $57.00 to $63.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Argus upped their target price on shares of Devon Energy from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. UBS Group decreased their price objective on Devon Energy from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. The Goldman Sachs Group decreased their price target on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Raymond James Financial reduced their target price on shares of Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.72.

Devon Energy Price Performance

Shares of DVN traded up $1.10 during mid-day trading on Thursday, reaching $43.19. 3,754,949 shares of the stock traded hands, compared to its average volume of 13,694,422. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. Devon Energy has a 1 year low of $31.47 and a 1 year high of $52.71. The company has a market cap of $26.84 billion, a price-to-earnings ratio of 10.26 and a beta of 0.38. The firm has a fifty day moving average price of $43.52 and a 200 day moving average price of $44.83.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a return on equity of 21.29% and a net margin of 16.67%.The business had revenue of $7.42 billion during the quarter, compared to analysts’ expectations of $6.01 billion. During the same period in the previous year, the business earned $0.84 earnings per share. The firm’s revenue was up 73.1% on a year-over-year basis. As a group, equities research analysts predict that Devon Energy will post 4.64 earnings per share for the current year.

Insider Transactions at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction 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 transaction, the senior vice president owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the sale, the executive vice president directly owned 428,452 shares of the company’s stock, valued at approximately $19,991,570.32. This trade represents a 14.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 112,371 shares of company stock valued at $5,258,059 over the last 90 days. Corporate insiders own 4.58% of the company’s stock.

Hedge Funds Weigh In On Devon Energy

A number of institutional investors and hedge funds have recently bought and sold shares of DVN. LSV Asset Management grew its holdings in Devon Energy by 79.6% during the 4th quarter. LSV Asset Management now owns 799,587 shares of the energy company’s stock valued at $29,289,000 after purchasing an additional 354,500 shares in the last quarter. Morningstar Investment Management LLC acquired a new stake in shares of Devon Energy during the fourth quarter valued at about $2,089,000. Kimmeridge Energy Management Company LLC grew its stake in shares of Devon Energy by 56.5% during 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 acquiring an additional 3,195,862 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Devon Energy by 15.5% during the first quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock worth $9,801,000 after acquiring an additional 26,209 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its stake in shares of Devon Energy by 20.0% in the first quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock worth $24,138,000 after acquiring an additional 80,000 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Key Headlines Impacting Devon Energy

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

• Positive Sentiment: Devon reported second-quarter adjusted earnings of $1.57 per share, ahead of the $1.40 consensus estimate, while revenue reached $7.42 billion. The results benefited from stronger oil prices, higher production and contributions from the Coterra merger. Devon Q2 Earnings Surpass Estimates on Strong Oil Output and Pricing
• Positive Sentiment: Operational performance was also favorable: oil production averaged 503,000 barrels per day, at the high end of guidance, while capital spending was below the guidance midpoint. Devon generated approximately $1.66 billion in adjusted free cash flow and returned more than $1 billion through dividends, buybacks and debt reduction. Devon Energy Q2 Earnings Call Highlights
• Positive Sentiment: Management sharpened its 2026 outlook, citing progress toward more than $1 billion in merger synergies, technology-driven productivity gains and a portfolio review. Potential sales of noncore Marcellus, Eagle Ford and Powder River assets could generate significant proceeds for debt reduction, reinvestment or shareholder distributions. DVN Q2 Earnings Call Puts Synergies and Portfolio Review in Focus
• Positive Sentiment: The board raised Devon’s fixed quarterly dividend by 33% to $0.32 per share, supporting the investment case with an annualized yield of approximately 3%. The company also repurchased shares during the quarter.
• Neutral Sentiment: Devon expects third-quarter production of roughly 1.66 million to 1.69 million barrels of oil equivalent per day. The outlook reinforces scale benefits from the merger, but future earnings remain sensitive to oil and natural-gas prices.
• Negative Sentiment: The bullish thesis depends on successfully capturing merger synergies and completing asset sales at attractive valuations. Reported insider activity has included recent sales, although these transactions do not necessarily indicate a change in management’s long-term outlook.

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.